Coming soon. Borrowing & Lending opens to design partners first. Lane: Future. Paths, schemas, and parameters publish at launch.
- Payments run both ways between the same institutions - repayments and interest one way, new draws the other, margin calls whenever prices move.
- Each settles gross, so each needs liquidity in place on the day it falls due.
- The worst days cost the most - the most falls due in volatile markets, when liquidity is scarcest.
What Changes for You
- Settle the book net. A loan book is a netting set: repayments, draws, interest, and margin calls between the same participants clear on one graph, and only each institution’s residual is funded.
- Liquidity freed when it is scarcest. The gap between gross and net is widest in a high-volatility event, when gross settlement demands the most liquidity just as it is scarcest.
- Your terms, unchanged. Each obligation keeps its own due date as its deadline and clears in the run before it; nothing is novated, and every loan stays between the two parties who signed it.
- The residual, handled. Whatever doesn’t net takes a priced backstop from programmable collateral vaults, with an early exit any time before the deadline - so the worst case is what you pay today.
A Day of Flow
Three institutions, one settlement date, USDC on Base:- The Fund owes the Bank 100 - a loan repayment
- The Bank owes the Desk 70 - a draw on a committed credit line
- The Desk owes the Fund 50 - interest on its credit line
How It Enters
Each repayment, draw, or margin call enters as a signed debt from the institution that owes it, or as a batch from the lending market that originated it, which each borrower approves line by line; from there it is the standard integration.Integrate
Onboard, submit obligations, sign once, fund only your net.
Receivables & Trade Finance
Dated obligation chains that mostly cancel.