LENDFi Whitepaper v1.0
  • Welcome to LENDFI
  • Introducing LendFi
  • 🌎LendFi Overview
    • Traditional Lending
    • AI
    • Research Summary
    • Ecosystem
    • $LendFi
  • ✨PROJECT INFO
    • P2P Lending
      • How to Lend
      • Loan Limit
      • Liquidity LTV
      • Loan Term
    • Borrowing
      • How to Borrow
      • Loan Repayment
      • Interest Rate
      • Loan Term
      • Multiple Borrowers
      • Liquidations
    • Staking
      • LendFi recruitment Commission
      • Stable coin and cryptocurrency
      • Lendfi Staking Packages
    • LendFi Swap
  • đŸĨGAMEFI ECOSYSTEM
    • Gamefi Overview
      • Key Features
      • Functions
      • Featured Games
  • đŸŽ¯PROGRAM
    • Download App
    • Receive Rewards
  • đŸŸŖLendFi Token
    • Overview
      • Why LendFi
    • Mission & Vision
    • FAQs & Answers
  • 🎈LendFi Tokenomics
    • Token Summary
      • Token Utility
      • Token Burning
      • Token Governance
  • âšŊROADMAP
    • LendFi Roadmap
      • Q1-Q3: 2023
      • Q4: 2023
      • Q1: 2024
      • Q2-Q4: 2024
  • đŸ›Šī¸Platforms
    • Social Media Channels
    • Web3
    • Support and Contact
  • Legitimacy
    • 🍀LendFi Partners
    • 👨‍đŸĢAudit Report
    • đŸŽŊKnow your Customer (KYC)
    • đŸ’¯SAFU
  • 🧊Conclusion
    • Privacy Policies
    • Glossary
    • References
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  1. PROJECT INFO
  2. Borrowing

Multiple Borrowers

Combine efforts to succeed!

It's noteworthy that a single loan order can be shared among multiple borrowers.

For example: If person A creates a $10,000 loan order, persons B, C, and D can borrow $2000, $5000, and $3000, respectively, each requiring collateral corresponding to their borrowing amount.

Upon successful borrowing, the loan order is processed. The borrower pays a 0.15% fee in LENDFI to the platform.

The borrower then adheres to the terms of the loan contract, and at the end of the loan term, interest and collateral are automatically settled.

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Last updated 1 year ago

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