🕑Paying back you loan
Repay your loans partially or fully.
The following tutorials are from our current WIP prototype, which is currently under testing in Goerli Network. The final MVP version to be launched may have some changes. At the moment, these illustrations shown are just for informative purpose for you to understand the product and its features.
Steps to repay back your loan and close your Nest.
Step 1 : Navigate to your respective Nest and click the Pay button.
Step 2 : Select either pay term amount or full loan amount and click Confirm.
Borrowers have two options. 1. Repay only payment term amount can continue the loan duration ends.
You can pay full loan amount and close the Nest and get back your collateral.
Keep an eye on your repayment schedule. Once your repayment is due, your Nest is susceptible to liquidation by participants in the protocol aka 'Liquidators'. You will risk loosing part of your collateral.
To learn more about Liquidation, read here
Step 3 : Click Pay to confirm.
Step 4 : Confirm the signature request prompted by your Metamask wallet.
Step 5 : Confirm the transaction in your Metamask wallet to initiate repayment.
Step 6 : Once transaction goes through, your nest will be updated accordingly.
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