FAQ

Why are bids sealed?#

So nobody can wait, read the book and undercut by one tick. Everyone states a limit without seeing anyone else's, and the clearing finds the rate those limits support.

Why does everyone get the same rate?#

With one rate for all, bidding your true limit can't make you pay more or earn less. A lender who asks 4.00% in an auction that clears at 6.25% earns 6.25%.

Can I cancel or change an order?#

Not after committing. You can choose not to reveal: the order is refunded after the reveal window, and you lose only the bond, 0.5% of the order and at least 1 USDC.

Can I lend and borrow in the same auction?#

Yes. Each order is separate, with its own nonce, vaults and bond.

What if an auction matches nothing?#

Every order is resolved without a loan: revealed orders get their USDC or collateral and bond back, and unrevealed orders get their funds back without the bond.

Can I repay early?#

Yes, any time. The debt is fixed at clearing, so repaying early owes the same interest as repaying at maturity.

Is there a fee?#

No protocol fee on loans, interest or redemption. You pay Solana rent and network fees, and a bond per order (0.5% of its maximum, at least 1 USDC) that comes back once the order is revealed and resolved. See Bonds and costs.

Which wallets work?#

Any browser wallet that supports Wallet Standard and can sign Solana transactions.

What if the keeper stops?#

Opening, clearing, refunds, expiry and finalizing are permissionless. The app shows Run clearing when an auction is ready, and the CLI sends any of them.

Where can I see past rates?#

The Market page charts every cleared auction, and each auction keeps its book at /app/auction/<n>.