Loan Policy

Last Updated: [2023.12.20]

Welcome to the CyberPetaCraft Borrowing Policy. This policy outlines the terms and conditions for users looking to borrow CyberPetaCoin (PETA) by collateralizing Binance Coin (BNB) tokens. Please carefully read and understand the following before participating in the borrowing process.

Eligibility: To be eligible for borrowing PETA by collateralizing BNB, users must meet the following criteria:

• Possession of a verified account on the CyberPetaCraft platform.

• Ownership of a sufficient amount of PETA to serve as collateral.

• Adherence to all relevant regulatory requirements and platform-specific terms of use.

Collateral Requirements:

• BNB is the only accepted collateral for borrowing PETA.

• The collateralization ratio is set at 120%, meaning users must provide collateral worth at least 120% of the borrowed amount in PETA.

• The platform reserves the right to adjust the collateralization ratio based on market conditions.

Borrowing Limits:

• The maximum borrowing limit is determined based on the value of the provided BNB collateral and the current collateralization ratio.

• Users may not borrow an amount exceeding the established limit.

Interest Rate:

• The interest rate for borrowing PETA against BNB is 0%.

• This rate is subject to discretionary adjustments by the CyberPetaCraft platform in response to market conditions.

Repayment:

• Borrowed amounts must be repaid in PETA.

• Users have the flexibility to repay the borrowed amount at any time.

Liquidation:

• The collateralization ratio, representing the ratio between collateral assets and borrow assets, is crucial.

• If the collateralization ratio changes due to market fluctuations, and the value of the collateral assets is equal to or less than the value of the borrowed assets, the platform reserves the right to liquidate the collateral to cover the outstanding loan.

Risk Disclosure:

• Borrowers are advised to carefully consider the risks associated with borrowing against their BNB collateral.

• Market volatility can affect the value of both the borrowed PETA and the collateral.

Regulatory Compliance:

• Users are responsible for ensuring compliance with all applicable laws and regulations governing borrowing activities on the CyberPetaCraft platform.

Platform Discretion:

• The CyberPetaCraft platform retains the right to modify, update, or terminate the borrowing policy at any time, with or without prior notice.

By participating in the borrowing process, users acknowledge that they have read, understood, and agreed to adhere to this Borrowing Policy. Failure to comply with the policy may result in the suspension or termination of borrowing privileges on the CyberPetaCraft platform.