Pawn

To add the Cyan's Pawn feature to your application, follow these few steps.

Get pricer data
Get Approval
Create Pawn plan
Make a payment

1. Get pricer data

Pawn pricer accepts a NFT collection address (address) and Id (tokenId) as an input and calculates the data. Also, the parameters are identical to those mentioned in the PAWN API requests.

const signer = provider.getSigner();
await signer.signMessage("Your sign message");

const calculatedData = await cyan.getPawnPrice(
  "mainnet",
  "0xbc4ca0eda7647a8ab7c2061c2e118a18a936f13d", // NFT Collection address
  "3758", // NFT Id
  {
    term: 2678400,
    totalNumOfPayments: 3,
    weight: 20,
    wallet: await signer.getAddress()
  }
);

const signer = provider.getSigner();
await signer.signMessage("Your sign message");

const calculatedData = await cyan.getPawnPrice(
  "0xbc4ca0eda7647a8ab7c2061c2e118a18a936f13d", // NFT Collection address
  "3758", // NFT Id
  {
    term: 2678400,
    totalNumOfPayments: 3,
    weight: 33,
    wallet: await signer.getAddress()
  }
);

const signer = provider.getSigner();
await signer.signMessage("Your sign message");

const calculatedData = await cyan.getPawnPrice(
  "0xbc4ca0eda7647a8ab7c2061c2e118a18a936f13d", // NFT Collection address
  "3758", // NFT Id
  {
    term: 86400,
    totalNumOfPayments: 1,
    weight: 50,
    wallet: await signer.getAddress()
  }
);

PawnType	Description
`Normal - 20`	Normal means a 3-month loan period. User will post their NFT to Cyan, and in return receive a loan in the form of ETH. The 20 signifies the user borrows up to 20% of the appraised NFT value. In other words, they receive a 20% LTV against their NFT.
`Normal - 33`	Normal means a 3-month loan period. User will post their NFT to Cyan, and in return receive a loan in the form of ETH. The 33 signifies the user borrows up to 33.33% (1/3) of the appraised NFT value. In other words, they receive a 33.33% LTV against their NFT.
`Flash`	Flash means a 24-hour loan period. User will post their NFT to Cyan, and in return receive a loan in the form of ETH. All Flash Pawn plans are 50% LTV, meaning the user will borrow 50% of the appraised value of the NFT.

2. Get Approval

Before creating a Pawn Plan, getting Approval is required. This is done by calling the getApproval method.

const approval = await cyan.getApproval(
    address, // NFT address
    calculatedData // from getPawnPrice
);

Also it is possible to check approval has given to the current token by checkApproval method.

📘
When your users initiate a deal on Cyan, they automatically agree to the Terms & Conditions of Cyan. We have an optional signable step you may elect to implement on your front end to make it clear to the user what happens if they miss a payment.

3. Create Pawn Plan

Finally, create a Pawn Plan with the data returned from the getPawnPrice method.

const desiredNftToPawn = calculatedData

const result = await cyan.createPawn(desiredNftToPawn);

4. Make a payment

To make the next payment in a created Pawn Plan, please follow the steps in Plans.