# Mortgage Lending

Any NFT holder can choose to immediately receive up to X% of the initial listing price in liquidity assets after mortgaging their NFT. The mortgagor must repay the loan, including interest, on a regular basis after the transaction, otherwise their mortgaged NFT will enter a liquidation status.

1. Users who want to obtain liquidity assets (currently only USDT) can apply for a loan and borrow USDT from the borrower's pool by selecting the loan percentage and term they want to use to mortgage their NFT.
2. The mortgaged NFT will record the loan information and be returned to the user, who can still receive the actual revenue generated by the mortgaged NFT off-chain.
3. Users who need to borrow money must repay it in equal installments with interest. Once the nearest repayment date has passed, the NFT enters a liquidation state. You can find more details about the interest rate model in the documentation.
4. Users who apply for a loan can receive experience points and token incentives. The longer a user participates in the community and contributes to it, the higher their user level, the lower the interest rate for loans, and the higher the available loan amount.


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