Chumbo
Hey. Welcome in. Nick's at the counter, Pops is at the vault window, Cody's in the back with the books. Don't lean on the glass.
Vaults
- TVL
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- Available
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- Utilization
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- TVL
- —
- Available
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- Utilization
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Overview
Borrow
Lend
USDC on the spot.
Borrow
Nick
Put your tokens down. I price them, you get USDC, minus my origination fee. A week to come back for it.
You send your tokens and receive USDC in the same transaction. How much you get depends on their price at that moment. What you owe is set when the loan opens and it does not grow.
Lend
Pops
The dollars Nick lends are yours. Put USDC in, it gets lent out. You want it back, you ask, and I pay it after a week's notice.
Every loan is paid out of one USDC vault. Your deposit is a share of that vault; the receipt in your wallet is a token called PS-USD, and you never need to touch it. The vault earns a fee on every loan, and collateral from unpaid loans is sold into it. The APR shown is an estimate. A withdrawal is an order with a seven-day notice, paid from the USDC the vault has on hand.
Positions
Cody
I keep the file. Every loan under your name, what's due, what came back, what didn't. Show me a wallet and I'll pull it.
The Positions page lists every loan on your wallet, with what you owe and when it is due. You repay, claim your collateral, and ask for and claim vault withdrawals there.
Positions
Past due
Chumbo
Miss the date, your tokens stay. Nothing owed after that. Nobody calls you. I asked.
There is no interest, and nothing is liquidated before the due date. A loan is repaid in full or not at all, and it cannot be extended. If it is not repaid by the due date, the shop keeps the collateral and the debt is cancelled.
Read the docs—
origination fee
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to repay
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smallest loan