Lend

To lend, you post an offer and deposit the loan in the same step. The offer stays open until a borrower accepts it or you cancel it.

Post an offer

1. Open xLend and connect your wallet on Wanchain.
2. Under You lend, enter the amount and pick the token.
3. Under Collateral, enter the amount the borrower must deposit and pick its token. It must differ from the loan token.
4. Enter the APR, the yearly interest rate.
5. Pick the Term: 30, 60, 90, 180 or 365 days.
6. Check the summary below the form: Collateral, APR, Interest, Service fee and Grace.
7. Press Post offer. Unless the loan is in WAN, approve it first: the button reads Approve BTC (1 of 2) for a BTC loan, then Post offer (2 of 2).

An offer never changes

Once posted, the amounts, the APR, the term and the service fee are fixed. To change anything, cancel the offer and post a new one. Offers do not expire.

Cancel an offer

Until a borrower accepts it, cancel the offer under Your loans with Cancel offer. The loan comes back to your wallet.

After a borrower accepts

The borrower receives your loan and the contract holds the collateral. When the borrower repays, you receive the loan, the interest and any late interest at once. Your loans shows it as You get back.

If the loan is not repaid by the end of the grace period, take the collateral with Claim collateral. See Repay, grace period and default.

Choosing the collateral

xLend reads no prices. The collateral stays the amount you set, whatever prices do during the term. If the borrower does not repay, you receive that amount, which may then be worth more or less than the loan. Collateral worth more than the loan leaves room for prices to move.