Features

Rental Offers

In order to initiate a rental, a rental offer has to be created.

A rental offer can be seen as a bundle of NFTs available for rental (with duration and percentage of rewards kept by the lender, for each NFT), an upfront rental cost, and a deadline for the validity of this offer.

A rental offer can either be public or private. Private rental offer are restricted to a chosen tenant, by the lender.

A rental offer can either be created on-chain or off-chain. For on-chain offers, the offer is advertised via the preSignRentalOffer function.

Until a rental starts the lender is still owning his NFTs.

Rental

Users can browse through a list of rental offers.

Even though a rental offer can be a bundle of multiple NFTs, a rental is always done on a per NFT basis. Each rented NFT has a dedicated duration and rewards distribution.

When a tenant starts a rental (rent function), multiple actions are done:

• the protocol fee is sent to a Cometh wallet (5% of the upfront cost specified by the lender)

• the remaining upfront cost amount is sent to the lender

• the original NFTs are transferred to the rental protocol contract

• the lender receives a LentNFT per rented NFT, whose tokenId are the ones of the original NFTs

• the tenant receives a BorrowedNFT per rented NFT, whose tokenId are the ones of the original NFTs

As tokenId are the same amongst all rental protocol NFTs, a player can either play with the original NFT or the BorrowedNFT.

A rental is usually terminated when its end date is reached. Either the lender or the tenant can end a rental, through the endRental function.

When a rental is ended:

• the lender gets back his original NFT

• the lender LentNFT is burnt

• the tenant BorrowedNFT is burnt

A rental can be ended before its end date if both the lender and tenant agrees to do so.

A rental sublet can't be ended prematuraly.

When the first party is willing to end prematurely a rental, he calls the endRentalPrematuraly function. A RequestToEndRentalPrematuraly event is emitted. Then the second party can either ignore or accept this request by calling the endRentalPrematuraly function. When a rental is ended prematurely the same process than the usual end rental workflow is applied, except the check on the end date.

Sublet

A tenant can sublet the borrowed NFTs to other users.

The main purpose of this feature is to handle guilds use-cases allowing a guild manager to rent multiple NFTs and then sublet them to the guild players.

A sublet has no up-front cost and can be ended at any time by the sublender (so the tenant from the rental).

The sublender can choose how many rewards percentage to keep to themselves and must give the address of the subtenant (guild player).

When a sublet is done, multiple actions are done:

• the sublender transfers his BorrowedNFT to the subtenant

• the sublender is given a SubLentNFT, whose tokenId is the same as the BorrowedNFT one

In order to end a sublet, the subtenant calls the endSublet function. When doing so:

• the SubLentNFT is burnt

• the subtenant gets back the BorrowedNFT

Recap of Rental Protocol NFTs

Name	Purpose
LentNFT	Sent to a lender. Allows to reclaim the original NFT when rental ends
BorrowedNFT	Sent to the party allowed to play as if he owned the original NFT
SubLentNFT	Sent to a sublender (if any).

Matrix of allowed operations

Case 1 (without sublet)

	LentNFT	BorrowedNFT
End Rental	✅	✅
End Prematurely	✅	✅
Sublet	❌	✅
End Sublet	❌	❌

Case 2 (with sublet)

	LentNFT	SubLentNFT	BorrowedNFT
End Rental	✅	✅	❌
End Prematurely	❌	❌	❌
Sublet	❌	❌	❌
End Sublet	❌	✅	❌

Fees

Fees percentages are represented as basis points, from 0 to 10,000 (so 12.34% is the value 1234).

Fee pencentages are not based on the rewards to be distributed, but what the lender and sublender keep for themselves.

Let's assume 150 ERC20 rewarded for a won game. If the lender keeps 20%, they would earn 150 * 2000 / 10000 = 30 ERC20. Remaining rewards to distribute: 150 - 30 = 120 ERC20. If the sublender keeps 15%, they would earn 120 * 1500 / 10000 = 18 ERC20. Remaining rewards sent to the player: 102 ERC20.