🔄Steps to rollover
Last updated
Last updated
Read before using "Rollovers", important information regarding eligibility to rollover
You must always repay your prior loans fee (interest) in order to rollover
Step 1: Make sure you already have a loan from a prior pool
Step 2: You can check by going to the My Pools tab, you will see your open loan details
Step 3: Click the rollover tab
Step 4: Select the eligible pool(s) you would like to rollover into
Step 5: Review the transaction
note the fee due;
the amount of collateral you will be reimbursed (in the case that the lend ratio is higher on the new pool);
and amount due (in the case the lend ratio is lower than the prior pool).
Step 6. Repay your interest owed from the prior pool
Congratulations, you have extended your loan to a further out date via a rollover. Your new repayment due date will be the new pools repayment date.
1. Navigate to https://vendor.finance/my-pools/
2. Click "Connect Wallet"
3. Click the option you want to connect too.
4. Click the pool in which you have a loan that you want to rollover
5. Click "Rollover"
6. Select the eligible pool(s) that has popped up on the rollover screen. Note there can be multiple pools you can rollover into. Or there may not be any, in that case no pools will show up.
7. Click "Rollover" after you review the transaction details. You will be paying back the interest from the prior pool before rolling over. If the new pool has a higher lend ratio than the last pool, you will get collateral back. If it is lower, you will owe more collateral. If it is the same, you will only owe interest due from the last pool.