Deposit collateral
Choose a supported Stock Token and deposit it into its own collateral position.
Onchain liquidity.Backed by the markets.
Borrow nUSD against tokenized stocks and ETFs
while keeping your market exposure.
Your markets.
One borrowing platform.
One borrowing platform.
SPYNVDASPCXGLDMETAGOOGLAAPLQQQTSLA
The protocol, at a glance.
Understand the numbersPROTOCOL STATS
DEMOProtocol TVL$15,0009 collateral markets
nUSD outstanding7,500Currently minted, less burns
Protocol collateral ratio200%Total collateral value / total debt
Staking yieldComing soonNo live APR or reward stream
PROTOCOL
- Total nUSD debt
- 7,500 nUSD
- Collateral markets
- 9
- Debt ceiling
- 1,000,000 nUSD
- Minimum collateral ratios
- 145–200%
- Liquidation thresholds
- 120–150%
- Borrowing interest · current MVP
- 0% / year
STAKE & EARN COMING SOON
- Staking TVL
- —
- nUSD staked
- —
- Rewards streamed / day
- —
- Rewards paid to users, all time
- —
- User share of pool rewards · planned
- 100%
- Protocol staking fees · planned
- 0%
01 / THE MECHANICSKeep the position.
Keep the position.
Access the liquidity.
A separate position for each asset. One shared nUSD balance. Everything you need to manage your borrowing in one place.
Read the documentationBorrow nUSD
Choose how much to borrow within your asset’s limits. Add more collateral for a larger buffer.
Manage your position
Track your health, repay nUSD, and withdraw available collateral from the dashboard.
02 / COLLATERALFamiliar assets.
Familiar assets.
Individual limits.
Nine assets approved for the MVP.
Stocks, equity ETFs, and gold exposure.
145–200%Minimum collateral ratios
120–150%Liquidation thresholds
5%Bonus to liquidators
0%Protocol liquidation fee
| Asset | Exposure | Minimum collateral | Liquidation at |
|---|---|---|---|
| SPY | S&P 500 ETF | 145% | 120% |
| NVDA | NVIDIA | 195% | 150% |
| SPCX | SpaceX | 200% | 150% |
| GLD | Gold ETF | 150% | 120% |
| META | Meta | 170% | 150% |
| GOOGL | Alphabet | 165% | 150% |
| AAPL | Apple | 170% | 150% |
| QQQ | Nasdaq-100 ETF | 150% | 120% |
| TSLA | Tesla | 200% | 150% |
Approved MVP parameters. Available in demo and mock testnet.
Full market detailsWhat can I borrow against?
Choose from nine supported Robinhood Stock Tokens spanning stocks, equity ETFs, and gold exposure. Each asset has its own collateral position, minimum ratio, and borrowing limit. Stock Tokens provide economic exposure; they are not direct ownership of the underlying shares.
Do I keep my market exposure?
Your deposited tokens remain collateral while you borrow nUSD. You retain exposure to their changing value, but collateral can be seized if the position becomes eligible for liquidation.
What happens if my collateral falls in value?
Your collateral ratio falls as the token price declines. At the market’s liquidation threshold, a liquidator can repay debt and receive collateral plus a 5% bonus. You can add collateral or repay debt to improve your position before liquidation.
How does Stake & Earn work?
Stake & Earn is coming soon. The planned model passes all pool rewards to participating users, with no protocol staking fees or share of rewards. Funding and distribution details will be published before launch. No yield is promised.
Can I use real assets today?
Not yet. The website currently offers a simulation and support for configured mock testnet markets. Real-money borrowing remains disabled while canonical token and oracle integrations and production readiness are verified. nUSD is experimental and may trade below $1.
Your markets.
Your next move.
Explore the dashboard with a simulated position.
Borrowing carries risk. Falling collateral prices can trigger liquidation. nUSD is experimental and may trade below $1. Risk disclosures ↗