📣General FAQ

Frequently Asked Questions when using Paragon

What is Paragon?

Paragon is a peer 2 peer NFT platform that offers Buy Now Pay Later, Rental, Rent to Buy and Buy/Sell.

How does Paragon work?

Paragon utilizes ERC 4337 to power the Paragon smart wallet. A user creates their Paragon wallet once signing up for the platform and can use it just like any other wallet. When a user rents an NFT or initiates a BNPL contract the NFT will remain in the buying parties smart wallet. You will be able to use it as designed, aside from sending the NFT to another wallet, a burn contract, or any other malicious txns.

Why should I list my NFTs on Paragon?

Unlike other platforms, Paragon offers users the ability to list their NFT for multiple financing options. A user can list their NFT for sale, offer a daily rental price, offer the buyer to pay in installments, and more. This gives NFT holders further optionality.

What happens when a user defaults on a payment?

Is User A list their NFT for BNPL and user B accepts this offer User B will need to pay the first installment immediately. If User B defaults on any future payment, they will lose all previous installments. User A will keep all proceeds from paid installments and will be able to claim the NFT back into their wallet.

Can I list NFTs from my current MetaMask wallet?

Yes, once you log in to the Paragon platform you will be able to activate your Paragon smart wallet. This is most important when you are renting someone else's NFT, as it will remain in your Paragon wallet during the rental period. Listing parties are able to list their NFTs directly from their Meta Mask wallet.

Are there fees for Buy/Sell? Rental? Rent to Buy? BNPL?

There are temporarily no fees associated with rentals, rent to buy, BNPL on the Paragon platform. This fee structure is subject to change in the future?

Can I use USDC?

Yes, Paragon enables users to list their NFTs and designate either USDC or ETH as form of payment. When browsing Paragon make sure to check which token is used in a given listing.