Rain.fi is a decentralized P2P lending and borrowing protocol that offers a unique way to buy leveraged tokens without liquidation based on the value of the collateral, but based on the term of the loan. This allows leveraged trading without the risk of being liquidated.
Rain.fi is the first protocol to mortgage/buy now, pay later on NFTs, allowing users to purchase high value NFTs without having to pay the full price up front.
Lending
Borrow SOL or USDC using your NFTs or tokens as collateral.
During the loan period, your NFTs will be locked in your wallet, allowing you to continue to receive airdrops, maintain access to DAO, and qualifying for snapshots.
Early repayment of the loan is rewarded with a lower interest rate, and failure to repay will result in liquidation and loss of ownership of the NFTs or tokens used as collateral.
Rain allows lenders to create their own pools by pre-setting loan terms such as LTV, accepted collections, loan length and interest rate. This improves efficiency because lenders don't have to manually lend funds, calculate loan-to-value ratios, and research market pricing. Loans are automatically accepted or rejected based on set conditions, and lenders only need to manage their pools when they want to close or optimize them.
If the loan is not repaid at the end of the grace period, the borrower's NFT will go straight to your wallet.
Price oracle
Rain uses the own proprietary oracle to store and update data on every supported collections floor in the chain. Then they use it to calculate the SOL/USDC amount you can borrow based on the loan-to-value ratio set by the lender.
Rain uses both Pyth and Switchboard oracle to get the price of tokens on chain.
