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  • ABOUT THE JPEG'd PROTOCOL
    • 🚬Introduction to JPEG'd
    • ⚙️Lending Mechanics
      • Borrow Interest Rates, Fees and Vault Tiers
      • Loan-to-Value Ratios and Liquidation Thresholds
      • NFT Pricing
      • Liquidations
      • Borrow with JPGD
    • 🌟Supported Collections
    • ☂️Liquidation Insurance
    • ⚡JPEG'd Boosts
      • LTV Boost
      • Traits Boost
        • Traits Boost Multipliers
      • Cigarette Boost
    • 🔨Auctions
    • 🤖Notification Bot
    • 🪂Airdrop
    • 🪙Tokens
      • $JPGD
      • $pETH
      • $PUSd
      • JPEG Cards
  • CDP LENDING GUIDES
    • 💵Borrowing
      • Open a Position
      • Manage an Existing Position
      • Create an LTV Boost
      • Close a Position and Withdraw Collateral
    • 💰Get Yield on JPEG'd
      • 🚜Farming with $pETH
      • Farm with $PUSd
      • 🙊$APECoin Staking on JPEG'd
        • Solo $APE Staking
        • P2P $APE Staking
        • $APE Staking FAQs
    • 📺JPEG'd Videos
    • 🛫Migrate JPEG to JPGD
    • 💎Airdrop Claiming
  • Peer 2 Peer Lending
    • 🤝Peer 2 Peer Lending
    • How it works
    • For Borrowers
      • How to List an NFT
      • Accepting a Collection Offer
      • Closing a Loan
      • How Does Refinancing Work
      • How Does Default Happen
    • For Lenders
      • Single NFT Lending Offers
      • Collection Offers
      • Refinancing an Existing Loan
      • Liquidation
    • Add a collection
  • TOKENOMICS
    • 📊Supply Graph
  • Contracts
    • 🪙Tokens
    • 👾Treasury
    • 🥐CDP Lending
    • 🍒Peer 2 Peer Lending
  • Security & Governance
    • 🗳️Quorum & Requirements
      • Governance Links
    • 🔐Audits
    • 👾DAO Treasury
  • Links
    • Website
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    • Snapshot
    • Treasury
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  1. Peer 2 Peer Lending
  2. For Borrowers

How Does Default Happen

If a loan is not repaid by the expiration date, it goes into default. In this case, ownership of the NFT is transferred to the lender, who can withdraw the NFT at any time.

When creating a loan, make sure to note the expiration date.

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Last updated 9 months ago