Loans (uncollaterized)
Chelo Lending user guide
Once the Lending Pool has been created and it is funded (see previous section), we can create our first collateralized and uncollaterized loans.
In our mini-DAO dashboard we go to the loan table and click in the “+” symbol. It should take us to another interface where we can create our loan.
We have several fields to specify for our loan:
Principal Amount: amount of tokens that are going to be given to the borrower. Repayment
Amount: amount that the borrower should repay
Token: the token to be borrowed
The repayment date: limit date for repayment
Portfolio used: this field is unique for each mini-DAO.
Borrower address: borrower address
To create an uncollaterized loan we must click “Save” and submit the transaction.
Once that is done we have to go to our mini-DAO dashboard as mentioned above and approve the loan creation.
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