Set Max Rental Time (MRT)
Step-by-step guide on how to change the Maximum Rental Time of NFTs.
Last updated
Step-by-step guide on how to change the Maximum Rental Time of NFTs.
Last updated
When delegating an NFT to a Scholarship Program, the UI will ask the NFT Owner for the Maximum Rental Time (MRT). MRT is the maximum amount of time the Owner has to wait to get their NFT back. Generally speaking, Owners can withdraw their assets at any time. The only exception is when the NFT is on an active rental. In this case, the Owner has to wait for the rental to expire to submit a Withdraw transaction.
To limit the maximum amount of time the Owner has to wait, Orium introduced the MRT. MRT limits the duration of rentals Guilds can create to prevent users from having their assets rented out indefinitely.
The MRT parameter is set during the delegation process, but Owners can change it later.
To change the MRT of an NFT, go to the Management page of your Safe and click on the three dots of any non-Idle NFT.
Click on the option Set Max Rental Time, and select all the NFTs you would like to update.
Finally, click on the Set Max Rental Time button and inform the new desired MRT.
Lastly, click on Set New Time and confirm the transaction on your wallet.
