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• endLoanRequest is called by the borrower when he decides that he no longer needs the borrowed sum of Ether and wants to return it. Alternatively, it can also be called by the lender if the endLoanTimeStamp has passed and the collateral has not returned. The requirements are the following: – – – loanID exists. The status of the loan request is Status.ACTIVE . The message sender is the borrower and he intends to return the principal amount back before or after the end of loan timestamp, providing that the previous requirements are met. Alternatively, if the message sender is the lender, the end of loan times- tamp has passed and the collateral has not been returned. He can claim the collateral (the ERC-721 token in this case). If all the requirements are met, the two cases of execution are the following: – The caller is the borrower: he returns the principal amount and will receive the NFT posted as collateral. The status of the request is set to Status.ENDED to indicate a finished loan where both parties have honoured their agreement. – The caller is the lender: he can claim the collateral and use it to cover the losses of not receiving the principal amount. This is an undesirable event and the loan will receive Status.DEFAULTED and remain stored in this manner. This will hold the borrower accountable on future loans and will influence his access to liquidity based on his history. • cancelLoanRequest is called by the borrower when he decides to take his loan request off the market. The requirements are the following: – loanID exists. – the status of the loan request is Status.PENDING . – the message sender is the borrower. A safeTransferFrom is initiated to transfer the NFT back to the borrower and the status is set to Status.CANCELLED . Similar to the previous contact a manager address is stored, being the address that has initialized the contract and has the ability to pause the functionality and minimize the impact of any unwanted behavior, in case of an attack. This contract is a useful addition to the previous one and further enhances the utility of ERC-721 tokens by leveraging their market value. 42PDF Image | NFT finance Leveraging Non-Fungible Tokens
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