xLend

xLend is a dapp for loans between two people on Wanchain. The contract holds the collateral until the loan is repaid or the lender claims it.

Open it at xlend.orbitwan.io

How a loan works

1. Post. The lender sets the loan, the collateral, the APR and the term, and deposits the loan.
2. Accept. A borrower deposits the collateral and receives the loan.
3. Repay. The borrower repays the loan, the interest and the service fee, and gets the collateral back.
4. Claim. If the loan is not repaid by the end of the grace period, the lender takes the collateral.

Key facts

Terms	30, 60, 90, 180 or 365 days
Interest	Set by the lender as an APR, fixed for the whole term
Grace period	3 days after the term ends, with late interest
Service fee	Paid by the borrower with the repayment, never above 5% of the loan
Prices	None are read. The collateral is the amount both sides agreed
Tokens	WAN, xWAN, BTC, ETH, USDT, USDC, ADA, VET and XRP. All but WAN and xWAN are tokens WanBridge brings to Wanchain

In this section

LendPost an offer and deposit the loan.

BorrowAccept an offer with collateral and receive the loan.

Repay, grace period and defaultWhen to repay, what late costs, and what happens if a loan is not repaid.

Fees and contractThe service fee, what the admin can and cannot do, and where to verify the contract.