Lending and borrowing on Elysium
Lend and borrow against HYPE, one market at a time.
Each Elyra market pairs one collateral asset with one borrow asset. What happens in one market never reaches your funds in another.
01 / How a market works
One collateral, one loan, one set of rules.
You supply an asset you hold as collateral and borrow another against it. Each market sets its own borrowing limit and interest rate.
You supply
You can borrow up to
72% of collateral value
Share of collateral value borrowed
If your loan grows past 77% of what your collateral is worth, part of the collateral can be sold to repay it. Repaying or adding collateral moves you back to safety.
02 / Markets
Six markets, in three tiers.
Rates move with demand. When more of a market is borrowed, both rates rise to bring in new supply.
| Market | Max LTV | Supplied | Utilization | Supply APY | Borrow APY, variable | |
|---|---|---|---|---|---|---|
| CoreEstablished assets with the deepest liquidity and the highest borrowing limit. | ||||||
| WHYPEUSDCBorrow USDC against WHYPE | 72% | |||||
| USDCWHYPEBorrow WHYPE against USDC | 72% | |||||
| EcosystemPairs with ELYRA on the borrow side. Moderate limits. | ||||||
| USDCELYRABorrow ELYRA against USDC | 54.5% | |||||
| WHYPEELYRABorrow ELYRA against WHYPE | 54.5% | |||||
| FrontierELYRA as collateral. Lower limits because its price can move quickly. | ||||||
| ELYRAUSDCBorrow USDC against ELYRA | 28.5% | |||||
| ELYRAWHYPEBorrow WHYPE against ELYRA | 28.5% | |||||
CoreDeepest liquidity, highest limit.
WHYPEUSDCMax LTV 72%Supplied Borrow USDCWHYPEMax LTV 72%Supplied BorrowEcosystemELYRA on the borrow side.
USDCELYRAMax LTV 54.5%Supplied Borrow WHYPEELYRAMax LTV 54.5%Supplied BorrowFrontierELYRA as collateral, lower limits.
ELYRAUSDCMax LTV 28.5%Supplied Borrow ELYRAWHYPEMax LTV 28.5%Supplied Borrow03 / Your position
Always know where your loan stands.
Health factor compares what your collateral is worth with what you owe. Above 1.5 is comfortable. Below 1.0, part of your collateral can be sold to repay the loan.
Every borrow shows your health factor before and after, and the price at which your collateral is at risk, before you confirm.
04 / Protection
How your funds are kept separate.
Each market stands alone.
A loss in one market cannot reach the collateral or deposits held in another.
Changes are announced first.
Any change to market settings is published in advance, with a waiting period before it takes effect.
Prices are checked before every loan.
If a price is out of date, borrowing in that market pauses until it is refreshed.
What is an isolated market?
Each market pairs one collateral asset with one borrow asset and has its own limits. Your deposit is only exposed to the market you choose, so a loss in one market stays in that market.
What happens if my health factor drops below 1.0?
Part of your debt can be repaid by someone else in exchange for some of your collateral plus a bonus: 7.4% in Core markets, 12.7% in Ecosystem markets and 15% in Frontier markets. Repaying or adding collateral before that point keeps your position safe.
Are the rates fixed?
No. Rates are variable and move with demand. When more of a market is borrowed, both the supply and borrow rates rise to bring in new supply.
Where do testnet assets come from?
Claim WHYPE, USDC and ELYRA from the Elyra faucet. Testnet assets have no real value.
When does mainnet open?
Mainnet opens on Elysium on November 9. Until then, every market is open on testnet.
Mainnet
Opens November 9.
Try every market on testnet today. Assets come from the faucet and have no real value.