Spout at a Glance

Every key number in one place. Each is explained on the page named in the last column.

Borrowing

ItemValueWhere it is explained
Interest0%How Borrowing Works
Maximum LTV50% for every assetLTV, Health Factor and Safety Zones
Liquidation threshold54.1% to 62.5%, by assetSupported Assets
Liquidation penalty4.1% to 12.5%, by assetLiquidation
Liquidation sizePartial, back to about 50% LTV, by defaultLiquidation
Maximum leverage on a buy1.98xBuying With Leverage
Borrowing pauses at85% pool utilizationCircuit Breakers and Pauses
Option cycle lengthWeekly or every two weeks, by assetOptions Cycles and Withdrawing Collateral

Lending

ItemValueWhere it is explained
Senior priority7% a year on Senior's balance, not guaranteedSenior and Junior Tranches
Split above the priority25% Senior, 75% JuniorTranche Math
Target APYAbout 9% Senior, about 32% Junior, from the model on the Tranche Math pageTranche Math
Junior minimum12% of the pool while the pool's yield rate is above Senior's 7%Senior and Junior Tranches
Cash reserve target15% of the poolIdle Cash, Treasury Bills and the Cash Reserve
Withdrawal fee0.20% of USDC withdrawnFees
Senior instant withdrawal0% to 3% haircut, by reserve healthWithdrawing From Senior
Junior notice period45 daysWithdrawing From Junior
YieldAccrues continuously, settles weeklyAccrual and Weekly Settlement

Fees and reserves

ItemValueWhere it is explained
Protocol fee on premium20%, or 10% while the Insurance Fund is at targetFees
Fee on Treasury bill yieldNoneFees
Protocol fee split50% Insurance Fund, 50% treasuryFees
Insurance Fund target2% of pool valueThe Insurance Fund

Platform

ItemValue
BlockchainSolana
StablecoinUSDC
Price oracleStork
Supported assets11, listed in Supported Assets
Option contract size100 shares