(also attached flow chart of summarised rules.for those who love to go-ahead successfully without mistske)
By using the NFT Loan Service, you confirm that you have read, understood, and accepted all NFT Loan Service Terms.
If you do not accept these Terms in full, do not use the NFT Loan Service.
These Terms govern your access to and use of Binance NFT Loan Services.
NFT Loan Service Terms supplement Binance Terms of Use and Binance NFT Marketplace Terms.
You must meet Binance’s eligibility criteria to use NFT Loan Services.
Binance may change eligibility criteria at any time.
You must notify Binance if you no longer meet eligibility requirements.
You confirm you are legally allowed to use NFT Loan Services.
When you borrow, Binance acts as lender and you act as borrower.
Binance may suspend, modify, or terminate NFT Loan Services at any time.
You bear all risks related to your use of NFT Loan Services.
Loans require Eligible NFT Collateral with value exceeding the Loan Amount.
Deposited collateral cannot be traded or withdrawn.
Binance determines which NFTs qualify as Eligible Collateral.
Collateral value is based on floor price set by Binance.
Binance may change collateral requirements and LTV at any time.
Failure to meet collateral requirements may require partial or full repayment within 24 hours.
Binance may liquidate collateral without prior notice if requirements are not met.
Binance holds full rights over collateral until loan repayment.
No interest is paid on deposited collateral.
Loan term is indefinite unless liquidation or failure to meet requirements occurs.
Loaned assets may be used or withdrawn as permitted by Binance.
Binance may require repayment if collateral or loan assets become ineligible.
Loans can be repaid partially or fully at any time without penalty (before liquidation).
Repayments are applied first to fees, then interest, then principal.
Collateral is automatically transferred to Binance’s collateral account.
Liquidation may occur anytime if LTV exceeds limits.
Liquidation fees apply (default 5% of loan balance).
You are responsible for monitoring collateral and loan health.
Interest is calculated daily based on loan balance.
Binance may change interest rates and fees at any time.
Default includes late payment, liquidation events, false information, or legal issues.
Upon default, Binance may liquidate collateral and terminate accounts.
Binance is not obligated to pass airdrops or fork benefits to you.
You must review loan statements within 7 days or they become final.
Binance is not liable for losses unless caused by fraud or willful default.
Disputes are governed by Binance Terms.
Obligations survive even after account suspension or termination.
Capitalized terms follow Binance’s official definitions.
You must read and accept all Terms and Conditions before proceeding.
NFT LOAN SERVICE – HIERARCHICAL FLOW DIAGRAM
NFT LOAN SERVICE
│
├── 1. USER ENTRY & ACCEPTANCE
│ ├── Read NFT Loan Service Terms
│ ├── Accept Binance Terms & NFT Marketplace Terms
│ └── Decline → Service access denied
│
├── 2. ELIGIBILITY CHECK
│ ├── Meet Binance eligibility criteria
│ ├── Ongoing compliance required
│ └── Eligibility failure → Service suspension
│
├── 3. NFT COLLATERAL SETUP
│ ├── Select Eligible NFT Collateral
│ ├── NFT transferred to Binance Collateral Account
│ ├── Collateral locked (no trade / withdrawal)
│ └── Collateral value set by Binance floor price
│
├── 4. LOAN APPLICATION
│ ├── Choose Loanable Digital Asset
│ ├── Loan Amount < Collateral Value
│ ├── Binance approves or rejects
│ └── Approved → Loaned Assets credited
│
├── 5. ACTIVE LOAN MANAGEMENT
│ ├── Daily interest accrual
│ ├── LTV & Health Factor monitored continuously
│ ├── Binance may change LTV / requirements
│ └── User responsible for risk monitoring
│
├── 6. REPAYMENT OPTIONS
│ ├── Partial repayment (any time)
│ ├── Full repayment (any time)
│ ├── No penalty before liquidation
│ └── Repayment order:
│ ├── Fees
│ ├── Interest
│ └── Principal
│
├── 7. COLLATERAL STATUS
│ ├── Loan repaid → NFT returned
│ ├── Loan active → NFT held by Binance
│ └── No interest earned on collateral
│
├── 8. RISK EVENTS
│ ├── LTV breach
│ ├── Market volatility
│ ├── Eligibility loss
│ └── Default triggers
│
├── 9. LIQUIDATION PROCESS
│ ├── Liquidation Event occurs
│ ├── Binance may liquidate without notice
│ ├── Liquidation Fee applied (default 5%)
│ └── User bears all losses & fees
│
├── 10. DEFAULT & ENFORCEMENT
│ ├── Late payment
│ ├── False representation
│ ├── Legal / regulatory issues
│ └── Binance actions:
│ ├── Account suspension
│ ├── Collateral sale
│ └── Loan acceleration
│
├── 11. ADDITIONAL CONDITIONS
│ ├── No guaranteed airdrops or forks
│ ├── Statements final after 7 days
│ └── Binance liability limited (no indirect loss)
│
└── 12. TERMINATION & SURVIVAL
├── Service termination possible anytime
├── Outstanding obligations remain
└── Terms survive termination.
