Make an Extension Offer

A loan extension (or rollover) is an option for borrowers to extend the terms of their active loan on the Arcade.xyz platform.

All active loans on Vaults or Single NFTs are open to extension offers from lenders by default on the platform.

Loan extension offer terms (Principal, Repayment, Interest Rate, Duration) are flexible - any or all terms can match or differ from the active loan.

Lenders can navigate to the Loans page and select collateral in an active loan that they would like to make an offer on.
After selecting an active loan, a detail page will render where lenders can view details about the active loan, asset(s), and other information such as the valuations.
Lenders can then input terms input Principal, Duration, and Repayment Amount or APR.
After terms have been entered and loan terms have been confirmed, users should click Make An Offer. The lender will immediately be prompted for a signature from the connected wallet. A notification will appear in the app that on chain transaction is in progress.

📘
Protocol Function
Signature: Users must sign on their offer with their connected wallet with the Arcade Protocol's Origination Controller.

Upon submitting a signature, a notification will appear in the app that the offer has been successfully submitted. Users can then return to the asset and see that their offer is live. The offer will also be added to the users' My Offers page.

Users can also cancel the offer at any time by returning to asset's page, looking at the details of the offer, and selecting Cancel. A notification will appear in the app confirming the cancelation.

Screens coming soon!