Reference
Parameters
Every number the first series fixed at creation. A series is immutable; none of these can change.
Series#
| Parameter | Value | On chain |
|---|---|---|
| Lent asset | USDC, 6 decimals | quote_mint |
| Term | 28 days | term_seconds = 2419200 |
| Cadence | One auction every 7 days | cadence_seconds = 604800 |
| Commit window | 2 days | commit_seconds = 172800 |
| Reveal window | 1 day | reveal_seconds = 86400 |
| Claim window | 1 day | claim_seconds = 86400 |
| Rate tick | 0.25% | tick_bps = 25 |
| Rate range | 0.00% to 15.75%, 64 ticks | — |
| Collateral to open | 250% | initial_margin_bps = 25000 |
| Collateral to keep | 200% | maintenance_margin_bps = 20000 |
| Liquidation discount | 5% | liquidation_discount_bps = 500 |
| Bond per order | 0.5% of the order's maximum, at least 1 USDC | bond = 1000000, the floor |
| Minimum order | 1 USDC | min_order_size = 1000000 |
| Collateral | Wrapped SOL and JitoSOL | collateral_mask = 3 |
Fixed by the program#
| Rule | Value |
|---|---|
| Interest | Simple, 365-day year, on the term in seconds, rounded up per loan to 0.000001 USDC |
| Early repayment | Owes the full term's interest |
| Bond | 0.5% of the order's maximum, rounded up, at least the series' bond |
| Price accounts | Pyth's SOL/USD and USDC/USD push-oracle feed accounts only |
| jitoSOL haircut | 10% below the stake pool value |
| Price age | At most 60 seconds old, at most 5 seconds ahead of the chain clock |
| Price confidence | At most 1% of the price |
| Ticks per auction | 64 |
| Revealed total per side | At most half of u64::MAX atoms |
| Any series | Term at most one year, top rate at most 100% a year |
Reading them live#
The index serves the series exactly as stored on chain:
curl "https://tenor.ink/api/tenor/v1/series"Integer fields come back as decimal strings. See HTTP API.