How to manage your loan

Once you've taken out a loan against your NFTs with Unlockd, managing it is crucial for maintaining your financial health within the protocol.

This section provides detailed guidance on viewing loan details, adding or removing NFTs from collateral, borrowing more, and repaying your loan.

Access Loan Details
  1. Go to "My Active Loans": Your active loan appears under this section.

  2. Expand for Details: Click on a loan to see details of each NFT collateral.

Key Metrics Explained:

  • Valuations: Total and individual NFT valuations give insights into the collateral's worth.

  • Liquidation Price: Shows the market value threshold for potential liquidation.

  • Health Factor: Indicates the loan's safety margin; higher is better.

  • Borrowed Amount & Available to Borrow: Reflects the current borrowed sum and additional borrowing capacity.

Metrics for multi-NFT collateral loans are aggregated due to the collective nature of the collateral. This approach simplifies the management and understanding of the loan's overall health and risk level, focusing on the combined strength of your NFTs rather than individual pieces.

Add NFTs to your Loan's Collateral

Remove NFTs from your Loan's Collateral

This process allows you to adjust your collateral according to your current needs while ensuring your loan remains in good standing within the Unlockd ecosystem.

  1. Navigate to Your Loan: Find the loan you wish to adjust and click "Manage Loan."

  2. Choose "Remove NFTs": This option will present you with the NFTs currently serving as collateral.

  3. Maintaining Health Factor: Ensure your loan's Health Factor remains above 1. To facilitate this:

    • Repayment Option: A field is available for specifying an amount you wish to repay, helping to mitigate the impact on your Health Factor.

  4. Finalize Removal: After making your selections and adjustments, click "Remove."

  5. Transaction Approval: Confirm and approve the transaction in your wallet.

Successfully removed NFTs will be returned to your Unlockd Account, ready for future use.

Borrow more on your active Loan

This feature offers flexibility to increase your loan amount, provided your loan's health remains robust, allowing for immediate access to additional funds when needed.

Starting the Process:

  1. Access Your Loan: Locate the loan you're interested in and select "Manage Loan."

  2. Select "Borrow More": This action opens a modal for additional borrowing.

Eligibility and Input:

  • Health Factor Check: Ensure your Health Factor is comfortably above 1 to proceed. If it's below or dangerously close to 1, borrowing more won't be possible.

  • Specify Amount: Enter the desired additional amount. Watch as the Health Factor, liquidation price, and other relevant metrics adjust in real-time with your input.

Displayed details include the loan's total valuation, current liquidation price, amount already borrowed, and the total available for borrowing.

Completing the Borrowing:

  • Initiate Loan Extension: After setting the amount, click "Borrow."

  • Transaction Confirmation: Approve the transaction in your wallet, including the necessary gas fee.

  • Funds Transfer: The borrowed funds will be transferred directly to your personal wallet, not your Unlockd Account.

Repay partially or totally your Loan

Navigating to Repay:

  1. Locate Your Loan: In the "Borrow" section, find the loan you wish to manage.

  2. Access "Manage Loan": Click on it, then select "Repay" to open the repayment modal.

Repayment Details:

  • Penalty for Low Health Factor: If repaying to prevent liquidation due to a Health Factor (HF) below 1, note there's a penalty fee.

  • Minimum Repayment: The modal displays a "Min to pay" amount, which is the minimum required to lift your HF back above 1.

  • Flexible Repayment: Apart from the minimum to prevent liquidation, you're free to choose partial repayment to improve your HF or full repayment to close the loan and return NFTs to your Unlockd Account.

Repayment Process:

  1. Repayment Asset: Ensure you repay with the same asset type you borrowed.

  2. Initiate Repayment: Enter your desired repayment amount, then click "Repay."

  3. Transaction Confirmation: Approve the transaction in your wallet, covering any necessary gas fees.


Upon successful repayment, your loan's HF will adjust accordingly. For full repayments, the loan closes, and collateral NFTs are transferred back to your Unlockd Account, marking the loan as settled.

Sell instantly an NFT from your Loan's Collateral at Market Value

Please, refer to our step-by guide to selling, listing or auctioning assets.

List an NFT from your Loan's Collateral at a Fixed Price in the Unlockd Marketplace

Please, refer to our step-by guide to selling, listing or auctioning assets.

Auction an NFT from your Loan's Collateral in the Unlockd Marketplace

Please, refer to our step-by guide to selling, listing or auctioning assets.

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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