Am I eligible for a loan?
As soon as you have passed onboarding procedure you may get a loan on the Nitrogen network.
Since each loan on the Nitrogen network is secured with overcollateralization, we assume that when collateral is settled to the smart contract you automatically meet eligibility requirements.
How do I get access to the platform?
You may already experience the full functionality of the platform at https://platform.nitrogen.network
First you will need to register on the platform using your email or with a social network account. We will ask you to confirm your email by sending you a welcoming confirmation notification. In addition to email confirmation you will need to confirm your Ethereum address by signing a confirmation transaction within your MetaMask wallet. Our platform and smart contracts work only with whitelisted addresses.
What countries is Nitrogen network available in?
Persons that are located in or a resident of the United States of America or Québec (Canada) are prohibited from holding positions or entering into contracts at Nitrogen Network. Persons that are located in or a resident of Cuba, Crimea and Sevastopol, Iran, Syria, North Korea and Sudan, or any other jurisdiction where the services offered by Nitrogen network are restricted, are prohibited from holding positions or entering into contracts at Nitrogen Network. Nitrogen network reserves the right to immediately close the accounts and to liquidate the open positions of persons determined to have breached our Terms of Service.
How do I become a borrower?
Once onboarded and whitelisted on the Nitrogen network, create new order for borrowing an asset you need and wait for counterparty to match it. Or go ahead and find a suitable loan offer among the offers in the funding book and accept it by participating in the new transaction.
What is whitelisting?
Whitelisting is a process of approving users' ETH addresses, so these addresses may communicate with Nitrogen smart contracts.
How do I become a whitelisted user?
You should pass the onboarding procedure to get whitelisted. First you will need to register on the Nitrogen network using your email or with a social network account. We will ask you to confirm your email by sending you a welcoming confirmation email. You will also need to sign a confirmation transaction within your Metamask wallet to confirm your Ethereum address. Nitrogen network and its smart contracts work only with whitelisted Ethereum addresses.
What are the benefits of smart contract based whitelisting?
Distributed ledger technology allows for unprecedented levels of transparency, auditability and transferability. Nitrogen white listing is built on the Ethereum smart contract, making it one of the most secure services. Only approved Ethereum addresses may interact with our smart contracts. This approach along with other security measures greatly reduces the risk of malicious access to Nitrogen smart contracts.
May I whitelist more than one ethereum address?
Yes, you may whitelist up to 5 addresses per one user account. Addresses that have been linked to one user account can not be used with other user accounts.
Which wallets are compatible with Nitrogen?
Nitrogen is currently compatible with MetaMask wallet which lets the users to browse the Ethereum network through the browser. The decentralized application has the basic function which can be used to perform secured loans by pledging ERC-20 compatible digital tokens.