How the Secondary Market Works on 8lends

Capital locked for 4–16 months in a P2B loan? 8lends turns your active position into cash the moment another investor buys it.

The Secondary Market allows an investor to sell an active position before the end of the loan term — providing a way to exit early. The seller pays a 10% fee, the buyer pays 0%. Only complete positions in the Funded stage are sold. The buyer receives all future payments on the project: interest and repayment of the principal. The transaction goes through a smart contract on the Base blockchain. This solves the main limitation of P2B lending — low liquidity.

Why the Secondary Market is needed

In classic P2B lending, an investor "locks" capital for the entire loan term (4–16 months). If plans change or money is needed sooner — you have to wait until the end of the term.

The Secondary Market solves this: an investor lists a position for sale, another investor buys it, and the seller receives the funds immediately. It is a liquidity mechanism for early exit.

How to sell a position

Go to the Secondary section in your personal account
Select an active position (in the Funded stage) that you want to sell
Specify the selling price
List the position on the market
Once it is purchased by another investor, receive the funds minus the 10% fee

Only complete positions are sold — partial sale of a share is not supported.

How to buy a position

Open the Secondary Market section
Review the available positions for sale: project, credit rating, remaining term, price
Select a position and confirm your purchase (KYC verification is required)
After the transaction, the buyer receives the right to receive all future payments on the project

The buyer does not pay a fee to the platform — only the price of the position and the gas fee.

Secondary Market fees

Party	8lends fee
Seller	10% of the transaction amount
Buyer	0%

In addition to the platform fee, both parties pay the Base network gas fee for the transaction (a few cents in ETH).

What the buyer receives

When purchasing a position on the Secondary Market, the buyer acquires the claim right under the loan:

All future monthly interest payments until the end of the term
Repayment of the loan principal at the end of the term
The same terms (rate, term) that were fixed when the pool was closed

In effect, the buyer takes the seller's place in this loan.

How the price is formed

The price is set by the seller. It is influenced by:

The remaining term until repayment — the less time left, the sooner the buyer will receive the principal
Accrued but unpaid interest on the position
The credit rating and status of the project — reliable projects are more liquid
Market demand — the willingness of other investors to buy

The seller can sell at a discount (for a quick exit) or at a premium (if the project is attractive).

Limitations

Only complete positions in the Funded stage are sold
Positions in the Open stage (the pool is still being collected) cannot be sold — the standard refund applies there in case of Not Funded
Liquidity depends on the availability of buyers — an instant sale is not guaranteed
Positions in default or deep arrears may not find a buyer or may be sold at a large discount
A buyer of a position on the Secondary Market does not receive Proof of Loan — the 8LNDS tokens remain with the seller (the one who originally invested in the project)
A purchase on the Secondary Market does not increase the Limited Buy quota limit — that is, for the buyer this transaction does not count toward the project quota
Both Buyer and Seller should be KYC verified

Frequently asked questions

How much does it cost to sell a position? The platform fee is 10% of the transaction amount, withheld from the seller. The buyer pays the platform nothing. Plus, both parties pay the Base network gas fee (a few cents). If you hold the position until the end of the term — no Secondary Market fee arises.

Is the sale of a position guaranteed? No. The Secondary Market works on a "seller-buyer" principle: a position is sold only if a buyer is found at your price. Attractive projects with a good rating sell faster. Instant liquidity is not guaranteed.

Can I sell part of a position? No. Only complete positions are sold. If you invested 1,000 USDC in a project, you can sell the entire position, but not part of it.

What does the buyer see before purchasing? The project, the borrower's credit rating, the remaining loan term, the price, the accrued interest and other relevant parameters. The same transparency as on the primary market — all loan data is available.

Can I buy a position in a project that is already closed for direct investment? Yes, this is exactly why the Secondary Market exists. If a project is in the Funded stage (the pool is closed), the only way to enter it is to buy another investor's position through the Secondary Market.

What will happen to my purchased position if the borrower defaults? The same rules apply as for the primary investor: if the project has Buyback — buyback of the position and return of the principal under the program terms; if not — realization of the collateral through Maclear AG. By buying a position, you also accept its risk profile. More details

Is this a secondary market like on an exchange? In this sense, it is similar— it is a venue for reselling existing positions. But it is not an exchange order book with instant execution: a transaction occurs when a specific buyer decides to buy a specific listed position. It is closer to a notice board (hence the name Secondary Market).