On Arcade.xyz, users can make collection offers on many of the popular collections in the space.
Collection offers can be instantly accepted by borrowers with assets in a Vault. Once the offer is filled and a loan is started by a borrower, lenders looking to lend on additional assets must make another collection offer in order to lend against another asset in the collection.
In order to make a collection offer, lenders should follow the below steps:
- After connecting a wallet, lenders should navigate to the Arcade Verified Collections page to view the supported collections for collection offers.
- To make an offer, lenders should select Make a Collection Offer on the collection card.
- After selecting a collection, lenders should input terms into the Make Offer modal including Principal Amount, Repayment Amount and Duration. The interest will populate as well.
- Once terms have been entered and loan terms have been confirmed, users should click 'Sign Terms'. The lender will be prompted for a signature from their wallet. This signature reflects the terms of the offer.
Signature: Users must sign on their offer with their connected wallet
- After submitting a signature, there will be a notification in the app that the offer has been successfully made. 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.
Updated about 2 months ago