❓ Frequently Asked Questions

We give NFTs a value based on their current floor price and distribution. We offer a percentage of that floor price whilst holding your NFT as collateral. You pay a set APR for up to 45 days, and we return the NFT back to you once the loan has been paid in full.

All liquidity is supplied by the Goanna DAO.

The interest goes exclusively to the Goanna DAO.

Follow the link to view Supported collections

Loans are for a set period of up to 45 days. You are able to repay loans at any time but will pay the interest calculated on the full loan term.

The APR is 60.83% with an effective interest rate of 5% for the 45 day period.

Yes, you can take loans against any supported collections you own.

After repaying a loan, the same NFT cannot be used to take another loan for 3 days. This is to allow everyone an equal chance to utilize the bank.

You have the option to pay for an overdue loan by repaying the initial total principal + interest.

For taking a loan and successfully repaying it, the user will receive a reward of $GOAN if they are opted in. Please opt in prior to repaying your loan (ASA: 1387238831).

You can claim the nft by paying the loan amount. If the collection is suppotred for rewards, you will receive the reward amount.

All transactions are secured by Algorand's blockchain. Smart contracts are audited and funds are held in escrow until loan completion.

Yes, you can repay loans early without penalties. Interest is calculated based on the actual loan duration.