> For the complete documentation index, see [llms.txt](https://docs.jpegd.io/jpegd-dao/llms.txt). Markdown versions of documentation pages are available by appending `.md` to page URLs; this page is available as [Markdown](https://docs.jpegd.io/jpegd-dao/peer-2-peer-lending/how-it-works.md). # How it works ## Navigating the Application JPEG'd P2P is organized around 4 sections: * **My NFTs:** Displays all your NFTs, both in wallet, listed or in loans * **My Loans:** Displays all your active loans, NFT offers and collection offers. * **Listings:** Displays all the listings looking for a lender and the active listings * **Collections:** Displays all supported collections and all the collection offers

The 4 sections of JPEG'd P2P

## Borrowing ETH or USDC 1. **Open a Loan**: NFT owners can accept existing loan offers or list their own loan requests. 2. **List Loan Request**: If suitable offers are not available, NFT owners can specify their desired loan terms. 3. **Close a Loan**: Loans can be closed anytime by repaying the principal and interest, allowing the borrower to reclaim their NFT. 4. **Get Better Terms:** Lenders can automatically refinance a loan by offering better terms to the borrower, automtically decreasing the borrow cost. 5. **Per Block Interest:** Interest gets accrued every block. If you repay early, you only repay the interest accrued until repayment. 👉 View our guides for borrowing [here](/jpegd-dao/peer-2-peer-lending/for-borrowers.md) ## Lending ETH or USDC 1. **Lending Offer**: Lenders can make offers on specific NFTs or as collection offers, specifying the terms. 2. **Refinance**: Lenders can offer better terms to borrowers with existing loans, repaying the accrued interest to the original lender. 3. **Set a Minimum Interest:** Lenders can specify a minimum interest that they'll earn in case of refinancing or early close of the loan. 👉 View our guides for lending [here](/jpegd-dao/peer-2-peer-lending/for-lenders.md)