Example:
If the loan quantity is 5 000 USD then your partial automatic loan repayment should be initiated only if the worthiness of one’s collateral decreases to significantly less than 6 000 USD.
Loan amount: 5000 USD;Value of security: 6000 USD;Loan-to-Value = ($5000/$6000)*100% = 83.33per cent
The full total value of your crypto assets in addition to minimum quantity that will trigger the little loan that is automatic is seen whenever you want below of all of the your crypto roles in your Nexo account.
The customer will get no less than three notifications (via SMS and e-mail) before that. This may happen as soon as the Loan-to-Value increases to 71.4%, 74,1%, 76.9%. The customer are going to be prompted to deposit more crypto assets into their Nexo account to avoid partial automated loan repayments.
Take note that the Nexo blockchain oracle shall perhaps not offer all crypto assets at a time. Offer sales are performed in tiny increments just just as much as to rebalance the Loan-to-Value straight straight back inside the limitations. Offer market purchases were created at the selling price on leading cryptocurrency exchanges. The deal is conducted through API on a number of the major exchanges (in other terms. [Read more...]