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Fees

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Protocol fees

There are no fees for borrowers on NFTfi, and lenders are not charged any service fees.

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Gas fees for borrowers

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A gas fee refers to the fee required to conduct transactions or execute contracts on the Ethereum network. Gas fees are out of our control, and you can monitor them herearrow-up-right.

Borrowers will pay gas fees for the operations listed below:

  • Approving NFTfi to interact with your NFT (once per NFT collection, except for CryptoKitties (CK), where it must be done for each individual cat as CK isn’t fully ERC-721 compliant).

  • Approving the NFTfi smart contract to spend (repay) wETH, USDC or DAI for the first time (this is a one-time transaction)

  • Starting a loan

  • Repaying a loan

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Gas fees for lenders

Lenders pay gas fees for the operations listed below:

  • Approving the NFTfi smart contract to spend wETH, USDC or DAI for the first time (this is a one-time transaction)

  • Foreclose an NFT in case of a borrower default

  • Canceling an offer on-chain (due to security reasons)

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