# FAQs

## Frequently Asked Questions 

**Q: Can I extend my loan?**\
A: No, once the loan term has expired, the lender will have to initialise another pool.\
\
**Q: As a lender, can I adjust my rates?**\
A: You can adjust rates for new loans, but existing loans maintain their original terms.\
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**Q: How does Lends ensure fair pricing?**\
A: Our platform allows market-driven pricing, with lenders setting their own competitive terms.

**Q: What happens if I default on my loan?**\
A: Defaulting is treated as a strategic option. You forfeit your collateral but keep the borrowed funds.\
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**Q: How do I create a lending pool?**\
A: Deposit tokens into your account, set your parameters like APR and LTV ratio, and then launch your pool.\
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**Q: Can I have multiple lending pools with different terms?**\
A: Yes, you can create multiple pools with varying terms to attract a wider range of borrowers.\
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**Q: What types of collateral can be used?**\
A: The platform supports various collateral tokens, which you can specify when setting up your lending pool.\
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**Q: How do I monitor my account and loans?**\
A: You can view your lent assets, open orders, and counterparties on your account page, and manage your loans and adjust parameters as needed.\
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**Q: Is there a risk of forced liquidation?**\
A: No, Lends does not enforce forced liquidations. Borrowers have the flexibility to choose their repayment strategy.\
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**Q: How are repayment deadlines handled?**\
A: Both parties know exactly when repayment is due, eliminating guesswork and ensuring clarity.\
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**Q: What if the market value of the collateral drops**?\
A: Our approach helps stabilize token value during market downturns, benefiting the entire ecosystem.\
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**Q: Can lenders use defaults strategically?**\
A: Yes, lenders can use defaults to acquire desired assets at predetermined rates, effectively using Lends as a limit order system.\ <br>


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