Unique NFT of RentaFi
A maximum of two NFTs will be minted when depositing NFTs.
The two types of NFTs are
- oNFT for withdrawing deposited NFTs
- yNFT for redeeming rental fees that accrue during the lock period
An oNFT is minted when an NFT to be lent is deposited in a contract. oNFT is transferred to the owner of the oNFT when the oNFT is burned. Since oNFTs are transferable and sellable, it is possible to operate oNFT while they are being rented.
When renting without minting a yNFT, the number of days until withdrawal shown on the oNFT will be displayed as 0day.
yNFT is minted for a lock period. The NFT is used to redeem rental fees incurred against the deposited NFT during the Lock period, and the yNFT is used to transfer the rental fees to the owner of the yNFT.