faq.md

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⁉️ Frequently Asked Questions

How does WANDz determine the value of my NFT?

For the initial launch, WANDz doesn't rely on fixed valuations. Instead, it uses an orderbook system. Think of it like an auction house for loans. Lenders set their terms for offering liquidity to specific collections. This puts the power in your hands to compare offers and find the best loan deal for your needs.

What about the rarity of my NFT?

Currently, all NFTs within a collection are treated equally. However, future plans include offering multiple orderbooks per collection based on NFT traits. This means your especially rare NFT could potentially fetch a better loan rate!

What are the fees associated with WANDz?

WANDz will charge a small platform fee (14.2%) on both, loans originated, extended and repaid. A portion of this fee goes towards the WANDz Insurance Fund, providing an extra layer of security for users. While another 14.2% goes back to DWOOBz holders depending on their rarity.

On average, 0.01% goes straight to each and every DWOOBz owner. Simply put, whenever WANDz makes 1 million $ in revenue, owners make 1000$.

Is there a risk of losing my NFT?

There's always a risk of defaulting, on any loan. If this happens, the lender receives your NFT as collateral. However, WANDz is built with a focus on responsible lending. By choosing your loan terms carefully and only borrowing what you can afford to repay, you can minimize this risk.

How does WANDz compare to other NFT lending platforms?

There are two main types of NFT lending models: peer-to-peer and peer-to-pool. Peer-to-peer can be slow and require negotiation. Peer-to-pool is faster but relies on centralized valuations, which can be inaccurate. WANDz takes a unique approach with its orderbook system, offering the flexibility of peer-to-peer lending with the speed and efficiency of peer-to-pool.

What currencies does WANDz support?

Currently, WANDz supports loans in LYX, with Monad and USDC support to be added relatively soon, with plans to expand to other popular coins from the LUKSO and Monad ecosystems.

We are is actively building a future where anyone can unlock the value of their NFT collection without having to sell their precious digital assets. Stay tuned for exciting updates!