How to take an instant loan

Unlockd simplifies the process of leveraging your NFTs for instant liquidity without selling them.

This guide walks you through creating your Unlockd Account, depositing NFTs, and securing a loan with straightforward, step-by-step instructions.

Create your Unlockd Account

Before taking an instant loan, ensure you've created your Unlockd Account. If you haven't done this yet, please refer to our How to Create Your Unlockd Account Tutorial for a step-by-step guide.

Fund Your Unlockd Account
  1. Accessing the Borrow UI: Once your Unlockd Account is set up, navigate to the Borrow section. You'll find sections for "My Available NFTs" and "My Active Loans," likely empty for new users.

  2. Deposit NFTs: You'll see a prompt, "No NFTs in your Unlockd Account yet. Deposit from your personal wallet to start borrowing," accompanied by a "FUND UNLOCKD ACCOUNT" button. Note: If you don't own any supported NFTs, acquire some first. On testnets, free NFTs may be available via a Faucet.

  3. Select NFTs for Deposit: If you have supported NFTs in your wallet, they'll be displayed along with details like valuation, available borrowing amount, and current interest rates. Select the NFTs you wish to deposit. You can remove any selected NFT by clicking the "X" on its image. When ready, hit 'Fund Unlockd Account'.

  4. One-Time-Approval for Collections: For each selected NFT's collection, complete a one-time approval process. This avoids the need to approve each NFT individually.

  5. Finalize Transfer: After approvals, sign the final transaction to move your NFTs from your personal wallet to your Unlockd Account. Successful transfer updates the "My Available NFTs" section, enabling the "Start Borrowing" button.

Take an Instant Loan with one or more NFTs as collateral

Hit "Start Borrowing"

Upon selecting "Start Borrowing," you'll enter the loan creation interface. This process allows you to use your RWAs and other NFTs for instant loans.

Add NFTs to Collateral

  • Select Your NFTs: Your supported NFTs already deposited to your Unlockd Account are displayed for easy selection. Click on an NFT to add it to your collateral; click again to remove it.

  • Experiment with Combinations: Feel free to explore different collateral combinations. The interface dynamically updates to show the total valuation and available borrowing amount based on your collateral selection.

Customize Your Loan

  • Set the Borrow Amount: Enter the desired loan amount or select "MAX" to borrow the maximum based on your collateral's value.

  • Monitor Loan Metrics: Watch how changes in the borrow amount affect the liquidation price and your loan's health factor. These metrics are crucial for understanding the safety and terms of your loan.

Finalize the Loan

  • Create Your Loan: Once you're satisfied with the loan conditions (collateral and amount), click "Create Loan." Remember to check the Interest APR before commiting.

  • Confirm the Transaction: A blockchain transaction will be initiated. Review and confirm this transaction, which will require a small gas fee.

Loan Activation

  • Success: After confirming the transaction, your loan is activated immediately. You'll see updated details in "My Loans" on the dashboard, reflecting your new borrowing status. Your funds will arrive immediately to your personal wallet, not to your Unlockd Account, for your convenience.



Screenshots in these guides are mock-ups and may differ from the live platform, particularly in text details. The Unlockd team regularly updates guides to reflect UX improvements.

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