Platform fees refer to the service charges incurred while using the NFTFi service. The scenarios in which platform fees are applied are as follows:
1. Borrower - registrating the borrow application - Platform fees charged in WEMIX$. - When registering a borrow application, a specific platform fee rate is applied based on the requested borrow amount, which varies depending on the bid period. *12 hours (0.10%), 24 hours (0.20%), 36 hours (0.30%), 48 hours (0.40%) - If a borrow application is approved, the platform fee will be refunded along with the borrow amount when you receive the total amount.
2. Lender - receiving the lend rewards - Platform fees charged based on the same token as the standard token of Borrow. - When receiving the repayment amount, 5% of the lend reward is applied. - During the process of receiving the repayment, you will receive the repayment amount minus the platform fee. - If there is no repayment amount to be received due to the borrower's non-repayment, no platform fee is charged.