🙋Charges for using DecentraCredit

DecentraCredit takes the minimum possible amount from the borrowers to facilitate the loan issuance process.

Charges for Procuring a Loan: 0.5% of the loan amount. Thus, if someone taking a loan of 500 USDT against, say BTC, will pay 0.5% of 500. As 0.5% of 500 = 2.5 USDT, he will pay 2.5 USDT in this case.

This will be deducted from the issued loan amount while issuing. Thus, he will receive 497.5 USDT after the processing fee is deducted. Charges for Liquidation: If a debt goes bad and auto-liquidation is triggered, the charge is a flat 100 USDT. The collateralised asset will be liquidated, the lender will be paid in full for the Principle + Interest incurred, the system will be paid 100 USDT and then the remaining will be sent back to the borrower as USDT. If after paying the lender, less than 100 USDT is left, the whole will be taken as the system charges.