Your card's safety

Where your card is

The physical slab stays in the vault of the company that tokenized it, either Collector Crypt or Phygitals. We never hold physical cards. The token stays in your own wallet, including while you borrow.

While you borrow

Your card is locked in your wallet for as long as the loan is open. You can't transfer, sell or list it until you repay, and as long as you're on time, we won't sell it.

The lock comes off when you repay. It also comes off if you withdraw a private request before anyone funds it.

A price drop doesn't cost you the card

We don't sell a card because its market price fell. The only thing that puts your card at risk is missing your deadline.

How you could lose the card through MLKY

There are two ways, and both start with a missed deadline:

1. You don't repay a MLKY Pool loan in time and the card is sold at auction. Whatever is left after the sale costs and your debt comes back to you. See If you can't repay.
2. You don't repay a private loan in time and the lender takes the card. Nothing comes back to you. See Asking lenders directly.

Your lender never receives the card from a MLKY Pool loan. They're repaid in cash.

What we can't control

The company that tokenized your card sets its own rules for the physical card and keeps some control over its tokens. Phygitals, for example, can move, destroy or freeze its card tokens, even one that's locked by a loan, and MLKY can't override that. Risks has more on this.

Keep your wallet safe

We will never ask for your seed phrase or private key. Anyone who has them controls your cards and your money. Before you connect a wallet or sign anything, check that you're on mlky.io.