Create a loan
How to create NFT loans on Honey Finance
Step 1 - Connect
Step 2 - Market selection
Step 3 - Select NFT
Step 4 - Borrow
After depositing an NFT into a market, you can now borrow liquidity from lenders. The NFT you have deposited serves as collateral.
At the top left corner, you will find the estimated value of your collateral (NFT). This is value is read from Switchboard oracles, tracking the floor price of the collection.
Below you will see your risk level, as this goes up, your loan is more likely to get liquidated. Keep this low to not lose your collateral.
Your allowance is how much you can borrow from this NFT.
Use the slider to select an amount of SOL you would like to borrow. This will automatically tell you how much USD worth of SOL you will receive.
The values to the right of the borrow form will update after you have selected a value. This is a preview of your position after you click