Paying off a loan

Loans can be paid off at any time with no pre-payment fee. Currently only payment in full is supported, however, we are working on v2 features that will allow for periodic payments in the not so distant future.

  1. Navigate to your Loan details page from My Loans to find the loan you would like to pay off.




  1. Click on Payoff Loan which will prompt you with a modal showing you your available balance of the payoff token, which as of now must be equivalent to the funding token.




  1. Click Pay in Full to prompt for 2 MetaMask transactions that will complete the payoff action on-chain. One is an approval to spend your payoff token, the other is the on-chain payoff transaction with the Pawn protocol contracts.




  1. Once the transactions are mined, you should see your loan in My Loans with the status Loan Repaid. It is recommended that you monitor Etherscan to ensure your transactions are picked up and confirmed.




  1. Clicking into View Details will allow you to Unwrap assets, which withdraws collateral wrapped in the wNFT that was backing the loan.