Loanz
Get a stablecoin (USDC) loan without selling your FanzUp tokens.
Last updated
Get a stablecoin (USDC) loan without selling your FanzUp tokens.
Last updated
Everyone is approved
No application or approval process is required.
No personal information is collected.
All loans have a 10% Collateral Deposit fee.
FanzUp tokens are deposited and held as collateral to secure the principal loan amount. In a case where the borrower doesn’t repay the loan with USDC, the token collateral is liquidated (sold) to cover the Loan Payoff.
Collateral Value = FanzUp Token Value - 10% Collateral Deposit Fee
A high loan-to-value (LTV) of the collateral provided by the borrower can be loaned, making FanzUp's loan program very attractive compared to other permissionless (no application or documentation required) DeFi or TradFi loan programs.
LTV % = (Principal Loan Amount / Collateral Value) x 100%
In other DeFi loan protocols, if the asset used for collateral reduces in value, it could trigger a liquidation event. With a FanzUp loan, if the collateral assets increase in price during the term of the loan, the borrower is returned those higher value assets when the loan is repaid.
A borrower selects the loan amount, loan-to-value (LTV) and deposits the required Collateral Value in the form of any FanzUp token. Loan limits and simple interest fees are based on the LaunchPass Level:
Inner Circle
1
30000
10%
14 days
0.150%
VIP
2
12000
10%
13 days
0.175%
Die Hard
3
4800
10%
12 days
0.195%
Fanatic
4
1920
10%
11 days
0.215%
Mega Fan
5
750
10%
10 days
0.230%
Super Fan
6
300
10%
9 days
0.240%
Fan
7
120
10%
8 days
0.250%
Multiple loans can be borrowed, until the total of all loans equals the Max Loan Amount.
After the Interest-Free Period ends, simple interest is charged daily on the principal loan amount and added to the Loan Payoff.
Loan Payoff = Principal Loan Amount + Simple Interest Fees
When the Loan Payoff is paid with USDC, the borrower will be returned the Collateral Value of FanzUp tokens deposited as collateral.
A liquidation event will occur if the Collateral Value is less than the Loan Payoff.
When a loan is liquidated, the collateral will automatically be sold by the smart contracts to satisfy the Loan Payoff.
A borrower may force instant liquidation through the Loanz dashboard at any time.