đī¸NFT Listings / Max Leverage
People are sneaky! We are ready to ensure people do not exploit our platform.
To combat possible abuse, we are implementing measures to limit the loan amount for NFT listings that have a high FP spread. In essence, if you wish to purchase a rare high-value NFT, you will need to pay a higher amount upfront. We calculate the minimum percentage amount required for purchasing an NFT using a formula that takes into account the FP, NFT price, and a coefficient of 1.11, which is the highest interest rate and ensures the security of the platform.
For instance, let's take an example where an NFT is priced at 13.53 SOL and has an FP of 2.51 SOL. In this scenario, the minimum percentage amount required for purchase would be calculated as follows:
This indicates that to purchase the NFT on our platform, you would need to pay at least 83.29% of the NFT price upfront.
We believe that these measures will significantly reduce the risk of abuse and fraud on our platform, while also providing our users with greater security and peace of mind. At Robox, we remain committed to creating a platform where everyone can participate in the exciting world of NFTs with confidence and trust.
One form of abuse that we take particularly seriously is when sellers attempt to manipulate the platform by listing their own NFTs at an inflated price and then using the platform's leverage and liquidity to buy them back themselves. By defaulting on the loan and giving away the NFT, the seller is left with our borrowed SOL, which can result in significant financial loss for our platform and our users.
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