Borrowing
How to register?
Borrowers must register on our platform with email and connect with supported wallet, such as metamask. Email will be used to receive game login credentials and wallet will be used to receive token rewards.
How to borrow game assets?
Borrowers can choose game assets from our marketplace to borrow. Borrowers can return assets at any time.
A Borrower may return the asset before the maximum borrow period or at the end of the borrow period, our worker bot will identify and return any assets whose borrow period has already expired.
When borrowing game assets on the platform, borrowers can see all the details about the assets and the corresponding terms for borrowing. Scholar must stake required amount of Rent Tokens before borrowing the assets. Scholars with different Metaverse Achievement Score(MVA® Score) pay a different multiplier of required staking amount. The higher MVA score, the less multiplier a scholar needs to pay.
Initializing a renting process:
Choose game assets
Stake Rent Token
Targeted earning in SLP will be converted to USDT based on current SLP price
Staked Rent Token value in USDT is equivalent to targeted earning
Borrower staked amount = MVA® Score ratio * Staked Rent Token
Pay gas fee and platform fee in Rent Token
Borrower needs to cover gas fee in the network in order to transfer game assets to the specific address
Borrower also needs to pay a platform fee = 5% target earning
platform fee will be paid in Rent Token and will be burned
Receive Game Account with game assets in it
When returning the game assets，if the targeted earning is not reached, the difference between staked amount and targeted amount will be deducted and swap to SLP from DEX and transferred to the lender as a compensation. If the staked amount is not enough to cover all the difference(due to Rent Token price changes), all the staked amount will be given to the lender.
Profit sharing
Borrowers agreed to share a percentage of their in-game rewards with the lenders. Our protocol will take 10% as service fees which will be deposited into our treasury.
Game account management
An fixed amount of game accounts and corresponding wallet addresses are pre-created. The wallet addresses are whitelisted by our protocol and governed by Rentero DAO. Later, when whitelisted addresses and game accounts are not enough for users to borrow from, community members or core team can propose to generate more wallet addresses to be whitelisted.
Account info is stored by our Oracle Engine to track account owner, status(in use / idle), game assets, ttl.
Worker bot will periodically scan through oracle engine, and perform operations such as returning game assets, updating account information.
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