Fee Structure

GoatNFT implements a Platform Fee, set at 5% of the rental fee. This fee is applicable under specific circumstances following the completion of a rental transaction. There are three possible scenarios:

  • Successful Return of NFT:

    • Escrow and Fees: The borrower places a Collateral + Rental Fee in escrow. Upon the successful return of the NFT, the lender receives the NFT back along with the Rental Fee.

    • Platform Fee Deduction: Once the transaction is successfully completed, GoatNFT deducts a Platform Fee of 5% from the Rental Fee.

  • Early Return of NFT:

    • Rental Adjustment: If the NFT is rented for a set period (e.g., 5 days) but is returned early (e.g., after 3 days), the lender retains the rental fee for the actual rental period (3 days).

    • Refund to Borrower: The borrower is refunded the unused portion of the rental fee (e.g., for the remaining 2 days).

    • Adjusted Platform Fee: GoatNFT's Platform Fee is then adjusted to 5% of the rental fee for the actual duration the NFT was rented (3 days in this example).

  • Late or Non-Return of NFT:

    • Claiming Collateral: If the NFT is returned even a second late, the lender is entitled to claim both the NFT and the collateral.

    • No Platform Fee: In such cases of late or non-return, considered as unsuccessful transactions, GoatNFT does not charge a Platform Fee. This is to the advantage of the lender, acknowledging the inconvenience caused.

This fee structure is designed to ensure a fair and transparent process for both lenders and borrowers on the GoatNFT platform, providing security and clarity in all rental transactions.

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