Banx.gg is an NFT Lending platform on Solana. An NFT Lending is a kind of loan where a creditor lends money to a borrower under an agreement that the borrower locks his NFT in the protocol as the loan collateral. If the borrowers do not repay their loan, the locked NFT is forfeited in favor of the lender.
All loans on Banx.gg are non-terminated (Perpetual - with an open end) and P2P.
- The most important and unique feature among all competitors on Solana.
- Similar to Blend, a loan is terminated if either the creditor or the debtor decides to do so.
Why Banx.gg?
Borrowing
- You don't have to renew your loans every week, just have notifications set up.
- Linear interest accounting (pay as many days as you borrow)
Lending to others (creditor)
- You can loan immediately by financing another creditor's terminating loan
- Better capital efficiency - loaned money remains loaned for a longer period (continuously earning interest)
- End your loans whenever you need to
If the creditor wants to terminate the loan (terminate button), then
It can be terminated immediately (another creditor waiting in the order book takes over the loan)
A 72-hour termination period starts during which another creditor can take over the loan or the debtor can repay it (if time expires, the NFT will be forfeited to the creditor)
Reasonable (healthy) loans will likely be taken over by another creditor.
So what you are waiting for? Let’s go try it. Just try it.