🪶Buy Now Pay Later (BNPL) Q&A

AHow we match borrower with lender

Which collections are supported for Buy Now Pay Later?

There is a whitelist for supported collections for xBank private beta release. For further information, please take a look at our social medias.

Which marketplace is supported by xBank?

xBank is an open money market providing Buy Now Pay Later service as onboarding leverage for new adopters. Collections listed on OpenSea and Blur (coming soon) are supported by xBank for buy now pay later backed by money market.

Is it safe to buy NFT with a BNPL service?

Your NFT will be staked in a smart contract vault and you will be able to get it once you paid off the payment plan.

Where Does These Lending Offers of BNPL Payment Plans Come From?

Lending offers of payment plans come from individual liquidity providers on xBank and they will get interest from your payment plan.

What is the fee of BNPL?

There is no BNPL fee currently on xBank.

Will the loan terms change according to the market?

Nope. LP is not allowed to send you a margin call for repayment, the only thing you need to do is just stick to your payment plan and repay on time.

What will happen if I failed to repay on time?

If one of your loans defaults on repayment, the NFT collateral of this loan will be liquidated to LP, and you will no longer get this NFT back by continuing to repay. Even if the NFT is listed to sell, you need to repay the loan on time before the listed NFT is actually sold, otherwise, the NFT will be liquidated to the LP in case of overdue.

What is the difference between Repay and Pay Off Now?

Repay means paying according to payment plan for each installment.

Pay Off Now means paying all the rest of payment plan in advance including principal and interests.

How to end the payment plan as early as possible?

Through prepayment or just use Collateral Selling to sell NFT to recovering principal and interests.

How to calculate the interest accrued of a prepayment?

Interest accrued from a prepayment = rest amount of principal * daily APR * loan period in days

Can I get airdrops or staking in pools of the purchased NFTs while using BNPL?

It depends on how the collection owners implement their airdrop and staking strategies. xBank will make sure to fulfill user needs and make the money market utilized the best. For further information, please take a look at our social medias.