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Asset’s Primary Node
Pledgor (Borrower) and his FinP2P Node
Pledgee (Creditor) and his her FinP2P Node
Collateral Manager
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Using the Intent Management API the Asset’s primary node publishes to the network information regarding his its Asset, sharing the Asset with a Collateral Manager indicate that the Asset may be used as a collateral.
Given Asset information by a Primary Node, the Collateral Manager may create a Pledge Plan resource and share the it with other nodes on the network.
Pledgee creates an Intent to provide a loan for the Asset in exchange for another Asset for a specific interest rate, the intent creation is routed from the Pledgee Primary Node to the Collateral Manager.
Collateral Manager may enforce some validation and checks intent created and the proposed Pledgee, if the Pledgee information and certification is not known to the Collateral Manager he they may use the Get resource information APIto fetch the information.
Pledgor interested in the Loan offer may execute the intent,The Collateral Manager will start processing of the intent.in case of successful operation, the Pledgor will receive the agreed Asset amount while the Pledgee will receive an NFT which represent his her ownership and role in the Loan.
Loan may end in a Release, where the Loan is payed fully be the Pledgor, or Default when Pledgor fails to fulfill the Loan conditions.
Release - the Pledgor executes a Pay API call to the Collateral Manager, including signed Payment instruction towards the Loan beneficiary, note that if the Loan NFT is transferable, the Pledgor will need to get the beneficiary payment information from the Collateral Manager prior to the payment.
Default - in case the Collateral Manager deems the Loan as defaulted he they may forfeiture the pledged Asset by releasing it to the NFT loan beneficiary
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