After creation, all Vaults are open to loan offers by default on the platform.
Vault owners can set loan terms on Vaults in a connected wallet to facilitate loan matching with Lenders.
To assign loan terms to a Vault, Vault owners should proceed through the steps below.
- After connecting a wallet associated with a Vault, users should navigate to the Borrow page. The Vault owner should then select the Vault to assign loan terms.
- After a Vault is selected, a detail modal will pop up displaying the information about the collateral. To set terms, Vault owners must enter the Principal, Repayment Amount, and Duration.
- Once the terms are entered, the owner should hit the
Sign Termsbutton in the app.
- A wallet prompt will appear to submit a signature for the loan terms. Owners should then select
Signon the wallet modal.
Signature Request: this signature will enable the protocol to set loan terms on the subject Arcade Vault.
- After signing, another wallet notification will appear to approve the gas spend from the connected wallet (Function: Approve). Owners must Confirm the wallet transaction to set terms.
Approve: enables the protocol to spend gas to commit the loan terms to the Vault.
- Once confirmed, a notification will appear in the app that the on chain transaction is pending.
- Once the transaction is complete, there will be another notification in the app to confirm that the transaction is successful and the terms have been set on the Vault.
- The terms have been set on the Vault! Vault owners should check the Lend section and select the Vault.
The terms should appear on the Vault and Lenders will be able to match and initiate a loan or make an offer on the asset(s).
Updated about 2 months ago