💸Information on Lending

Become a Lender, All you need to know

-Becoming a Lender

Hashroom rolled out in different phases. In our first phase (MVP), we allowed founders of collections & our partners at Shroomies to lend liquidity to projects accepted into Hashroom. This gave us data that helps improve the platform and ensure everything ran accordingly.

Lenders can log in using their Hedera Wallet. Once verified, you can select “Lend” on any collection accepted into Hashroom and place the amount you’d like to lend on it. You will see the APY and Loan duration when choosing the amount you lend. Loan duration will be 7-day contracts at the start. (A 14-day Loan option will be added shortly.)

You can also select a recently added feature called "Multi-Lend." This allows you to add multiple loans all at once to a collection! You can see the; Floor Price, Duration, Interest, Best Offer, and Offer Queue to see the other offers.

If the borrower defaults on the loan, the lender will become the new owner of the collateralized NFT. You can decide to sell it at the floor price for a potential profit or keep your newly bought NFT. You can review the amount of HBAR

All Loans for the MVP will bring 4% for a 7-day loan, which equals a 208% APY. Lenders will take a minimum of 2% out of the 4% with ways to increase it to 4%. The remaining will go to Hashroom. (Example below)

-Examples of ways to increase APY through our partners

1 Shroomie: Ability to become a Lender with the initial 2% return on 7-day loans. (104% APY)

2 Shroomies: Increase 0.2% to 2.2% return on 7-day loans. (115% APY)

3 Shroomies: Increase 0.3% to 2.3% return on 7-day loans. (120% APY)

4 Shroomies: Increase 0.4% to 2.4% return on 7-day loans. (125% APY)

5 Shroomies: Increase 0.5% to 2.5% return on 7-day loans. (130% APY)

10 Shroomies: Increase 1% to 3% return on 7-day loans. (156% APY)

15 Shroomies: Increase 1.5% to 3.5% return on 7-day loans. (183%% APY)

20 Shroomies: Increase 2% to 4% return on 7-day loans. (208% APY)

-Steps to Create an Offer & Review Offers

Step 1: Select Collection you'd like to submit an offer for. Select "Lend/Borrow".

Step 2A: Submit amount of Offer. Select "Fund"

Step 2B: If you select the "Multi-Lend" feature, You can add multiple Offers per collection! Select "Fund" once you are ready.

Step 3: Approve Transaction on Hashpack. (This is to create offer & add Liquidity)

Step 4: Offer is created, the offer is now being funded! DO NOT REFRESH PAGE.

Step 5: Offer is now funded! Now just wait for it to be picked up.

Step 6: Under the "Loans/Offers" Section, you can review your Confirmed/Active/Completed offers! You can Rescind the Offer by clicking the button as long as it's in the "Confirmed" Tab. Confirmed: Your Offer is waiting to be picked up by a Borrower Active: Your Offer was picked up, You can view time left for Borrower to pay you, You can view the NFT you'd get if Defaulted. Completed: All of your previews Completed Offers.

Tips:

• Choose a collection where you wouldn’t mind if they defaulted on your loan

• Compare your offer against the offers of others. (The highest offer will be accepted first.)

• Plan what collections have more volume and what is around the corner in their roadmap.

• We recommend keeping offers below 60% of the floor price. (Don't overleverage)

*APY is subject to change at any given time based on market conditions*

*Future Partners will be subject to be vetted by the Hashroom Team*