Infy Protocol
Infy is decentralized Lending and Renting Protocol for NFTs.
How it work
Min Lend Duration:
It is imperative that you understand that this is the minimum number of days that your NFT can be rented out for by someone else. Therefore, be careful not to set it for too long, and it must be lower than the Maximum Lend Duration
Max Lend Duration:
It is imperative that you understand that this is the maximum number of days that your NFT can be rented out for by someone else.And it must be higher than the Minimum Lend Duration. Therefore, be careful not to set it for too long and, because if the floor price of the NFT rises, the renter may choose to not return the NFT. Think of lending as selling a call contract with a strike price of the collateral. If the floor price during the rent goes up to 2 ETH and you have set the collateral price at 1 ETH, then there is obviously a profit of 1 ETH for the renter.Therefore, it is important to actively monitor the market and update your lending when required. Another good way to manage this risk is to set a small max lend duration, such that it is less likely that the floor price goes up during the rent.
Borrow Price (Per Day):
How much the renter will pay you per day for renting the NFT. The payments are accrued per second. If you return the NFT earlier, the correct amounts will be compensated back to you. Keep in mind, that when renter rents, they will pay both the full amount of rent, as well as collateral. This will go into the INFYLend contract for escrow. Also note, due to the design of the contract, the numbers are limited to 4 decimal places for both the borrow price and the collateral. Also, note, that the whole number cannot exceed 4 digits. This means that the max number is 9999.9999 and the min number is 0.0001.
Collateral (Per Item):
Collateral if the standard is 1155. For example, the collateral is 200 WETH. However, since the standard is 1155, the renter will pay 2 * 200 WETH. This is a crucial distinction versus 721. KEEP THIS IN MIND when lending the 1155 standard!