Buy Now, Pay Later

Zumer Protocol provides Buy Now, Pay Later (BNPL) services that allow users to make purchases on their favorite NFTs and pay for them in the future 30 to 90 days. BNPL is integrated on the Auction Page. Users can surf the Auction Page and search for their ideal NFTs.
Currently, Zumer supports the NFTs coming from the following marketplaces:
  • OpenSea
  • LooksRare
With BNPL, Zumer only covers part of the floor price of NFT. Users need to pay the margin between the current price and the floor price of NFT
Margin=NFTcurrent priceNFTfloor price\text{Margin} = NFT_{current \space price} - NFT_{floor \space price}
When users open the Buy Now, Pay Later Page of an NFT, Zumer will calculate the down payment of users (Paid by you) and the remaining payment, which users will borrow from the zBond contract with the NFT they bought through BNPL as collateral (Paid by Zumer).
The down payment of users will be the margin between the current price and the floor price of NFT plus part of the floor price that isn't covered by Zumer.
Down Payment=NFTfloor price×(1Collertal factor)+Margin\text{Down Payment} = NFT_{floor \space price} \times (1-\text{Collertal factor}) + \text{Margin}
  • Interest rates include Funding rate, Credit spread, and Underwriting fee
  • The final price of the NFT on BNPL page will be a little higher (generally less than 1%) than it is listed on its marketplace.
    • This is caused by the flash loan fee that Zumer needs to pay to AAVE.