Introduction
Custom Offers (OTC Loans) allow lenders to make custom offers on individual ordinals. This guide provides step-by-step instructions for creating, accepting, and countersigning OTC loan offers on Liquidium.
How to Create a Loan Offer (As a Lender)
Navigate to the OTC Loans Page
Go to app.liquidium.fi/otc-loans.
Initiate a New Offer
Click the "New Offer" button.
Enter the Inscription ID
Paste the inscription ID of the ordinal you want the lender to use as collateral.
Note: The inscription ID is different from the inscription number. It looks like this:
6fb976ab49dcec017f1e201e84395983204ae1a7c2abf7ced0a85d692e442799i0.
You can find the inscription number on ordiscan.com and many other services.
Set the Loan Terms
Customize the loan terms to your preference. Check the offer book to see if there are existing loan offers on this specific ordinal.
Create the Offer
Click "Create Offer." You can now share the link for quick access.
How to Accept an Offer (As a Borrower)
View Offers Made to Your Ordinals
Go to app.liquidium.fi/otc-loans.
On the right-hand side, under "Requests for You," you'll see all offers made to your ordinals.
Review and Respond to Offers
Accept or decline the received offers.
Accepting an Offer
If you click accept, a window will open showing you all the details at a glance.
Select Desired Fee Rate and Confirm
Choose your desired fee rate and accept the offer.
Sign the Transaction
Sign the transaction in your wallet. At this step, no funds are transferred until the lender countersigns.
Wait for Lender's Countersignature
The lender will be notified and will countersign the loan. This may take some time depending on the lender's response.
How to Countersign Offers (As a Lender)
Receive Notification
If your loan offer is accepted, you will receive a notification if you have enabled email and Telegram notifications.
Navigate to Your Portfolio
Go to app.liquidium.fi/portfolio.
You will see "Action Required" in the navigation bar and a "Pending" tab in your portfolio.
Countersign the Loan Offer
Navigate to "Pending" to see the signed offer.
Click "Sign" to countersign the loan offer. The loan starts as soon as you countersign.
Note:
If a UTXO was spent between the borrower and lender signature, you might need to rebuild the loan. Both the lender and borrower must click rebuild, and the loan should start once both parties sign in a timely manner without spending UTXOs in between.
Important Notes
Customizability: OTC Loans offer more customizability compared to regular loans. They are ideal for high-value loans of special or rare inscriptions that don't fit standard collection offers.
Usage Recommendation: We recommend using OTC Loans for special cases. For everything else, our traditional loans provide a better user experience and quicker loan matching.
Experimental Feature: OTC Loans is currently an experimental feature.
Points System: Points for this feature work the same way as they do for our traditional loans.
Loan Repayment and Default:
If the loan is repaid by the borrower on time, the collateral returns to the borrower.
If the loan is not repaid, it defaults and the lender receives the collateral.
If the borrower repays the loan early, the borrower still needs to pay the full interest and service fee.
We recommend repaying loans well before the expiration date in case there is any issue or the Bitcoin blocks are taking very long.
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For further assistance, please contact our support team.