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The Refinancing Process

X2Y2 is a NFT lending platform that offers a variety of loan options. In this article, we will introduce the ‘Refinance’ feature.

Once borrowers have agreed to the loan terms and borrowed money through X2Y2, they can extend or replace their existing contracts at any time.

If borrowers want to continue borrowing WETH before the loan contract expires, they can apply for an extension.

It is worth noting that an extension is not a renewal of the original offer but a replacement with a new offer. The WETH obtained from the new offer will be used to repay the loan from the original offer, thus extending the borrowing time and providing an opportunity to obtain better interest rates and conditions. This can help users reduce their burdens, save interest expenses, or change repayment periods.

The X2Y2 interface displays all refinance options for loans based on the NFT collateralized for lending. The information will list the loan value, repayment amount, loan interest rate (daily), duration, and other information, making it easy for borrowers to compare.

To use the Refinance feature, follow these steps:

  1. Select the NFT that needs to be extended in Loans Received, you can see any other offers.

Refinance button

  1. On the Offers page, you will see all refinance options for this NFT on the site. Differences in loan Value, Repayment, Daily APR etc. will be displayed for your reference. Please click Refinance the offers you want to replace according to your needs.

Offers list

  1. After selecting the offer, click Refinance, it is the process of waiting on the chain,you can see a detailed comparison of the original loan terms and the updated terms from the new offer. After confirming that everything is correct.


  1. After the refinance is completed, the new offer will automatically take effect. The WETH borrowed from the new offer will be used to repay the loan from the original offer, and the remaining WETH will be transferred to your wallet. For example, if the loan amount in the new loan is 3 WETH , the repayment amount in the current loan need repay 1.172 WETH, the remaining 1.827 WETH will be transferred to your wallet.


  1. After repayment, the original loan will be terminated, and you need to complete the repayment or a new refinance before the due date of the new loan.