To help investors who own The Sandbox token (SAND) optimize capital, from February 28th, ONUS officially enables the Credit Line feature for this asset.
Accordingly, users can create a loan with a limit of up to 30%, disbursed to VNDC based on The Sandbox token (SAND) value at the time of loan creation.
With 24% APY interest (equivalent 0.066% per day), users can choose to pay interest by day, week, or month. The minimum loan amount is 200,000 VNDC.
More details about the Credit Line feature are here.
Notes regarding loan making
- When the volatile market causes the loan to be greater than or equal to 95% of the total collateral value, the system automatically converts the collateral into VNDC and settles the loan.
- If you settle smaller assets than the loan, the remaining balance will form a new loan. You only pay daily interest based on this new loan.
- The system will automatically collect periodic interest on the cycle selected by you. If the available balance is not enough to pay interest on the loan, the system will automatically charge that interest to the customer’s debt.
About The Sandbox token (SAND)
The Sandbox is a blockchain-powered platform that allows users to create NFT assets and make purchases and sales of those assets. The platform is focused on enabling an innovative “Play-to-earn” model that allows players to both experience the game and share, collect, and trade virtual assets without censorship controlled by the publisher. The Sandbox Token (SAND) is the utility token in The Sandbox, used as the basis for transactions and interactions in The Sandbox’s ecosystem.