# Pawnfi Guide Book

Welcome to Pawnfi Protocol.

Pawnfi, the Pioneering NFT Liquidity Initiator, is reshaping NFT finance with our comprehensive All-In-One system. We cater to everyone in the NFT community, from holders and traders to newcomers, providing a platform to effortlessly trade, lend, and earn. Experience the transformation of NFT finance with Pawnfi, where every user can tap into the full potential of the NFT ecosystem.

This guide book provides crucial guidance for navigating Pawnfi. Use the index below to jump to the specific guide you're interested in exploring. 

Please be aware that all the NFTs used in this guidebook are purely for illustrative purposes. If you are the owner of any of the depicted NFTs and wish for them to be removed, please contact us via [Discord](https://discord.com/invite/pawnfi) and we will make the necessary changes promptly.


# How to create a wallet

Create wallet

**Install Metamask Browser Extension**

* Google Chrome is recommended. Click the link below for installation.

{% embed url="<https://chrome.google.com/webstore/detail/metamask/nkbihfbeogaeaoehlefnkodbefgpgknn>" %}

**Create a Wallet**

I. Once installation is completed, you will jump to this page. Click the ***Get Started*** button. If the webpage is not jumping, you can click Metamask on your extensions toolbar to open manually.

![](/files/Nq1vSNGj1DiYVUpt8S9l)

II. Click ***Create a Wallet***

![](/files/LWGVMRPcwresiXuDi1wn)

III. Click the ***I Agree***

![](/files/d8F5locsWjNmKeGSFxBj)

IV. Create a password for your wallet. This password is to be entered every time the browser is launched to use MetaMask and to export private key.

![](/files/Ac4PWS6LdtcIzjbi4Stc)

V. Watch the video to learn how to keep your wallet safely. Once done, click ***Next***. **Strongly recommended for beginners!**

![](/files/VFP4zjPU8yhYH1oihoeC)

VI. Store your Secret Recovery Phrase in a safe place. If you lose this series of words or forget what order they’re in, you *will* lose access to your wallet and it will be unrecoverable. We recommend writing the phrase on a piece of paper and storing it in a memorable, safe, and secure spot.

![](/files/AjLxzS5LyhVvszBJCnpe)

VII. Click the 12 words in order to generate your own Secret Recovery Phrase.

![](/files/KG1ECHOiEg0VPGcQERpJ)

VIII. Complete the above steps and CONGRATULATIONS! Now you have your first digital wallet!


# How to connect to wallet

Take Metamask as example

I. Click ***Connect to Wallet*** and select ***Metamask***

II. Click ***Next*** on the pop-up, and then click ***Connect***

![](/files/khyfQPDKKmCfId5Yuwc7)

![](/files/487o3tak73AHMrloUfhG)

III. If the button you clicked at step1 turns into a wallet address, it means that you have successfully connected to your wallet.


# How to add network

Take Metamask as example

I. Open Metamask > ***Account*** > ***Settings > Networks***

![](/files/0J3odC3OoPlzyrWqCDEH)

II. Click ***Add Network***

![](/files/1WiAH6RAWsSL3GGXf4aa)

III. Fill-in the **details** then Save:

![](/files/qVoFupzE7EJty1z2Abe4)

&#x20;· Network Name: Anything that easier for you

· New RPC URL: Fill in according to the configuration

· Chain ID: Fill in according to the configuration

· Currency Symbol (optional): for example, ETH.

· Block Explorer URL (optional)

IV. After performing the above steps, you will be able to switch to the Custom RPC network in your Networks.

![](/files/MW86nP5oPiKMgb4wSN3N)


# What is gas fee?

Gas fees are **payments made by users to compensate for the computing energy required to process and validate transactions on the Ethereum blockchain**.&#x20;

![](/files/ovzhNCc1X7cHjhZnpCK1)

For example, if you want to transfer 100 USDT from address A to address B, you need to have 100 USDT in your wallet and also a certain amount of native coins to initiate a transaction.

Ex. ETH on Ethereum/ MATIC on Polygon Network/ BNB on Binance Smart Chain


# Dashboard

Click \[Dashboard] in the navigation bar to enter this page

<figure><img src="/files/tiT31ghyHNNJYF5Uprjv" alt=""><figcaption></figcaption></figure>

In this page, you can see all the personal relevant information in Pawnfi

### 1. About Activity/ Token Market/ NFT Listings

<figure><img src="/files/BOGNuv1He783rIiJCMuF" alt=""><figcaption></figcaption></figure>

In this area, you can see Pawnfi's latest events/ announcements; token prices and quick navigation for trading; new NFT listings, and directly join in Pawnfi's communities.

### 2. About Lending Market

<figure><img src="/files/sMQBzAyRzD4C6uSrs73y" alt=""><figcaption></figcaption></figure>

In this area, you can see

* Top 3 markets with the largest supply volume
* Top 3 markets with the largest borrow volume
* Your current Supply, Borrow, and Limit Used
* Your position in Supply & Borrow

### 3. About Pawnfi SAFE

<figure><img src="/files/c2nsVDRnQNAJ1FnnF1hp" alt=""><figcaption></figcaption></figure>

In this area, you can see

* Current placing situation among the market, total voting power, average placing time, and expected APY
* Your placed token amount, current voting power, claimable token amount, and your percentage of voting power among the market
* SAFE schedule for your $PAWN
* Your current available Safety Incentives

### 4. About Liquidity Mining

<figure><img src="/files/94hnAnaumQX7UoYINIan" alt=""><figcaption></figcaption></figure>

In this area, you can see

* Total TVL of liquidity mining in the market, weekly rewards, and expected APY from liquidity mining
* Top 3 lending pools with the highest gauge weight
* Liquidity (iToken) you currently stake
* Your current available liquidity mining rewards

### 5. About Calendar

<figure><img src="/files/Bhl8n9iqP1w3r5K2NiOs" alt=""><figcaption></figcaption></figure>

In this area, you can see events on particular days, which include:

* Start and end date of an event
* Order expiration date
* Liquidation alert
* $PAWN displace notice
* ...etc.

### 6. About My Records

<figure><img src="/files/IvkyYQVPNdhY2aPrdul4" alt=""><figcaption></figcaption></figure>

In this area, you can see all your live orders

* NFT Leverage
* Consignment
* Listing
* Offer


# App Map

Click \[Dashboard] → \[App Map] to enter this page

<figure><img src="/files/pdaA86Y0E3CGJqF1VTwM" alt=""><figcaption></figcaption></figure>

<figure><img src="/files/40QV5Q9mMSgzUGHFGIuN" alt=""><figcaption></figcaption></figure>

In this page, users can quickly see all the services that Pawnfi provides, choose preferable function, and easily land on the corresponding page.


# How to flash trade NFT (Buy)

In Pawnfi, user can exchange P-Token for NFT instantly. The exchange rate is always set as 1,000 P-Token/ per NFT.

Please see [this doc](https://docs.pawnfi.com/getting-started/understanding-pawnfi/pawnfi-modules/p-token) for more information on P-Token.

### 1. Buy -> Flash Trade

<figure><img src="/files/C2K1oBJfR6ORlTnfIdWE" alt=""><figcaption></figcaption></figure>

### 2. There are two options for purchase in Flash Trade

### 2-1. Random Mode: Get a random NFT from the pool

<figure><img src="/files/nSsLeCmLsZ6NLmLpByJl" alt=""><figcaption></figcaption></figure>

1\. Select collection

<figure><img src="/files/FxR7XBHQcl2OOQWTvljM" alt=""><figcaption></figcaption></figure>

2\. Switch to "Random" mode

<figure><img src="/files/ql0FB3I3Y5YRhG0mdHCz" alt=""><figcaption></figcaption></figure>

3\. Enter the amount of NFTs you want to get

<figure><img src="/files/LcJMZsZdGor1aE6NzZ7R" alt=""><figcaption></figcaption></figure>

4\. Confirm the P-Token amount you will need to pay

<figure><img src="/files/DLs74vspguLxHWeaaSTb" alt=""><figcaption></figcaption></figure>

There will be 0.5% service fee, which is 5 P-Token for each NFT.

5\. Approve -> Submit transaction

For the first flash trade among each collection, you will need to approve first. After approval, you can initiate on-chain transaction. Once confirmed, Flash Trade is completed.

### 2-2. Specific Mode: Get a specific NFT from the pool

1\. Switch to "Specific" mode

<figure><img src="/files/ZAHKmun6aqzoPMHHORni" alt=""><figcaption></figcaption></figure>

2\. Select desired NFT

<figure><img src="/files/el25czSG4SJlBtgFDss4" alt=""><figcaption></figcaption></figure>

<figure><img src="/files/DCsmXJrhoElGyQfC9Q0s" alt=""><figcaption></figcaption></figure>

3\. Confirm the P-Token amount you will need to pay

<figure><img src="/files/9i1XkjQ8XuEYJXeOhDP2" alt=""><figcaption></figcaption></figure>

Other than 0.5% service fee, there will be additional 1% designation fee under "Specific" mode, which is 15 P-Token for each specific NFT.

4\. Approve -> Submit transaction

For the first flash trade among each collection, you will need to approve first. After approval, you can initiate on-chain transaction. Once confirmed, Flash Trade is completed.


# How to buy an NFT from marketplace

### 1. Buy -> Shopping

<figure><img src="/files/OLeRoeOSNGAKxVKPEfOB" alt=""><figcaption></figcaption></figure>

### 2. Browse around to decide which NFT you would like to buy

<figure><img src="/files/Uz2jhAOwdVQyBPYLGWWR" alt=""><figcaption></figcaption></figure>

In the marketplace, there are several filters that can help you quickly pin down the preferred one

* Sale Price (value) range&#x20;
* Categories and collections
* Settlement Token (what you want to pay by?)

### 3. Select preferred NFT and check more details

<figure><img src="/files/HteYuMvQFWj3M03r3Y3c" alt=""><figcaption></figcaption></figure>

You will see more information about this NFT in this page. Click \[Purchase] button to initiate transaction. Once completed, you will be seeing the NFT in your wallet.


# How to make an offer

{% hint style="info" %}
Currently only support providing offer with WETH. More tokens will be supported in upcoming enhancement.
{% endhint %}

### 1. Buy -> Shopping

<figure><img src="/files/4Z6kZ0wpVZSUz86j8Tnh" alt=""><figcaption></figcaption></figure>

### 2. Browse around to decide which NFT you would like to buy

<figure><img src="/files/pXY3xitRrryVpISADM4F" alt=""><figcaption></figcaption></figure>

In the marketplace, there are several filters that can help you quickly pin down the preferred one

* Sale Price (value) range&#x20;
* Categories and collections
* Settlement Token (what you want to pay by?)

### 3. Select preferred NFT and check more details

<figure><img src="/files/4LuirqOExchmp37OH8ic" alt=""><figcaption></figcaption></figure>

### 4. Click \[Offer]

<figure><img src="/files/JvOItzsqMVF1TGYXKFk7" alt=""><figcaption></figcaption></figure>

After entering "Offered Price" and "Valid Days", click \[Confirm] and complete on-chain signature.

{% hint style="info" %}
You will need WETH to provide offer. You can click \[Exchange to WETH] to get more WETH.
{% endhint %}


# How to manage offers

### 1. My Wallet -> Offer

<figure><img src="/files/vy1lO9wPakpDUdPrqtZc" alt=""><figcaption></figcaption></figure>

### 2. You will see all your offers here

<figure><img src="/files/ZCmHCp8jKN5YkApM2VO2" alt=""><figcaption></figcaption></figure>

All the active offers will be showing here. You can select a couple of offers to do a bulk cancel.

In each offer, you will see:

* Current sale price
* Your offer
* Current highest offer
* Expiration

You can also easily filter out the offers:

* Collection: Find out specific collection
* Duplicates: If hide duplicates, it will be only showing the highest offer of NFT with same address & ID

### 3. How to cancel offer?

You can either select several offers to do a bulk cancel, or cancel each offer one by one.

<figure><img src="/files/Mz9VyrlOt6rzZRw9flG3" alt=""><figcaption></figcaption></figure>


# How to flash trade NFT (Sell)

In Pawnfi, user can exchange NFT for P-Token instantly. The exchange rate is always set as 1,000 P-Token/ per NFT.

Please see [this doc](https://docs.pawnfi.com/getting-started/understanding-pawnfi/pawnfi-modules/p-token) for more information on P-Token.

### 1. Sell -> Flash Trade

<figure><img src="/files/3yMHwD2uVp2B8Lf5AUpu" alt=""><figcaption></figcaption></figure>

### 2. Select NFT

1\. Select collection

<figure><img src="/files/86WpqPl9V7qJVb4cgAcF" alt=""><figcaption></figcaption></figure>

2\. Select NFT

<figure><img src="/files/EwTE5qh5cmRBpSB7PvRF" alt=""><figcaption></figcaption></figure>

3\. Confirm amount

<figure><img src="/files/0S1ULpDdECXySCkWenf5" alt=""><figcaption></figcaption></figure>

{% hint style="info" %}
There will be NO service fee while exchanging NFT for P-Token.
{% endhint %}

### 3. Approve -> Submit transaction

For the first flash trade among each collection, you will need to approve first. After approval, you can initiate on-chain transaction. Once confirmed, Flash Trade is completed.


# How to consign an NFT

Consigning your NFTs on Pawnfi has the following advantages:

* Upfront payment: You will get an upfront payment once the order is submitted. This will maximize capital efficiency and you don't need to low ball your listing price.
* Low service fee: Pawnfi will only charge 1% of the price difference between sale price and upfront payment as service fee.

### 1. Sell -> Consign

<figure><img src="/files/OeFcXNkHQQrgzamxvT9H" alt=""><figcaption></figcaption></figure>

### 2. Select an NFT

<figure><img src="/files/atoLDhYahTrmTYdN0mQX" alt=""><figcaption></figcaption></figure>

### 3. Select Duration and set Sale Price

<figure><img src="/files/N9CzI0SbiHEzFm1cN7G7" alt=""><figcaption></figcaption></figure>

* Duration: The real timeframe the NFT is no longer placed on marketplace.
* Grace Period: During grace period, NFT is no longer placed on marketplace. You can still retrieve your NFT once you pay back upfront payment and custody fee. NFT will be liquidated when grace period expires.
* Sale Price: Currently only P-Token is supported for settlement.

{% hint style="info" %}
Please see [this doc](https://docs.pawnfi.com/getting-started/understanding-pawnfi/pawnfi-modules/p-token) for more information on P-Token.
{% endhint %}

### 4. Confirm parameters -> Approve -> Submit transaction

<figure><img src="/files/gAh2ISUpRdkRWueveyJW" alt=""><figcaption></figcaption></figure>

Based on your days for sale (consignment duration) and interest rate, withholding custody fee will be deducted from upfront income. A portion of custody fee will be refunded if the item is sold out earlier.

{% hint style="info" %}
Custody fee = 0.274 P-Token per day (10% APR)
{% endhint %}

After confirming all the information, click \[Approve] button to approve the transaction. After approval, click \[Submit] button to initiate transaction.

### 5. How to cancel consignment?

You can access to \[Dashboard] and find \[My Records] to review the consignment status.

<figure><img src="/files/tg7mdMO9xAOzPyJHmF8Z" alt=""><figcaption></figcaption></figure>

<figure><img src="/files/BvmTR4kpOZYYiHxC77Lk" alt=""><figcaption></figcaption></figure>

In the detail page, you will be able to see all information of this order. Click \[Approve] to authorize repayment. After approval, click \[Repay] to initiate transaction. You can redeem your NFT after repaying your upfront income along with the custody fee during the period.

### 6. How to claim sale proceeds?

If someone buys your consigned NFT, sales proceeds will be directly sent to your wallet.


# How to list an NFT for sale

### 1. Sell -> Listing

<figure><img src="/files/7MSnEMdCvh4ME39GhMiG" alt=""><figcaption></figcaption></figure>

### 2. Select an NFT

<figure><img src="/files/kEDYcrhQ3oeUHyGHHwn8" alt=""><figcaption></figcaption></figure>

### 3. You can list multiple NFTs from different collections at the same time

<figure><img src="/files/u5M0DYkSR5oPVpOMv5ce" alt=""><figcaption></figcaption></figure>

### 4. Set Duration (how long you want to list) and Sale Price

<figure><img src="/files/C1dcwHDjzIEhPaFhEnSZ" alt=""><figcaption></figcaption></figure>

### 5. Approve -> Submit transaction

Please do note:

* Each collection will require separate approval for the first listing. That is, you do not need to approve your second listing for BAYC next time.&#x20;
* Each NFT will require separate signature.

After complete all the above operations, (bulk) listing successful.

### 6. How to claim sale proceeds?

If someone buys your NFT, sales proceeds will be directly sent to your wallet.


# How to manage listings

### 1. My Wallet -> Listing

<figure><img src="/files/xeT1ZRG7FiuzX80VysgQ" alt=""><figcaption></figcaption></figure>

### 2. You will see all your listings here

<figure><img src="/files/DNEodnEgySix5OnUGJ6V" alt=""><figcaption></figcaption></figure>

All the listings will be showing here. You can select a couple of offers to do a bulk cancel.

In each listing, you will see:

* Sale Price
* Offer: It will show the highest offer.&#x20;
* Expense: Service fee rate
* Estimated Income
* Expiration
* Active: The status of listing order. Platform will monitor the validity of each listing in real time. If listing is no longer active, it will be set as "No" and listing will no longer be visible in the market.

You can also easily filter out the listings:

* Collection: Find out specific collection
* Duplicates: If hide duplicates, it will be only showing the lowest listing of NFT with same address & ID
* Status: Active or inactive listings

### 3. How to delist?

You can either select several listings to do a bulk delist, or delist each listing one by one.

<figure><img src="/files/yWRp3cJPTVQ8XOaQodS1" alt=""><figcaption></figcaption></figure>

### 4. How to check and accept offers?

<figure><img src="/files/ptq2fSwyiAMEXjI9Bwj8" alt=""><figcaption></figcaption></figure>

<figure><img src="/files/d0QXpbyLsDApGm7HCFXL" alt=""><figcaption></figcaption></figure>

### 5. Why my listings are not visible in the market?

Platform will monitor the validity of each listing in real time. If the listing cannot be matched (e.g. NFT has been transferred), it will be marked as inactive and will not be displayed in the market.

If now the listing can be matched again and still before expiration, you can activate it manually and the listing will become "Active" again.


# How to leverage your NFT

In Pawnfi Protocol, every user can easily collateralize his/ her NFT and borrow out P-Token without any liquidity limit. Loan amount is always set as 1,000 P-Token/ per NFT.

Please see [this doc](https://docs.pawnfi.com/getting-started/understanding-pawnfi/pawnfi-modules/p-token) for more information on P-Token.

### 1. Loan -> Leverage

<figure><img src="/files/NOHPM94Lvri5WwaNggZT" alt=""><figcaption></figcaption></figure>

### 2. Select an NFT

<figure><img src="/files/plo0MF8I8MABGLz0XsIY" alt=""><figcaption></figcaption></figure>

### 3. Select Duration

<figure><img src="/files/KmoMbJ0OA87p1akGfw3v" alt=""><figcaption></figcaption></figure>

* Duration: Loan period
* Grace period: It is an extra repayment period. NFT will be liquidated when grace period ends.

### 4. Confirm parameters -> Approve -> Submit transaction

<figure><img src="/files/je2fbfk2Uy5pbAnNGvyR" alt=""><figcaption></figcaption></figure>

Based on your loan duration and interest rate, withholding interest will be deducted from loan amount.

{% hint style="info" %}
Interest = 0.274 P-Token per day (10% APR)
{% endhint %}

After confirming all the information, click \[Approve] button to approve the transaction. After approval, click \[Submit] button to initiate transaction.

### 5. How to repay?

You can access to \[Dashboard] and find \[My Records] to review the loan status.

<figure><img src="/files/IJdA0PY6T2CoJNsG3sDO" alt=""><figcaption></figcaption></figure>

<figure><img src="/files/iLiWW4C7U6ZPGDUu69SS" alt=""><figcaption></figcaption></figure>

In the detail page, you will be able to see all information of this order. Click \[Approve] to authorize repayment. After approval, click \[Repay] to initiate transaction. You can redeem your NFT after repaying your loan along with the interest accrued during the period.


# Lending Market - how to supply

Users can supply tokens as collaterals to borrow desired assets from Pawnfi Lending Market.

Of course, you can merely supply tokens to earn accrued interest from other borrowers.

### 1. Loan -> Lending

<figure><img src="/files/0ZN3xYeVeJ3B2P2pZysR" alt=""><figcaption></figcaption></figure>

### 2. Select the asset that you would like to supply

<figure><img src="/files/luqWNzhLL9VhI1pRlwMz" alt=""><figcaption></figcaption></figure>

### 3. Enter the amount that you would like to supply

<figure><img src="/files/OpX8FkdDBFdaGZYqUtKr" alt=""><figcaption></figcaption></figure>

You will see below information in the pop-up window

* APY
* Collateral Factor: Borrow Limit = Σ Supplied Value\*Collateral Factor
* Impact on Supply Balance and Borrow Limit Used

### 4. Approve -> Submit transaction

After confirming all the information, click \[Approve] button to approve the transaction. After approval, click \[Supply] button to initiate transaction. Once completed, you will be seeing the supplied assets under "Supplying".

<figure><img src="/files/0OgHpBAlIYq9thwzWqIA" alt=""><figcaption></figcaption></figure>

### 5. How to supply NFT?

In step 2 and step 3, if you choose to supply NFT, you will see below windows

<figure><img src="/files/PG2ErBP3t9d4q2LKBDkG" alt=""><figcaption></figcaption></figure>

<figure><img src="/files/qeFU6iyAQgfofWpppBAJ" alt=""><figcaption></figcaption></figure>

<figure><img src="/files/VTQZc2LJv4YKGeKBy3MO" alt=""><figcaption></figcaption></figure>

<figure><img src="/files/JzO6QcU5INMs2ZFuZVIW" alt=""><figcaption></figcaption></figure>

When supplying NFT, it is actually "P-Token" doing the work - Pawnfi Protocol will automatically exchange your NFT into P-Token (1 NFT= 1000 corresponding P-Token) and supply to the Lending Market. These P-Token will be showing on your account. You can use them as collateral to borrow other assets. Of course, you can freely withdraw you supplied NFT as long as you have enough amount of corresponding P-Token on your position.

<figure><img src="/files/ySwhbJLfCHZCnv975FDW" alt=""><figcaption><p>In above example, user supplied 1 BAYC and 600 P-BAYC. However, there will be 1,600 P-BAYC showing on his/ her position.</p></figcaption></figure>

{% hint style="info" %}
Please see [this doc](https://docs.pawnfi.com/getting-started/understanding-pawnfi/pawnfi-modules/p-token) for more information on P-Token.
{% endhint %}

{% hint style="info" %}

1. Selection order defines which collateral is seized in liquidation first. The smaller the number, the higher the priority for liquidation.
2. By default, the newly supplied NFT will be given a higher priority for liquidation than older one. However, you can still customize the liquidation order at your own will.
   {% endhint %}


# Lending Market - how to withdraw

### 1. Select the supplied asset that you would like to withdraw

<figure><img src="/files/OcgC6HKrHav8VQjENux0" alt=""><figcaption></figcaption></figure>

### 2. Enter the amount that you would like to withdraw&#x20;

Due to earned interest and real time price volatility, click "Max" if you want to withdraw everything.

<figure><img src="/files/cbaQgawToYCbKOJ7ANPR" alt=""><figcaption></figcaption></figure>

After confirming all the information, click \[Withdraw] button to initiate transaction. Once completed, you will see the asset in your wallet.

### 3. How to withdraw NFT

In step 2, if you want to withdraw NFT, you would need to first select corresponding P-Token and switch to "NFT" tab.

<figure><img src="/files/N5CBrbQzrDqbmDSd2Ry8" alt=""><figcaption></figcaption></figure>

<figure><img src="/files/3z9G4jkmnEnqY2p8QOVh" alt=""><figcaption></figcaption></figure>

Then select the NFT that you would like to withdraw. You will require 1,000 P-Token on your position for each withdrawn NFT. Once you have enough P-Token, you will be able to click \[Withdraw] button to initiate transaction. Once completed, you will see the NFT in your wallet.

<figure><img src="/files/7dj6V4EYZ7llQzhwiO55" alt=""><figcaption></figcaption></figure>


# Lending Market - how to borrow

### 1. Supply assets

### 2. Enable supplied asset(s) as collaterals

<figure><img src="/files/218srl4izauoaX6Xuuro" alt=""><figcaption></figcaption></figure>

<figure><img src="/files/eGVWUI7wJJXOggjWL3HJ" alt=""><figcaption></figcaption></figure>

* Each asset used as collateral increases your borrow limit.&#x20;
* Be careful, this can subject the asset to being seized in liquidation.
  * If you supplied NFT and enable as collateral, it will be P-Token instead of NFT being liquidated at first place -  P-Token will be acting as your buffer.
  * Please see [this doc](broken://spaces/ANpZvIKHgHAKDB4NMR72/pages/mRFyLUHVOA3iZmd9k8pO) for more information on Liquidation.

### 3. Select the asset that you would like to borrow

<figure><img src="/files/fhnf3wdD8ozRtMZeMpE0" alt=""><figcaption></figcaption></figure>

### 4. Enter the amount that you would like to borrow

<figure><img src="/files/4TH82tKqkoj5N6RfnI56" alt=""><figcaption></figcaption></figure>

### 5. Approve -> Submit transaction

After confirming all the information, click \[Approve] button to approve the transaction. After approval, click \[Borrow] button to initiate transaction. Once completed, you will be seeing the borrowed assets under "Borrowing".

<figure><img src="/files/3TgfCyHKDHLJzeMpXGpC" alt=""><figcaption></figcaption></figure>


# Lending Market - how to repay

### 1. Select the borrowed asset that you would like to repay

<figure><img src="/files/FMPiPoTJXankpe7Cy3If" alt=""><figcaption></figcaption></figure>

### 2. Enter the amount that you would like to repay

Due to accrued interest and real time price volatility, click "Max" if you want to repay everything.

<figure><img src="/files/VkBuk8Snity0mmkTFAmC" alt=""><figcaption></figcaption></figure>

### 4. Approve -> Submit transaction

After confirming all the information, click \[Approve] button to approve the transaction. After approval, click \[Repay] button to initiate transaction. Once completed, repay successful.


# FAQs on Lending Market

### Q: Why the token is enabled as collateral while I didn't switch on \[Collateral] button?

A: That is because you might be supplying and borrowing the same token (that's say "DAI") at the same time. It should be a corner case but it is definitely possible. In this case, DAI will automatically stay in \[Collateral] mode, and this can NOT be changed until you repay all the borrowed DAI.

### Q: Why I can't withdraw all the supplied assets?

A: There are two possibilities.

* When withdraw your supplied assets, your Borrow Limit Used would exceed 100%, which will lead to liquidation, thus your supplied assets can't be 100% withdrawn for now.
* Lack of liquidity due to too much borrowing at this current moment. As liquidity recovers, you'll be able to withdraw your supplied assets.

### Q: Why I cannot withdraw my P-Token when it's showing that I have available P-Token balance?

A: If you supplied NFT on Pawnfi Lending Market, your P-Token will be prioritized for withdrawing your NFT.&#x20;

{% hint style="info" %}
Withdrawable P-Token amount = P-Token position - Supplied NFT amount\*1000
{% endhint %}

That is, if you supplied 2 BAYCs and there are currently 2,500 P-BAYC on your position, the maximum withdrawn of P-BAYC amount will be 500. However, your P-BAYC position is still possible to drop to less than 2,000 if liquidation happens. So, if now your P-BAYC position becomes 1,800, you will not be able to withdraw any P-BAYC.


# How to invite others

There are two methods to invite friends. Begin by clicking on \[Event]→\[Mega Drop] in the navigation bar and switch to the \[Invites] tab.

<figure><img src="/files/3Vu9zV3OauQjPAwUFsU1" alt=""><figcaption></figcaption></figure>

<figure><img src="/files/4Fvpwn4A1Kw73WvghQEf" alt=""><figcaption></figcaption></figure>

## Method One:

Copy your invitation link and send it to your friend. When your friend opens the link and accepts the invitation, they will be bound to you as their inviter.

<figure><img src="/files/4HuEToz76tWiogfLuTJ6" alt=""><figcaption></figcaption></figure>

## Method Two:

Copy your invitation code and send it to your friend. Your friend can enter the code on the product page to bind the invitation.

<figure><img src="/files/onNeTpUZy3tp97sQUsZc" alt=""><figcaption></figcaption></figure>

Please note that each user has a limited number of invitations. Therefore, if the binding fails, it could be due to a lack of available invitation slots. You can check the remaining number of available invitations on the page.

<figure><img src="/files/NH4BHlZfIP7xTiV9k8IF" alt=""><figcaption></figcaption></figure>


# How to connect to inviter

## Method One:

If you're accessing during the Early Access period, due to the whitelist mechanism, you'll need to connect with an inviter to gain entry. Thus, when you open the product page, you'll be asked to enter an invitation code. By entering someone else's invitation code, you can successfully bind this user as your inviter.

<figure><img src="/files/oI3HYjruGW8N1E5F3FaE" alt=""><figcaption></figcaption></figure>

## Method Two:

1. Click on \[Event] → \[Mega Drop] in the navigation bar.

<figure><img src="/files/YOIG17WlMPFFtDeyc0Fo" alt=""><figcaption></figcaption></figure>

2. Switch to the \[Invites] section.

<figure><img src="/files/WSv9OZo32JpfcmiCflTQ" alt=""><figcaption></figcaption></figure>

3. Input the wallet address of the person you wish to bind in the space provided, then click on \[Connect]. This will successfully bind the address. Please note, as each person has a limited number of invitations, if the binding process fails, it may be due to insufficient invitation slots.

<figure><img src="/files/dr8JayTp1KfCOTwqQIKU" alt=""><figcaption></figcaption></figure>

Please be aware that each user has a limited number of invitation allocations. Therefore, if the binding process fails, it could be due to a shortage of available invite slots.


# Basic Rule

Liquidity boosting is a liquidity incentive event designed to enhance P-Token liquidity on Uniswap, allowing participants to commit unilateral or bilateral liquidity through Pawnfi's proxy contract and become Uniswap LPs.

To join liquidity boosting, commit ETH, P-Token, or both to the appropriate pool. Each pool has distinct parameters for you to choose from, including:

* **Underlying Tokens**: P-Token (e.g., P-BAYC) and ETH
* **Target Amount**: Total liquidity sought on each side
* **Price Range**: Uniswap V3 price range that the pool will supply liquidity for
* **Raising Duration**: Timeframe for users to contribute to the pool
* **Boosting Period**: Duration the pool will commit liquidity to Uniswap
* **vAPY**: Expected return calculated solely from $PAWN token rewards, excluding swap fees and bonuses

Suppose the target isn't reached before the deadline. In that case, the pool will be canceled, and participants must visit the "Cancelled" page to reclaim their tokens. However, if the target is met, the proxy contract will provide liquidity on Uniswap V3 for market-making. In addition, a price range will be established in Uniswap V3 to optimize capital efficiency, given NFT's nature.

Upon the boosting period's conclusion, participants can claim four types of tokens and rewards:

* **$PAWN token rewards**
* **Committed liquidity's final position**: The final amount may differ from the initial commitment due to AMM pool price change. You can refer to this [article](https://medium.com/coinmonks/uniswap-v3-explained-57e0cdf86719) for detailed explanation on Unsiwap Mechanism.
* **Swap fees**: Uniswap v3 pool-generated trading fees will be evenly distributed among participants.
* **Bonus**: Changes in P-Token prices during the raising period may impact the liquidity needed on Uniswap v3. Pawnfi will optimize capital efficiency and rewards so that any unused liquidity will be supplied in the Pawnfi lending market, with the resulting income distributed as a "Bonus."

<figure><img src="/files/QpoT7E7HMBjVedVrmiuu" alt=""><figcaption></figcaption></figure>

Please note:

* Liquidity boosting operates on a **first-come, first-served basis**.
* Once you committed your liquidity in the boosting pool, you will not able to claim back the committed liquidity until
  * The event is cancelled as the raising is not completed before raising duration
  * The event is cancelled due to market volatility or NFT price fluctuation
  * Boosting period ends if the liquidity boosting kicks start.
* The Pawnfi team reserves the right to cancel or delay a boosting pool due to market volatility or NFT price fluctuations, even after the raising is completed. Participants must visit the "**Cancelled**" page to reclaim tokens if a pool is cancelled.
* $PAWN rewards are temporarily unclaimable but can be tracked in your account and claimed later. Pawnfi will announce when $PAWN withdrawals become available.


# How to commit liquidity

### 1. Click on \[Yield] → \[Liquidity Boosting] in the navigation bar.

<figure><img src="/files/8IKbZsJL2yEaIjBwaqCD" alt=""><figcaption></figcaption></figure>

### 2. Access to \[Raising] tab and click on the event pool you would like to participate

<figure><img src="/files/n5zLpVvCA5rpX6CgkEKM" alt=""><figcaption></figcaption></figure>

### 3. Select the token you wish to commit liquidity

<figure><img src="/files/BWgjmFD9OPLSvGSjm2mL" alt=""><figcaption></figcaption></figure>

<figure><img src="/files/ysJd5mz4t7ZwKZqsedF0" alt=""><figcaption></figcaption></figure>

### 4. Insert the amount that you would like to commit, then click \[Add] button&#x20;

<figure><img src="/files/liZ0tUAP6CWqRIHhGtLy" alt=""><figcaption></figcaption></figure>

### 5. After authorizing, click the \[Confirm] button and confirm the transaction in the wallet pop-up window.&#x20;

<figure><img src="/files/aEsw0paUEzDu59cTToSF" alt=""><figcaption></figcaption></figure>


# How to claim liquidity and reward

### 1. Click on \[Yield] → \[Liquidity Boosting] in the navigation bar.

<figure><img src="/files/8IKbZsJL2yEaIjBwaqCD" alt=""><figcaption></figcaption></figure>

### 2. Access to \[Finished] or \[Cancelled] tab and click on the event pool you would like to claim the liquidity and rewards from

* If the event is successfully kicked off, you can check the position change in \[In Progress] tab
  * After the boosting ends, access to \[Finished] tab to claim liquidity and rewards
* If the event is cancelled, access to \[Cancelled] tab to claim back committed liquidity

<figure><img src="/files/RZ97Xa9RBLjNfbp6ondR" alt=""><figcaption></figcaption></figure>

### 3. Click \[Claim] button to claim your final positions

<figure><img src="/files/TjBvUP6mOCHYtRRQv0HH" alt=""><figcaption></figcaption></figure>

### 4. Wait for the on-chain transaction to succeed, and the withdrawal is successful.

### 5. $PAWN rewards are temporarily unclaimable but can be tracked in your account and claimed later. Pawnfi will announce when $PAWN withdrawals become available.


# How to stake $APE

### 1. Click on \[Ape Staking] → \[$Ape Pool] in the navigation bar.

<figure><img src="/files/4k74mTKQ3XdaH3KR74IV" alt=""><figcaption></figcaption></figure>

### 2. Press the \[Stake] button.

<figure><img src="/files/6MggdjyXj5QENy2drwN7" alt=""><figcaption></figcaption></figure>

### 3. Input the quantity you wish to stake and click the \[Confirm] button.

<figure><img src="/files/Lj0ADaURLYrLLgQfq7Wc" alt=""><figcaption></figcaption></figure>

### 4.After authorizing, click the \[Confirm] button and confirm the transaction in the wallet pop-up window.

<figure><img src="/files/Lax2UMcRPSbWVzL5zECu" alt=""><figcaption></figcaption></figure>

### 5. Wait for the on-chain transaction to complete, and your stake will be successfully placed.

<figure><img src="/files/WAleblpE1EFb4rkcAB69" alt=""><figcaption></figcaption></figure>


# How to withdraw $APE

### 1. Navigate to \[Ape Staking] → \[$Ape Pool] via the navigation bar.

<figure><img src="/files/P1Qc78btCBjNV26iIDA2" alt=""><figcaption></figcaption></figure>

### 2. Click on the \[Withdraw] button.&#x20;

<figure><img src="/files/582sxiY7sQRBvwspypbv" alt=""><figcaption></figcaption></figure>

Note: The official Ape rewards are distributed every hour. Withdrawing in advance will result in the loss of these rewards. You can verify the time of reward distribution via the countdown on the page.

### 3. Enter the amount you wish to withdraw. If you want to withdraw all, you need to click the \[Max] button. Once set, click the \[Confirm] button to initiate the transaction.

<figure><img src="/files/fVAgfnlxpYwRqAA7Kw6y" alt=""><figcaption></figcaption></figure>

### 4. Wait for the on-chain transaction to succeed, and the withdrawal is successful.

<figure><img src="/files/q36FvvOGLZArMBJjTPke" alt=""><figcaption></figcaption></figure>


# How to stake NFT

### 1. Click on \[Ape Staking] → \[NFT Pool] in the navigation bar.

<figure><img src="/files/oWkqdoNJCossPR4iT1bG" alt=""><figcaption></figcaption></figure>

### 2. In 'My NFT' list, find the NFT you want to stake and click on \[Stake].&#x20;

<figure><img src="/files/L0sdHy5W4543OOsSLFF5" alt=""><figcaption></figcaption></figure>

* If your NFT is already in Pawnfi Lending Market, Consign, or Leverage, you can still select them for Ape Staking; when your NFT is sold or retrieved, Pawnfi will automatically pause Ape Staking for you and transfer the deposited principal and rewards to you.
* If you choose to provide an NFT from your own wallet, you can additionally earn Supply returns of the corresponding P-Token from Pawnfi Lending Market.

### 3. Determine the quantity of $APE you wish to stake.

<figure><img src="/files/HYHpK6wjFsBcewCKMahO" alt=""><figcaption></figcaption></figure>

You have the option to utilize your own $APE or borrow from the $APE Pool. If you opt for borrowing from the $APE Pool, you'll be obligated to pay interest based on the borrowing rate. The projected returns for each combination can be confirmed within the user interface. **Importantly, borrowing $APE is collateral-free, implying that if you're presently engaged with the lending market, this action will not increase your utilized borrowing limit.**

### 4. If the chosen staked NFT is a BAKC, you need to select a paired NFT. The NFT can be any unpaired ID from BAYC or MAYC, and the ID or rarity does not affect your staking rewards.

<figure><img src="/files/6XK6N16skEZVeIwWtN0l" alt=""><figcaption></figcaption></figure>

### 5. After confirming the number of Apes to stake, initiate a chain transaction.

<figure><img src="/files/QzhofK3kbo0VIWcPoM47" alt=""><figcaption></figcaption></figure>

### 6. Wait for the chain transaction to succeed, and then you can start Ape Staking mining. You can view the current mining situation in the 'My NFT' list.

<figure><img src="/files/HXnkpIGZwA9hEIJpe6DU" alt=""><figcaption></figcaption></figure>


# How to claim staking rewards for NFT

### 1. Click on \[Ape Staking] → \[NFT Pool] in the navigation bar.

<figure><img src="/files/XBO8VIWdxeP8Xym0HwQu" alt=""><figcaption></figcaption></figure>

### 2. In the My NFT list, find the NFT for which you want to claim rewards and click \[Claim].

<figure><img src="/files/0ob3CcGQnftkojakItR6" alt=""><figcaption></figcaption></figure>

* Note: Official NFT staking rewards are distributed every hour. Claiming in advance will result in a loss of these rewards. You can confirm the reward distribution time by the countdown on the page.

### 3. Initiate an on-chain transaction. Once the transaction is successful, the rewards are successfully claimed.

* Note 1: If you are currently borrowing $APE, the reward will be used for repayment first.
* Note 2: If there is no debt, the claimed rewards will be transferred according to the reinvestment strategy.
  * If there is an Auto Compound open, claimed rewards will be supplied to $APE
  * If there is no Auto Compound open, claimed rewards will be transferred to your wallet.


# How to set Auto Compound

### 1. Click on \[Ape Staking] → \[NFT Pool] in the navigation bar.

<figure><img src="/files/RP0oachb7kKyCnuqBnoK" alt=""><figcaption></figcaption></figure>

### 2. On the right side of My NFT, find the settings button.

<figure><img src="/files/Iil2NBw4ZdRWouqB4nY6" alt=""><figcaption></figcaption></figure>

### 3. Depending on your investment style, toggle the reinvestment switch.

* Repayment takes priority for rewards and withdrawals, and this cannot be modified.
* By default, Auto Compound is enabled, which means that $APE rewards are automatically reinvested into the Pawnfi $APE Pool to help maximize your mining earnings. If you disable this feature, $APE will be transferred to your wallet each time you claim rewards or make a withdrawal.

<figure><img src="/files/du8gpeU7V6rYctcaZrW5" alt=""><figcaption></figcaption></figure>


# How to terminate NFT staking and withdraw NFT

### 1. Click on \[Ape Staking] → \[NFT Pool] in the navigation bar.

<figure><img src="/files/o0jV7ajVCPz1wFNheoT1" alt=""><figcaption></figcaption></figure>

### 2. In the My NFT list, find the NFT that you wish to terminate staking, and click on \[Withdraw].

<figure><img src="/files/0toVCzajgrG2aqQVkOUC" alt=""><figcaption></figcaption></figure>

### 3. Click on the \[Max] button, and after confirming, click on the \[Confirm] button.

<figure><img src="/files/A2C4ptUWCtKIEFU4vj6j" alt=""><figcaption></figcaption></figure>

### 4. You will need to initiate two transactions.

* The first transaction: This is to terminate staking and retrieve your deposit principal and rewards.
* The second transaction: This is to retrieve the staked NFT. If your NFT is currently in Lending, Consign, or Leverage, this step is unnecessary, and you can retrieve the NFT through the corresponding withdrawal/redeem page.


# FAQs on Ape Staking

### General

#### Q: If my NFT is sold or liquidated while committed to an NFT pool, will I lose all my staked $APE?

A: No, you will not lose your staked $APE. The Pawnfi ApeStaking contract safeguards your assets during NFT ownership changes. If your NFT is purchased, the staked $APE (including reinvested amounts) and unclaimed rewards will first repay any outstanding $APE loan from initiating Ape Staking. The remaining balance is then transferred to your wallet. In the case of liquidation, unclaimed rewards will be taken as penalty and used to cover the gas fee costs on the Auto Compound Bot.

#### **Q:** If my NFT is sold or liquidated while committed to a paired NFT pool, will I lose all my staked $APE?

A: No, you won't lose your staked $APE. Please refer to the previous question for more details on how the ApeStaking contract safeguards your assets during NFT ownership changes.

#### Q: My MAYC/BAYC is staking, can I also stake in pair with BAKC?

A: Of course, you can. Whether you first stake with BAYC/MAYC and then pair it with BAKC, or vice versa, you can perform pair staking operations. (Of course extra $APE is required)

#### Q: My NFT is in Pawnfi Lending/Consign/Leverage, can I still perform Ape Staking?

A: Yes, you can. You can perform these two operations at the same time without worrying about any loss to your staked NFT or $APE. (When you withdraw NFT from Lending, sell or redeem from Consign, or redeem from Leverage, Pawnfi will automatically terminate staking for you, and transfer the staked $APE and unclaimed rewards according to your reinvestment strategy)

#### Q: My NFT is in Pawnfi Lending/Consign/Leverage, but was accidentally liquidated, will there be a loss to my deposit principal?

A: No, there won't be any loss. In such a situation, even though your NFT has been liquidated, Pawnfi will still assist you to terminate the staking and retrieve your deposit principal. However, any unclaimed rewards will be taken as penalty and used to cover the gas fee costs on the Auto Compound Bot.

#### Q: Why didn't I receive $APE in my wallet after I claimed NFT staking rewards/withdrawn NFT staked APE?

A: There may be two reasons:&#x20;

1. You have unpaid debts, your rewards and withdrawals will be prioritized for repayment;&#x20;
2. You have enabled auto-compound, your rewards and withdrawals will be reinvested in Pawnfi  $APE Pool for maximizing returns. If you need to withdraw, you can go to Ape Staking-$APE Pool to operate.

#### Q: If the current staking return continues to decrease and is lower than my $APE loan interest, will I continuously lose money in staking?

A: To avoid this situation, our bot will periodically scan the account situation. If it finds this possibility, it will automatically terminate staking for you to prevent losses.

#### Q: Why does an error message pop up preventing me from staking when I borrow $APE for NFT staking?

A: If the current staking return is lower than the loan interest, borrowing for staking will only reduce your staking income, thus staking is prevented.

#### Q: I am already staking in the official pool, do I need to pause staking first, then come to Pawnfi for staking ?

A: No, you just need to initiate staking normally on Pawnfi, which can seamlessly migrate.

### Service Fee

#### Q: Are there any fees associated with using Pawnfi's Ape Staking service?

A: Each time a reinvestment is triggered (reinvesting unclaimed rewards into the Pawnfi $APE Pool), a 1.5% Reinvestment Reserve fee is applied to cover the gas costs associated with the auto-compounding process.

### Gas Cost

#### Q: Who covers the gas fees for the reinvestment process?

A: Users are responsible for covering gas fees when staking and withdrawing from Pawnfi Ape Staking. However, the regular auto-compounding gas fees are taken care of by the Pawnfi Treasury, ensuring a seamless experience for users without the need to worry about these additional costs.


# How to place $PAWN in SAFE?

Place $PAWN in Pawnfi Secure Asset for Ecosystem (SAFE) for Voting Power and safety incentives.

### 1. Yield -> Pawnfi SAFE

<figure><img src="/files/5L3JmDytYTZ4EPoD4ZdZ" alt=""><figcaption></figcaption></figure>

### 2. Parameters

<figure><img src="/files/0tNEt278duNi8Sbu1e8v" alt=""><figcaption></figcaption></figure>

You will see:

* Placing Amount ($PAWN): Amount of $PAWN you would like to place in SAFE
* Placing Time: How long you would like to place those $PAWN in Pawnfi SAFE. Placing time is designed at weekly basis, and during placing time, those $PAWN cannot be withdrawn until the expiration date. The maximum time will be **52 weeks**.
* Voting Power: You will get Voting Power by placing $PAWN. Voting Power = Amount ($PAWN) x Placing Time in weeks
  * Ex. 1,000 $PAWN placed for 1 year = 52,000 Voting Power&#x20;
* Voting Power decay rate: Voting Power will decrease at weekly basis, which means it will decrease by placing amount every week.

{% hint style="info" %}
Voting Power among all users will decrease on Thursday at 00:00:00 UTC, which is the breaking point.&#x20;

That is, no matter you place your token on Week 2 Friday or Week 3 Wednesday, your Voting Power will decrease on Week 3 Thursday at 00:00:00 UTC.
{% endhint %}

### 3. Approve -> Submit transaction

After all the parameters are set, first click "Approve" to authorize. After approval, click "Place" to initiate on-chain transaction. Once completed, $PAWN are placed successfully. You will be able to see expiration in SAFE Schedule.

<figure><img src="/files/ndqO3wlXuhGEZoqkrZZE" alt=""><figcaption></figcaption></figure>


# How to displace $PAWN?

### 1. Wait until Expiration

<figure><img src="/files/sFRHmWRWy8vt7kzfxjke" alt=""><figcaption></figcaption></figure>

Via the schedule, you can see placed amount and corresponding expiration.

{% hint style="info" %}
Following the Voting Power decay schedule, Placing Time will all end on Thursday at 00:00:00 UTC, which is the breaking point.&#x20;

Placed $PAWN with the same Expiration will be aggregated on the same row.
{% endhint %}

### 2. Initiate Exit Stream

<figure><img src="/files/drCo7uIRKbDk0V8hlR4X" alt=""><figcaption></figcaption></figure>

After expiration, $PAWN tokens that are no longer placed but still in the contract will be displaying under "Streamable". Click "Stream" to initiate an exit stream. Afterwards, "Streaming" will be showing the $PAWN amount that is in streaming process.&#x20;

<figure><img src="/files/JwreV228A0jor1mUAqfn" alt=""><figcaption></figcaption></figure>

{% hint style="info" %}
When initiate an exit stream, if there are still $PAWN in Claimable (tokens that have streamed out), those $PAWN will be rolled back to streaming process.
{% endhint %}

### 3. Claim

<figure><img src="/files/PJkSKcODzUFHnKQ6qjrm" alt=""><figcaption></figcaption></figure>

It will take 7 days for streaming process to complete. However, $PAWN will be released to "Claimable" every second. That is, for each second, "Streaming" area would decrease by X and "Claimable" area would increase by X.

Click "Claim" button to claim all the claimable $PAWN.


# How to extend placing time?

You can extend the placing time up to 52 weeks before expiration to restore your voting power.

### 1. Access to SAFE Schedule

### 2. Click "Extend" and set extension time

<figure><img src="/files/peT3wlAb2bfSAT1NcPTP" alt=""><figcaption></figcaption></figure>

<figure><img src="/files/5PXshdoxu49SWmxqUuii" alt=""><figcaption></figcaption></figure>

### 3. Extend -> Submit transaction

After all the parameters are set, click "Extend" to initiate on-chain transaction. Once completed, $PAWN are placed successfully. You will be able to see a new expiration in SAFE Schedule and your increased Voting Power in "My Voting Power".

<figure><img src="/files/kH63mLttUURtbgtVkKJb" alt=""><figcaption></figcaption></figure>


# How to share safety incentives?

### 1. Place $PAWN in Pawnfi SAFE to get Voting Power

### 2. Wait for safety incentives

Weekly protocol income will be accrued every second in next week. It will be distributed across all Voting Power holders based on the Voting Power %.

### 3. Claim

<figure><img src="/files/zfcU6k93duTk4KKa46YR" alt=""><figcaption></figcaption></figure>

You can either claim specific token (protocol income will be in different token format due to wide range of business) or click "Claim All" to claim all the rewards at once.


# Basic Rule

Liquidity Incentives will be open in near future.

There are actually two kinds of Liquidity Mining incentives that Pawnfi designed to reward ecosystem contributors but at the same time encourage long-term growth with us - Passive Mining and Active Mining.&#x20;

<figure><img src="/files/UHymG0nXnlWzxm7TFq71" alt=""><figcaption></figcaption></figure>

## Borrow Distribution (Passive Liquidity Incentives)

Every Pawnfi user accrues $PAWN for each block they are supplying to or borrowing from the pool-based liquidity pool. The "PAWN speed" unique to each lending market is a factor that specifies the amount of $PAWN that is distributed, per block, to suppliers and borrowers in each market. This number might be changed for individual markets based on the market condition or through a successful Pawnfi Governance proposal.

Note that not every market has $PAWN distributed to its participants.

## Liquidity Mining (Active Liquidity Incentives)

It is a governmental process to leave iToken holders compete for $PAWN token reward. By staking iToken to specific gauge and perform [Gauge Voting](https://docs.pawnfi.com/pawn-token/voting-power/gauge-voting) with voting power, each lending pool has a chance to win all the weekly active reward.

Note that participants will need to stake his/ her iToken in the gauge (each lending pool will have its corresponding gauge) to earn active mining reward. Also it is not guaranteed that every gauge will be distributed with active reward - while the total amount is based on the market condition or through a successful Pawnfi Governance proposal, the distribution is based on the result of weekly gauge voting. That is, with 0 voting, a gauge with the most liquidity may still be earning 0 $PAWN!

{% hint style="info" %}
Each cycle begins on Thursday at 00:00:00 UTC and ends on the following Wednesday at 23:59:59 UTC.
{% endhint %}


# How to stake liquidity for active incentives

### 1. Click \[Stake] button

<figure><img src="/files/eeFTB86BlJRpYJiRbFy5" alt=""><figcaption></figcaption></figure>

### 2. Enter iToken amount

<figure><img src="/files/AdkPYweOVSJzK3HsxVvG" alt=""><figcaption></figcaption></figure>

You will need to have iToken to stake liquidity. When you supply assets in Lending Market, you will receive corresponding iToken.

{% hint style="info" %}
Staking iToken will lower borrow limit, increasing borrow limit used. Please control your own risk. To prevent careless staking and unexpected liquidation, available staking amount (Max) will be lower than wallet balance.
{% endhint %}

{% hint style="info" %}
If you receive iToken by supplying NFTs, iToken will be prioritized for NFT withdrawal. That is, available staking amount (Max) will be lowered accordingly.
{% endhint %}

### 3. Approve -> Submit transaction

Click \[Approve] button in the pop-up window. After approval, click \[confirm] to initiate on-chain transaction. Once transaction is confirmed, liquidity is staked successfully. You can check your staked liquidity in the table.

<figure><img src="/files/jKgCnYy1nLaXhzk73Mg6" alt=""><figcaption></figcaption></figure>


# How to unstake liquidity

### 1. Click \[Unstake] button

<figure><img src="/files/1PZ6xCqwtPUUIEv3q688" alt=""><figcaption></figcaption></figure>

### 2. Enter iToken amount

<figure><img src="/files/6FZIWXqErVGU2g34fqNb" alt=""><figcaption></figcaption></figure>

### 3. Submit transaction

Once confirmed, please wait for the on-chain transaction to complete. Once on-chain transaction is confirmed, liquidity is unstaked successfully.

{% hint style="info" %}
When you unstake liquidity from any of the lending pools, mining rewards (if there is any) will also be sent to your wallet.
{% endhint %}


# How to vote?

### 1. Yield -> Liquidity Mining

<figure><img src="/files/EuL4sCeCIyMjMhSvCRf1" alt=""><figcaption></figcaption></figure>

### 2. Vote

<figure><img src="/files/xLVEWc6WpM3c9k2G8htz" alt=""><figcaption></figcaption></figure>

Clicking \[Vote] on the vote table for the lending pool they wish to support (normally the lending pool that they participate), filling in the amount they wish to vote and then clicking the \[Confirm] button.&#x20;

{% hint style="info" %}
Current Voting Power will be your available votes. Votes are reset to zero each week and the voting cycle starts again.
{% endhint %}

{% hint style="info" %}
Please keep in mind your votes cannot be cancelled.
{% endhint %}

### Who can perform gauge voting?

Anybody who has Voting Power can vote to direct its voting power towards one or multiple lending pools.


# How to claim liquidity incentives

## Claim Liquidity Mining

Navigate to \[Yield] → \[Liquidity Mining] via the navigation bar.

### Method I. Click \[Claim] to get all your mining rewards

<figure><img src="/files/Tjhk44iyuBm5IQ1IAyW6" alt=""><figcaption></figcaption></figure>

### Method II. Unstake Liquidity

When you unstake liquidity from any of the lending pools, mining rewards will also be sent to your wallet.

<figure><img src="/files/DGXroBkXMgv4mOzvXNvr" alt=""><figcaption></figcaption></figure>

## Claim Borrow Distribution

Navigate to \[Loan] → \[Lending] via the navigation bar.

### Click the icon to get all your liquidity incentives

<figure><img src="/files/V4aLAKsyo5HHKwCHDO7a" alt=""><figcaption></figcaption></figure>


# How to boost rewards

One of the main incentive for PAWN is the ability to boost your rewards on contributed liquidity. Vote locking PAWN allows you not only to acquire voting power to participate in the DAO, but also to earn a boost of up to 2.5x on the liquidity you are contributing to Pawnfi.

Each pool will have its own boost factor

{% hint style="info" %}
Boost = Min((0.4 x Contributed Liquidity) + Total Gauge Liquidity x Voting Power/Total Voting Power x 0.6), Contributed Liquidity)/ Contributed Liquidity
{% endhint %}

From this formula, you can see that you will have a higher boost by locking more and longer PAWN token.

## Applying your boost

If you see your new boost after current boost: then you do not need to do anything else.

If your current boost hasn't moved, you will need to claim PAWN from each of the gauge you have staked iToken in to update your boost. After doing so, your boost should be showing.

{% hint style="info" %}
Your boost will not be updated until you perform an operation on a gauge.
{% endhint %}