Markets
Lending now
Each branch is a separate contract with its own collateral, its own debt ceiling and its own Stability Pool. A failure on one branch cannot reach another.
SPDR S&P 500 ETF Trust
$662.20
+0.72% over 24h
Last official print 1h 32m ago · band ±4.0%
The 24/7 price is anchored on a recent official print.
$13.80M left to lend of $28.60M
Invesco QQQ Trust
$376.90
+1.11% over 24h
Last official print 1h 32m ago · band ±4.0%
The 24/7 price is anchored on a recent official print.
$11.60M left to lend of $21.30M
Deployed and dormant
These contracts exist on chain from day one. They cannot be added later, because nothing can be added later. They wake up when the conditions written beside them are measured to be true, and there is no key that can wake them sooner.
Broad-market funds, gold and silver. A fund spreads its own issuer risk, which is why these carry the widest ratios.
Tier 1
80% LTV, liquidated at 115%Opens each of the 2 branches above when all of these hold
Tier 2
75% LTV, liquidated at 120%Opens when all of these hold
One company each. Nothing diversifies a single stock, so its tier is set by how deep its token trades and how far it can fall in a day.
Tier 1
80% LTV, liquidated at 115%Opens each of the 6 branches above when all of these hold
Tier 2
75% LTV, liquidated at 120%Opens each of the 6 branches above when all of these hold
Tier 3
65% LTV, liquidated at 130%Opens each of the 3 branches above when all of these hold
Tiers
A tier is a risk budget, fixed at deployment. Moving an asset between tiers is not possible; a new tier would be a new deployment.
| Tier | Ratio to borrow | Max LTV | Liquidation threshold | Rate floor | Debt ceiling | Availability |
|---|---|---|---|---|---|---|
| Tier 1, the broad-market and gold funds and the six mega caps | 125.0% | 80.0% | 115.0% | 1.5% | $3.00M | Day 1 (SPY and QQQ) |
| Tier 2, the silver fund and six large caps | 133.3% | 75.0% | 120.0% | 3.0% | $1.50M | M+3, once the Stability Pool holds more than 40% of supply |
| Tier 3, the three most volatile single stocks | 153.8% | 65.0% | 130.0% | 5.0% | $500.0K | Never before 12 months of measured data |
The debt ceiling above is the absolute cap. The binding ceiling is usually lower: it is the smallest of that figure, 4× the depth measured on chain for the token, and 15.0% of its on-chain market capitalisation. A branch can never lend more than the market could absorb if it all had to be sold.
What is not listed
A branch can only exist against a token that exists. Every one of the twenty was checked against Robinhood’s own catalogue of Robinhood Chain tokens before it was written down, and three names that were asked for did not survive the check: HOOD, which Robinhood has not tokenized on its own chain; VOO, where the Vanguard token issued on chain is VTI; and IWM, for which no Russell 2000 token exists at all.
They are not on a roadmap. The contracts are immutable and there is no governance process, so a token that appears later cannot be added to this deployment by anyone, including us. What can happen is the reverse: a branch already here opens when its numbers say so.
What the collateral actually is
The tokens Fyber accepts are not shares. They are collateralized tracker certificates: a claim on an issuer, tracking the price of a share, issued under a prospectus approved in Liechtenstein. You do not own the underlying share and you have no shareholder rights.
If the issuer or its custodian fails, the price feed can keep publishing the price of a healthy share while the token is worth nothing. Fyber cannot detect that. It is a risk you take on the issuer, not on the protocol.
Minimum position: 100 fyUSD. Rates are chosen by each borrower between 1.5% and 100%.