Hello! What happens in case someone fails to repay his loan regarding the mining equipment?will you them a little more time?
Thanks for your question.
If a borrower misses a regular payment, we may:
1) place a maintenance request;
2) ask the client to repay the principal in fiat.
3) liquidate collateral partly by selling clients mining equipment to cover principal and interest.
In any case, we will keep the client informed and make sure that all actions take place in accordance with the terms of the contract.
Best,
CT