Fees

Protocol fees

There are no fees for borrowers on NFTfi. The NFTfi service fee for Lenders is 5% of the interest earned by Lenders on successful loans. In the case of a loan default, there is no service fee.

Gas fees for borrowers

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 here.

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

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)