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Bearer

Lend

Borrow against Bitcoin, without wrapping it.

A sealed vault is the collateral. While it's pledged nobody can withdraw from it, the borrower included, so the lender knows what backs the loan is still there.

Checking the lending contract…

  1. 1 · Pledge

    The borrower sends a sealed vault to the lending contract, with how much they want, how much they'll repay and by when.

  2. 2 · Lend

    A lender checks what's inside and pays exactly that amount. It goes straight to the borrower; the term starts.

  3. 3 · Settle

    Repaid in time, the vault goes back to the borrower before the lender is paid. If not, the lender takes it.

Asking for a loan

Fund one and the NEAR goes straight to the borrower.