Frequently Asked Questions

  • How is the payment amount of each billing period calculated?

    • The exact payment amount will vary depending on the pool configuration, but at the end of every billing period the pool will charge interest based on the APR, outstanding principal, and any drawdowns made. Note that any drawdowns made will add interest to the current billing period, so you may have additional charges due if you pay back then drawdown immediately.

  • Is a payment due immediately at the end of a billing cycle?

    • Each pool has a late payment grace period configured, which is typically around five days but can vary from pool to pool. Payments won’t be considered late until after this grace period after the end of a billing cycle has passed.

  • What happens if a payment is missed?

    • Depending on the pool configuration, a late fee may be issued that must be paid off before subsequent drawdowns can be made. To pay off the fees and due amount, simply enable AutoPay and transfer the amount due into the wallet, or make a payment manually

  • How does AutoPay work?

    • We recommend all partners use Huma’s AutoPay functionality to pay back to the pool. After approving an allowance of the underlying token to the pool, the pool will automatically attempt to pay the minimum amount due at the end of every billing cycle.

  • I put money in my wallet but AutoPay isn’t working

    • AutoPay will attempt to run every five minutes. If it’s been more than five minutes and your AutoPay is still not going through, please contact us to investigate. You may also try to make a manual payment.

  • How can I check whether AutoPay is correctly setup on my pool?

    • Check the pool details page to see whether your wallet is set up for AutoPay correctly. It’s recommended to also sign up for email notifications to receive updates of the AutoPay triggers.

Last updated