How Borrowing Works

The lifecycle is intentionally short and predictable. You bring or buy collateral, lock it into the protocol's options cycle, borrow stablecoins against it, use the cash for anything, and repay whenever.

  1. 1
    Bring or buy collateral.

    Deposit tokenized equities you already hold, or buy them inside the app with stablecoins.

  2. 2
    Lock your collateral.

    Locking enrolls your position in the options cycle. Required to borrow. Also supported without borrowing — you still earn the borrower's share of cycle yield.

  3. 3
    Borrow stablecoins.

    Borrow up to 50% of locked collateral value in stablecoins. 0% interest, no recurring fees.

  4. 4
    Use the stablecoins.

    Send them anywhere. Spend them anywhere. No restrictions on what you do with the borrowed liquidity.

  5. 5
    Repay and unlock.

    Repay any time, in any size, in any supported stablecoin. After full repayment, collateral exits the cycle at the next close and is fully unlocked.

There is no funding cost, so there are no margin calls based on funding. No recurring fees, no interest accrual.