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P2P NFT Lending

Prerequisites

The rest of the tutorial assumes that you have the basic understanding with ERC20 and Web3. If you are totally green hand to web3, it might not be the best idea to jump into a P2P as your first step - grasping the basic information at first is highly recommended.

How to use P2P NFT Lending(Testnet) ?

Step1 Enter the P2P Market

The first thing you need to do is enter the P2P Market portal. This can be done by going to P2P website where you will be greeted some NFTs that listed in the market like below.
P2P market
Please make sure that you only follow the official links in this article.

Step2 Connect your wallet

The next step is to connect your wallet. Simply click the Launch App button in the top right hand corner.
Launch App
Once click the button, you will see the screen in the image below pop up. Here, you can choose from a number of options: MetaMask or other web3 wallets through WalletConnect.
Select wallet

Step3 As the lender: Deposit your NFT to borrow money

Click Account tab, select My NFT sub-tab and you will see all of your NFTs.
My NFT
Choose the NFT you want to deposit.
Select NFT to deposit
Once you enter the deposit page, click the Edit button.
Deposit page
Edit in terms that you want to customize.
Save deposit information
Then you could deposit the NFT via click Deposit button, and you will see a confirmation popup from the wallet.
Deposit confirm
After 2 transactions (Approve and Deposit) are confirmed, you successfully list your NFTs.

Step4 As the NFT borrower: choose the NFT you are interested in and lend money

Click Open in the status of the Market page. You can find some of NFTs are listed to get the lending. If you are interest in one specific NFT. Then you could click it and go to the detailed page.
If you want to make offer negotiation with lend terms. Just chick Make Offer button.
Make offer for NFT
Fill in the terms you want to customize.
Click Confirm to submit your offer.
Confirm offer
If the lender accepts your offer, the agreement will be achieved.
You can also click Lend Now button and just lend the money to the NFT depositor.
Lend now action

Step5 As the NFT lender: Pay back the money and get your NFT back

Go to Account page and select Borrow sub-tab. Choose the NFT that you want to repay.
select repay NFT
Click the NFT and you will enter the detail page. Click Repay button and confirm the repay transaction.
repay
When repay process is done, the page will display the ClaimCollateral button as following.
claim collateral
Click the button and confirm the transaction, then the contract will directly send your deposited NFT back to you when the transaction process is done.

Step6 As the NFT borrower: Collect your funds and interest

Go to Account, select Supply sub-tab. Choose the NFT.
select NFT
Click the NFT, you will enter the detail page, then click the ClaimERC20 button.
Claim ERC20 token
And there will be a confirmation popup of the wallet.
Confirm transaction
Click Confirm button, after the transaction process, you will successfully get your money back with interest.

Something Missing?

If something is missing in the documentation or if you find some parts are confused, you could ask in Kyoko communities, or email us with improvement [email protected], or tweet at the @Kyoko account. We would love to hear from you!