Prax AI
  • Welcome to Prax AI
  • FAQ
  • 💁 GUIDES
    • Borrowing on Prax AI
      • Creating a loan request
      • Borrowing from asset/collection page
      • Repaying loans
    • Lending on Prax AI
      • Funding loans
      • Making token and collection offers
      • Claiming repayment
      • Claiming defaulted collateral
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  1. 💁 GUIDES
  2. Lending on Prax AI

Claiming defaulted collateral

PreviousClaiming repayment

Last updated 5 months ago

If a borrower defaults on a loan, their collateral automatically becomes available for claiming.

  1. Go to the "your lending" section of the or click on the notification icon

  2. Select the defaulted loan

  3. Click "claim collateral"

⚠️ If the defaulted collateral is a bundle of assets, you'll need to unpack it after claiming using the unpacker.

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