How to Borrow Against Your NFT: A Step-by-Step Guide
A Bored Ape holder recently secured a 16,225 USDC loan without selling their NFT. Here's the simple process:
- List NFT in Borrow tab and set loan terms (principal, duration, APR)
- Wait for lender offers and review them
- Accept preferred offer to activate loan
- Option to refinance for better terms
- Repay through dashboard before maturity
The platform offers flexibility to refinance or extend loans as needed. Previous successful case: MAYC holder borrowed 2,647 USDC at 29.6% APR for 30 days.