1. You must have an active loan out to use this guide. See the guide here on how to take a loan out.
  2. Login to the RociFi Dashboard.

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  1. You will see the following dashboard. There are two places where you can repay your loans. These are highlighted in red below. Click on one of these.

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  1. You will be directed towards a the repayment page with key stats on the on the loan. For example the loan ID, how much is owed on the loan and your wallet’s current balance. Selecting on “Max” will fill the amount field with a value that will pay off the loan. Note you can also make a repayment to the loan from other wallets that are linked with your NFCS.

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  1. Enter an amount and click on repay. The screen will then update to the following (see below). Note in this example we have entered an amount that fully repays the loan. It would also be possible to make a partial payment on the loan.

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  1. Press confirm and sign the transaction. This will start the token spending approval process. This is a standard feature of ERC20 contracts (see here). By doing this the user is allowing the RociFi protocol to take X amount of a ERC20 stablecoin as payment. X will be the amount previously specified.
  2. Once the repayment is successful you will be presented with the following screen.

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  1. This event can also be observed on polygonscan (e.g. here). Here we see that the function repay() was called and the following inputs were provided.

    Screenshot 2022-12-19 at 19.14.42.png

    We can also see the transfer of stable coin tokens from the borrower to the pool and also the RociFi treasury fee. Note that the RociFi treasury fee is 10% of any interest on a loan.

    Screenshot 2022-12-19 at 19.16.45.png

  2. Configurations you’ve repaid your loan!