NFC FAQs
Frequently asked questions about non-fungible credit tokens!
What is NFC composability?
NFC composability refers to the programmable nature of the token, and we have many plans for helping bootstrap this credit market ecosystem in the pipeline.
What happens if you send it to someone else?
The NFC stores the original owner (the minter) of the token, and currently our lending pool requires the borrower to be the same as the original owner (or delegated owner). So if you send it to someone else, they won't be able to use it unless delegated to.
Can I use the same wallet address in multiple NFCs?
Once your wallet addresses are minted into a private NFC they cannot be re-used in other different private NFCs. If you wanted to specify a different configuration you will need to burn your NFC and re-create it. There will be a tool that will help a user preview the MACRO score it will obtain with different configurations of addresses prior to minting the NFC.
Can I change my bundle after I mint my NFC?
Once an NFC is minted from a bundle, users will need to create a new bundle in order to change it. Due to the composable nature of the NFC it is important that the score is predictable so that it can be properly used in different web3 applications. The first application of the NFC will be the Spectral Lending pool and it relies on somewhat stable credit scores to price risk.
How often does my NFC update?
MACRO scores tied to your NFC update at loan origination. You can also manually check your score from our dashboard.
What token standard is used?
We use the ERC721 token standard as a base, with some extra features from
ERC721PresetMinterPauserAutoIdUpgradeable sourced from the Open Zeppelin Upgradeable Contracts library.