BNPL Pay BNPL Pay intends to disrupt global lending markets by creating a unique unsecured lending protocol.
The BNPL Pay protocol will allow users to borrow funds through its P2P distributed lender system, natively running on the Ethereum blockchain.
The developers eliminate the counterparty risk, associated with unsecured borrowing, through a distributed network of banking nodes. The system delegates credit checks, risk assessments and other due diligence tasks to pool operators and creates a set of incentive structures that reward efficient operators and punish inefficient ones.
While lenders can choose an operator that suits their risk and reward preferences. Borrowers can apply for a loan at any or all banking nodes and, if approved, they will be granted loans on fully capable and agreed terms.
How to participate in lending:
| 1. | Go to the loan page in the BNPL web app to see an overview of all available pools. |
| 2. | Click on a pool to see more details. Once you have selected a node, you can deposit USDT. |
| 3. | You need to follow the instructions to claim USDT, deposit USDT, claim pUSDT and deposit pUSDT. You can unlock your pUSDT, withdraw USDT, get BNPL reward. |
Loans can be initiated by selecting a loan from a pool of bank nodes or by starting from the Borrow page. From the loan page - go to the loan page to select a bank node from the available pool and click the button on the right. This will take you to the node details where you can click the "Request a loan" button in the top right corner.
From the “Loan” page - go to the “Loan” page to find the “Create New Loan” button along with details of any current loans.