➕Create a request

Creating a request requires the user to connect their wallet to be able to interact with the Lenfi P2P (Aada V1) dApp.

After connecting their wallet to the protocol, users must navigate to the CREATE REQUEST button at the top right corner of the loan request menu in the MARKET tab. By hitting the button, a pop-out window opens, allowing them to create a loan request with fully customizable parameters. Here are the key specifications of every loan request:

Step 1: Loan type. The user must choose the type of loan request to submit. Choosing the Request liquidity will allow the user to submit a borrower request, while choosing Deposit liquidity will enable submitting an offer as a lender.

Step 2: Loan details. After choosing the loan request type, the user can choose the token type and the amount to lend/borrow.

Step 3: Interest details. The user must fill in the loan term parameters in days and hours. The dApp will then suggest a feasible Interest to ensure the loan is healthy. The Interest is payable in ADA or LENFI. The specified amount is paid when the Borrower returns the loan.

Step 4: Collateral. The user sets the desired token and the collateral amount . The dApp provides a recommended amount for greater ease of use. If the collateral is below 1.0 Health Factor, the app doesn’t let it proceed. In addition, the user can set a loan expiration date, which will remove the request from the market after a certain period.

Step 5: Confirmation window. The user can double-check the request parameters. When ready, the same can press the Confirm button and trigger the wallet pop-up to sign the transaction.