Blog - News

Earn Season 1: Introducing Loan Streaks

August 08, 20234 min read

Twitter thread NFTfi Earn season 1

As all you NFT lovers already know - the NFTfi Rewards loyalty program rewards responsible lending and borrowing behavior. It is our first step toward a decentralized, user-owned, and operated protocol. 

Earn Season 1 has significantly lowered interest rates and cemented NFTfi’s status as the go-to platform for low-APR, long-term loans on high-value NFTs

Today, we are introducing loan streaks, a new way to secure Earn Bonus Points during Earn Season 1. Loan streaks specifically reward platform loyalty and long-term loans.

What is a loan streak?

A loan streak on the NFTfi platform represents consecutive months during which a user has an active loan, either as a borrower or a lender.

A streak continues as long as a user has at least one active loan present each calendar month. Loan streaks focus on monthly continuity, not daily. This means that inactive days within a calendar month do not break a streak, only inactive calendar months do.

The below image shows an example of a valid 3-month loan streak:

Earn season 1 3-month streak

In this last example, a broken loan streak is shown (month 2 has no active loans):

Earn season 1 NO streak

Wash loans and loans with an APR below 2% or a duration below 3-days are not eligible for loan streaks. Defaults on loans started before August 6, 2023, do not break loan streaks. For this bonus allocation defaulted loans do not break loan streak, for future allocations this might change.

Who is eligible to get Earn Bonus Points for loan streaks?

Today, NFTfi is conducting the first Earn Bonus Points allocation to everyone who had a loan streak of 3 months or more at any point since NFTfi launched in May 2020, up until August 6, 11:59 CET, 2023!

A 3-month streak earns 500 points, a 6-month streak earns 1,000, a 9-month streak earns 1,500 points, and finally, a 12-month streak earns 2,000 points. If you have multiple streaks, the longest one will be the one that counts.

AS Earn season 1 Loan streak bonus

What if you didn’t have any loan activity for months and you don’t have a loan streak? 😬

Don't worry! We will do another allocation for loan streaks in about 3 months! The rules, milestones and bonus amounts for the next allocation will be published next week.

If you start to (or continue to) build up your loan streak, you can significantly boost your Earn Points by the end of Earn Season 1, since bonus points also count for NFTfi Leaderboard and leaderboard multipliers.

Make sure to add your email address to your NFTfi account to receive periodic updates about your loan streak status via email. At the moment, you can't directly monitor your loan streak in the dApp.

More Earn Bonus Points are coming next week!

Next week, we’ll reveal yet another surprise for all loyal NFTfi users. This time the loan duration will play the most important part!

Stay tuned! Follow us on Twitter and join our Discord server so you won’t miss the next announcement! Check out the NFTfi Rewards FAQ for any questions you may have around loan streaks.

This is not an offer of tokens or securities. Reward points are at present not redeemable. They are planned to be redeemable for blockchain tokens at a later point in time for eligible users. Certain persons (such as US residents, other US persons and persons located in the US) are not eligible to participate in NFTfi Rewards, and their points (if any) will not be redeemable.

This blog post is for informational purposes only and should not be construed as financial or investment advice. Investments in loans carry inherent risks, and the value of NFTs can be highly volatile. Users should carefully consider their risk tolerance and investment objectives before taking out loans. Refer to the NFTfi Rewards FAQ and the NFTfi Terms and Conditions for more details before participating in the loyalty program.


epicenter podcast

August 11, 2023

NFTfi – P2P NFT Lending Protocol: From PFPs & Art to RWA

Stephen Young and Storm from NFTfi joined the Epicenter Podcast to discuss the general state of the NFT market, future prospects for NFT development, and how NFTfi, a P2P NFT lending platform, unlocks new sources of liquidity in this bear market.

Learn more >
Blog thumbnail allowances explained

August 03, 2023

A complete guide to allowances on NFTfi

In this article, we explain everything borrowers and lenders need to know about allowances on NFTfi. In order to fund or repay loans on NFTfi, our smart contracts need permission to move the ERC-20 tokens you are using.

Learn more >
NFTfi Earn season 1 APR update

July 05, 2023

Earn Season 1: APR Incentive Update

After 6 weeks post-launch, the average loan APRs on NFTfi continue to drop and NFTfi has become the leading NFT lending protocol by outstanding debt. Today we’re making Earn Season 1 more inclusive.

Learn more >

Put your NFTs to work and get the liquidity you need.