XBroker

Product Description

Users can first go to the Mystery Box page to purchase a box or exchange one with a mystery box purchased on Galaxy. Upon obtaining the XCarnival Genesis NFTs, users can pledge the tokens on XBroker for loans or pledge a certain amount of stablecoins to mint USDxc on Megabox. The USDxc can then be paired with borrowers and loaned out through XBroker, while the lenders can receive the corresponding funds or assets after redemption or liquidation. In addition, users can also liquidate their preferred NFTs with USDxc in XBroker’s liquidation marketplace. Mining will start automatically as NFTs are pledged, while the mining rewards are calculated based on the order’s specification and can be viewed on the Mining page.

XBroker Explained

XBroker is a platform for lending and borrowing NFTs, providing liquidit y for the NFT market. There are three types of XBroker users: borrowers, lenders, and liquidators. Borrowers pledge their NFTs to borrow tokens, while lenders earn interest by lending USDxc. Liquidators participate in the liquidation through auctions and obtain NFTs at hammer price.

User Guide for the Closed Beta Tes

1.How to complete a “Pledge -> Borrow -> Redeem” process as a borrower:

a. Select “XBroker” -> “Borrow” -> “My Wallet” to find the NFTs that can be use d as collateral.

b. Enter the loan amount, time, expected annualized rate of return (APR), or total amount of interest paid, and click “Pledge” t o authorize the wallet to display the number of NFTs while waiting for interested lenders to complete the transaction.

c. Go through any of the three paths (i.e., “XBroker” -> “Collateral” -> “Market,” “XBroker” -> “Lend” -> “Collateral,” or “XBroker” -> “Borrow” -> “Listed” to check out the ongoing NFT order. Click on the order for detailed information.

d. After the lenders have made their offers, click on the order page to see the specific offers; click “Accept” to obtain the preferred offer and pledge NFTs.

e. When the loan term is about to expire, click “Redeem” on the order page to access the wallet and pay the lender the principal and interest and redeem the NFTs.

In the case of delayed repayment, the NFTs will be liquidated, and the borrowers will no longer own the NFTs. Click “XBroker” -> “Borrow” -> “Loan” -> “Liquidated” to check the order details

2.How to complete a process of “Make Offer” -> “Lend” -> “Withdraw Principal and Interest/Collect NFTs” as a lender:

a. Find the ongoing NFT order, and click “Lend” on the order page to lend tokens according to the borrower’s set price.

Prospective lenders can also click “Make Offer” to customize the principal and interest rate of the loan. Note that the loan term is not customizable. Lenders can only make one offer on any given order. The offer price can be modified after canceling the original offer.

b. When the repayment date is approaching, the lender will automatically receive the principal and interest upon repayment by the borrower.

c. If the lender fails to pay the principal and interest in time, the NFTs will be available for liquidation.One can click “XBroker” -> “Lend” -> “Loan” -> “Liquidate” to check the specific order or initiate the liquidation process as the lender.

<3> How to complete the process of "Bid" ->"liquidated" ->"collect NFTs" as a liquidator :

a. Find the liquidated NFT order by clicking “XBroker” -> “Liquidated” -> “Collateral,” mega click “Bid” on the order page and enter the bid price.

b.At the end of the bidding, the order will be liquidated based on the highest bidding price. The order will be closed automatically after the lender clicks “Withdraw Funds and Interest” or the liquidator clicks “Collect NFTs.” Uncollected NFTs can be viewed in “XBroker” -> “Liquidate” -> “Purchased.”