🔢Protocol Parameters
The single source of truth for every protocol number
This page is the authoritative reference for all Fixed-Rate Lending Protocol parameters. Other pages link here instead of restating values. Last verified: 2026-07-16 (liquidation configuration, Base Price values, Mark Price minimum volume, and the supported asset list confirmed with the engineering team against production; remaining values match the contracts repository).
Parameters may change through protocol governance. For integrations, always confirm critical values on-chain — addresses in Contracts & Security.
Trading fees
Taker fee (volume that executes immediately)
1.00% p.a., prorated by duration
0.25% for 3 months, 0.50% for 6 months, …
Maker fee (volume that rests on the book)
0%
A limit order pays the taker fee on any portion that crosses and fills immediately
Itayose (pre-open) fill
0%
Waived for orders matched at market opening
Auto-Roll fee
Same as taker fee (0.25% per 3-month roll)
Charged in Future Value at each quarterly roll
Collateral & liquidation
Liquidation threshold
LTV above 80% (getCoverage() > 8000)
Position becomes liquidatable
Liquidation amount
50% of outstanding debt
While LTV is between the liquidation and full-liquidation thresholds; targets ~70% post-liquidation LTV
Full liquidation threshold
≈ LTV 85% (fullLiquidationThresholdRate = 11765)
Past this point, 100% of the outstanding debt is liquidated in a single call. Protocol-wide setting — identical across networks and currencies (production value confirmed 2026-07-16; on-chain getter: TokenVault.getLiquidationConfiguration())
Liquidation fee (total)
7% of liquidated value
Slashed from borrower's collateral
— Liquidator share
5%
Paid to the liquidator
— Protocol reserve share
2%
Sent to the Reserve Fund
ZC bond haircut (same currency)
20%
ZC bonds count for up to 80% of PV
ZC bond haircut (cross currency)
100%
Cross-currency ZC collateral not accepted
Circuit breaker (per block)
Max downward move
5% below MA of last 5 reliable block prices
Max upward move
10% above MA of last 3 reliable block prices
Minimum downward allowance
2.00 (absolute price)
Minimum upward allowance
7.00 (absolute price)
Market structure
Order books per currency
8 active + 1 inactive (pre-open) — standard full set; some markets run fewer maturities
Maturity cycle
Quarterly — last Friday of Mar / Jun / Sep / Dec
Longest tenor
2 years
Itayose pre-open period
7 days; order book frozen 1 hour before opening
Bond par value
100
Maximum order price
100.00 (no negative yields)
Price precision
2 decimal places
Mark Price minimum volume
100 USD equivalent per block
Minimum collateral base price (by yield category)
Interpolated linearly by time to maturity — see Base Price Adjustment.
A
0–3%
96.00
93.00
B
3–5%
96.00
91.00
C
5–7.5%
96.00
89.00
D
7.5–10%
96.00
87.00
E
10–15%
96.00
84.00
F
15%+
96.00
81.00
Current category assignment (reviewed quarterly; production values confirmed 2026-07-16): BTC — A · ETH — B · JPYC — B · USDC — C · USDFC — C · FIL / axlFIL — F
Supported assets by network
Ethereum
WBTC, ETH, USDC, axlFIL, JPYC
WBTC, ETH, USDC, JPYC, uMINT
Arbitrum
WBTC, ETH, USDC
WBTC, ETH, USDC
Filecoin (FVM)
FIL, USDFC
FIL, iFIL, wpFIL, USDFC
Asset availability last confirmed with the team on 2026-07-16 (JPYC lending markets: Ethereum only; wpFIL collateral: Filecoin only; uMINT/RWA collateral: Ethereum only). The live list can be read per network from CurrencyController.getCurrencies().
Avalanche support is deprecated. Polygon zkEVM has been sunset and is no longer operational. Legacy deployment addresses are retained for historical reference only: Contracts & Security.
Verifying on-chain
Liquidation configuration:
TokenVault.getLiquidationConfiguration()Order fee rate:
LendingMarket.getOrderFeeRate()Circuit breaker range:
LendingMarket.getCircuitBreakerLimitRange()Coverage of any account:
TokenVault.getCoverage(address)
Last updated