Lending

1.Why do I need to lend?

If you have any idle funds, you should lend other users to earn money with interest and others with Defi for You P2P Platform.

2. How do I lend with Defi For You?

With Defi for You, you are able to select either of following ways to start:

1. Personal Lender: you can simply register as a normal user and start lending by actively finding the collaterals and send them offers. Alternatively, you can create your Lending service advertisement in Lending Settings, then it will be promoted on Homepage in the search results for the borrowers if matching.

2. Pawnshop: If lending services are your business, Pawnshop registration is more proper. You register with the needed information, if you are verified with KYC process, you will get a bunch of benefits from the the system and of course the borrower will always prefer the verified Pawnshop. You can start lending by creating loan packages ( Read how to create Loan packages here) and wait for Borrowers to send you collaterals.

3. How much can I lend?

You can lend as much as the amount you deposited or the available amount you added for each loan package.

If you look for the borrowers, the lending amount must follow the desired LTV you set up (Read more in Liquidate)

4. How to lend others if I am a personal lender?

Step 1: In Lend tab, then enter some general information and click on [Search]

Step 2: Select a desired collateral and click [Send offer]

Step 3: Provide all required information in the offer form below. More information about Loan to value and Liquidation threshold can be found in LTV & LTV liquidation threshold

Step 4: After completing the form and confirming on wallet extension or D-app successfully, your offer is created and sent to the borrower successfully. Your offered amount is not locked for further processing.

Borrower will see the received offered under [Borrower profile] - [Collateral detail] like below: