💳SmartLending

Interest-Free Loans Simplified with Frendzi Token

Through SmartLending, any Frendzi Token can serve as collateral for obtaining loans against its baseline value without necessitating the sale or burning of the Frendzi Token. Upon loan acquisition, the borrower instantly receives the baseline value corresponding to the collateralized Token. The borrower then has a 30-day window to repay the loan without incurring any interest.

If the loan repayment isn't completed within the stipulated time, the user can prolong the lending period by an additional 30 days by burning 0.1% of their collateral. It's crucial to extend the SmartLoan before the 30-day expiration, as failure to do so results in loan default and the burning (loss) of the collateral.

As the collateralized tokens are secured within the smart contract and are considered part of the circulating supply, they continue to accumulate asset-backing, rendering SmartLending interest-free.

What This Signifies

SmartLending empowers users to access their Frendzi Token's baseline value without resorting to selling, making it ideal for unforeseen life emergencies or seizing opportunities in new token launches without divesting assets.

This translates to freedom, allowing users to treat their baseline value as a banked asset.

Safety Measures

SmartLend eliminates the need for oracles, as the price is directly derived from the baseline value within the smart contract. Moreover, since SmartLend operates without third-party involvement, there's no room for external manipulation or code exploits, making it the most secure lending protocol ever created.

Visibility of Tokens

Tokens utilized as collateral in SmartLend are held within the Smart Contract during the lending period, with the loan being provided in the asset-backing token type at the baseline value of the Token. For instance, if the Token is asset-backed in wBNB, the loan is provided in wBNB.

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Repayment in Batches

Yes, users can repay their loan in batches. Once the user repays the loan in full, either in batches or as a whole, the Frendzi Tokens are returned to the user's wallet.