> For the complete documentation index, see [llms.txt](https://nftgogogo.gitbook.io/goatnft/llms.txt). Markdown versions of documentation pages are available by appending `.md` to page URLs; this page is available as [Markdown](https://nftgogogo.gitbook.io/goatnft/faq.md).

# FAQ

* What is GoatNFT?: 

GoatNFT facilitates easy NFT renting and lending. It's ideal for individuals considering purchasing an NFT or needing one temporarily, with a wide range spanning from art to utility NFTs.

* What does NFT renting and lending entail?: 

Lenders set terms like rental fees and duration, while borrowers can rent NFTs for periods set by lenders. More information is available in the official documentation.

* Risk of NFT theft?: 

There's a system in place where borrowers provide a collateral deposit. If they fail to return the NFT, the lender keeps the collateral.

* Are there any fees?: 

A 5% fee of the rent price is charged during the NFT return process.

* Can I use WE tokens for renting/lending?: 

Currently, transactions are conducted with oUSDT and USDT, but other tokens may be considered in the future through governance and DAO.

* Supported NFT mainnets?: 

GoatNFT supports Klaytn and Ethereum-based NFTs, including ERC-721, ERC-1155, and KIP-17 tokens. Future expansions to include multi-chain and L2, like EVM-based Polygon and Binance Smart Chain (BSC), are planned for Q1 of 2023.

* Is GoatNFT 100% risk-free?: 

No platform is entirely without risk. Potential risks include smart contract vulnerabilities and liquidation risks.

* Identifying fake NFTs?: 

Borrowers should verify the authenticity and contract address of the NFT, preferably on platforms like OpenSea or Rarible.