Repaying a loan, including any associated fees, on the Aconomy platform is a crucial step in maintaining your financial agreements and ensuring a smooth lending and borrowing process. Here's how to repay the loan and fees:
1. Borrower's Responsibility:
As a borrower, it's your responsibility to repay the borrowed funds along with any fees before the expiration date agreed upon in your lending agreement.
2. Access Your Borrowed NFT:
Start by navigating to your Aconomy profile, where you can manage your borrowed NFT assets. Locate the NFT that you borrowed money against.
3. Initiate Repayment:
On the NFT details page for the borrowed asset, you will find an option to "Payback" or "Repay." Click on this option to initiate the repayment process.
4. Confirm Repayment Details:
A repayment card or message will appear, providing details about the amount to be repaid, including the borrowed funds and any associated fees. Review this information to ensure accuracy.
5. Confirm and Sign:
To proceed with the repayment, you will need to sign the transaction using your wallet. This step confirms your intent to repay the borrowed funds and fees as agreed upon in your lending agreement.
6. Funds Repaid:
After successfully confirming and signing the repayment transaction, the borrowed funds and any associated fees will be repaid to the lender. This fulfills your financial obligation and ensures a successful completion of the lending agreement.
By following these steps, borrowers can easily repay the borrowed funds and fees, maintaining a positive lending and borrowing experience on the Aconomy platform. Repaying loans and fees in a timely manner is essential for establishing trust and reliability within the platform's lending and borrowing ecosystem.