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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 soon! The rules, milestones, and bonus amounts for the next allocation will be published well in advance.

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.

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. Currently, reward points are not redeemable and simply show the loyalty level of a user. However, they are planned to become redeemable for benefits at a later point in time for eligible persons. U.S. residents, other U.S. persons, UK residents, other UK persons, and residents of countries or regions subject to sanctions, embargoes, or other restrictions imposed by the United States government or other applicable international authorities as well as persons subject to sanctions imposed by applicable international authorities are not eligible persons, and their points will not be redeemable. The eligibility of non-U.S. persons is at NFTfi's sole discretion and may take into account regulatory circumstances per jurisdiction. NFTfi makes no guarantees or promises regarding the issuance of any blockchain tokens. The timeline for a token issuance, whether or not an issuance occurs, and the conversion rate between reward points and tokens are all at NFTfi's sole discretion.

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.


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