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Liquidation

Pawn Liquidation

Asset is fungible token (ex. Alt Coins/ Computing power ... etc.)

When default happens, the collateral asset will be directly distributed among the borrower and lenders proportionally based on repayment status and allocations of this Pawn contract.

Asset is non-fungible token (ex. NFT-721/ NFT-1155 ... etc.)

When default happens, the collateral asset will first be liquidated via auction among lenders of this Pawn contract. The auction proceeds will be distributed to the borrower and lenders proportionally based on repayment status and allocations.
If none of the lenders purchase the collateral asset, the asset will be sold on Pawnfi and other partner platforms at the same time. The selling proceeds will be distributed to the borrower and lenders proportionally.

Lease Liquidation

When default happens, the deposit or collateral asset will be directly distributed to lessor and lenders (if lessor at the same time initiated a Pawn contract for unreturned asset)
Last modified 2mo ago