Lend and borrow

Borrowing

Lock SOL or jitoSOL, bid the highest rate you will pay, and take a fixed-rate USDC loan for four weeks.

Place a borrow order#

Field	Meaning
Amount	The most USDC you want. Minimum 1 USDC.
Rate	The highest annual rate you will pay, from 0.00% to 15.75% in 0.25% steps.
Collateral	SOL or jitoSOL, locked at commit. The app wraps SOL into wrapped SOL in the same transaction.
Bond	1 USDC, returned when the order resolves after a reveal.

Collateral at commit#

The rate is sealed, so the program checks collateral against the worst case it could owe: the full amount at the highest rate, 15.75%, for the whole term, at 250%.

Text

required value = 2.5 × (amount + amount × 15.75% × 28 / 365)
               ≈ 2.5302 × amount

To bid for up to 10,000 USDC you need collateral worth at least 25,302.05 USDC at the conservative price, about 169 SOL with SOL at $150. The ticket shows this minimum and the most your holdings support. How collateral is valued is on Prices and oracles.

How a borrow order fills#

Borrowers fill from the highest rate downward. Orders above the marginal rate fill completely, orders at it share pro rata, and orders below it don't fill. Every filled borrower pays the clearing rate.

Take the loan#

After clearing, the claim window is open for one day. Choose Take the loan. The program:

checks collateral is worth 250% of the actual debt at fresh prices,
sends the filled USDC and the bond to your wallet,
records the debt: principal plus the full term's interest at the clearing rate.

If nothing filled, the button reads Collect and returns collateral and bond.

While the loan is open#

Action	When	Needs prices
Add collateral	Any time	No
Repay	Any time until the loan is closed	No
Be liquidated	Below 200%, or any time after maturity	Yes

Repaying owes the whole recorded debt, whether you repay on day one or on the last day. Collateral comes back in the same transaction as wrapped SOL or jitoSOL; the wallet menu has Unwrap.

Borrowed	Rate	Debt for 28 days
10,000 USDC	6.25%	10,047.945206 USDC

Portfolio shows each loan's ratio on a gauge with the 200% line, the debt, and the time left.

Maturity#

Maturity is 28 days after the claim window closes. At maturity every unpaid loan becomes liquidatable whatever its ratio. Until someone liquidates it, you can still repay it.

No automatic rollover#

A loan does not roll into the next auction. To keep borrowing, commit to a later auction and repay this loan with the new one. An auction pays out its loans three to four days after it opens, so choose one that clears before your maturity.