# Parameters at a Glance

> The main parameters in these docs, in one table. Per asset risk settings, tranche settings and fees are set by governance within limits the program enforces.

Canonical: https://spout.finance/docs/parameters/

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The main parameters in these docs, in one table. Per asset risk settings, tranche settings and fees are set by governance within limits the program enforces.

| Area | Parameter | Value |
| --- | --- | --- |
| Borrowing | Interest | **0%** |
| Borrowing | Maximum LTV | **50%**, and the program never allows more |
| Borrowing | Liquidation threshold | **54.1%** to 62.5%, by asset (see Supported Assets) |
| Borrowing | Liquidation penalty | Threshold minus 50%: 4.1% to 12.5%, by asset |
| Borrowing | Safety zones | Safe up to 35% LTV, warning above 35% to 45%, danger above 45% |
| Borrowing | Partial liquidation target | About 50% LTV |
| Borrowing | Full sale above | **100%** minus the asset's penalty, about 87.5% to 95.9% LTV |
| Borrowing | Maximum leverage on a buy | **1.98**x |
| Borrowing | Utilization cap | **85%** |
| Cycles | Cycle length | Weekly or every two weeks, by asset |
| Cycles | Contract size | **100** shares |
| Cycles | Contract lengths accepted onchain | **1** to 35 days |
| Lending | Senior priority | **7%** a year on Senior's balance |
| Lending | Share of the excess | **25%** Senior, 75% Junior |
| Lending | Junior minimum | **12%** of the pool, while the pool's yield rate is above Senior's 7% |
| Lending | Cash reserve target | **15%** of the pool |
| Lending | Senior instant withdrawal haircut | **0%** while the reserve is at 75% of target or more, rising to 3% when empty |
| Lending | Queue floor | Queue payments never take the reserve below 25% of its target |
| Lending | Withdrawal fee | **0.20%** of USDC withdrawn |
| Lending | Junior notice | **45** days |
| Lending | Junior pause after bad debt | **30** days, or until the loss is made good |
| Lending | Settlement | Weekly |
| Lending | Adjustment window | **7** days |
| Lending | Treasury bill rate ceiling | **6%** a year |
| Fees | Protocol fee | **20%** of gross premium; 10% while the Insurance Fund is at target |
| Fees | Protocol fee split | **50%** Insurance Fund, 50% treasury |
| Fees | Fee on Treasury bill yield | **0%** |
| Insurance Fund | Target | **2%** of pool value |
| Prices | Oracle | Stork |
| Prices | Relay cadence | Checked every 15 seconds; written on a 0.5% move or every 5 minutes |
| Points | Points per $1 of protocol fee | **100** |
| Points | Collateral side / capital side | **58%** / 42% |
| Points | Loyalty multiplier | **1.00**x, 1.25x after 30 days, 1.50x after 90 days |
| Points | Redemption | **1,000** points = $1; minimum 5,000 |
| Referrals | Bonus | **10%** of a friend's points for 12 months |