How does Core function?
Automatically.
Users will see the UGS Labs logo on the listings of an approved NFT collection, which is accessible either through the browser extension or native integration. Clicking this opens a buy window, as shown in the image below. Users can purchase NFTs by depositing between 33% and 99% of the NFT's value.
Here's a step-by-step example of using Core:
A trader or collector wants to buy a 100 SOL NFT but only has or is willing to risk 50 SOL.
They click the UGS logo, opening the buy window. The user decides to deposit 50 SOL. UGS Labs provides the remaining 50 SOL, allowing the user to purchase and own the NFT.
Based on this deposit, the liquidation threshold would be 80 SOL. The NFT is locked in the user's wallet unless interacted with through one of Core's functions.
They are now in complete control of their trade and have the ability to monitor all aspects as well as conduct any of the 3 Core functions at any time.
When managing an active trade through Core, users can:
List the NFT on their preferred marketplace.
Sell instantly to our partnered AMMs.
Add liquidity to prevent liquidation or pay off the NFT.
Users have the flexibility to add any amount of liquidity as frequently as they desire. Collectors can gradually add liquidity for a buy-now-pay-later approach, while traders can introduce liquidity when needed to reduce their liquidation threshold if they're worried about potential risks. Fees The fee structure behind Core is simple. We do not charge interest or require any external collateral, the only collateral considered is the NFT your purchasing. So what do we charge? We have two fees, however, YOU ARE ONLY CHARGED ONE OF THEM. Borrower Fee: When the user pays off the NFT. 1.5% for the public. 0.5% for holders of Underground Society. * These are based off the amount borrowed NOT the purchased price. Seller Fee: If the users sells the NFT without paying off the NFT. 5% for the public. 2.5% for holders of Underground society. * These are based off the amount borrowed NOT the purchase price or sale price in the future.
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