Supply quote assets like USDC or MDLR to earn interest, or supply gold as collateral to borrow against. Quote asset suppliers earn the interest borrowers pay. Borrowers pay interest, and their collateral stays locked only while it backs a borrow.
Your health factor
—
Liquidation happens below 1.00
Your total supplied
—
Earning and collateral together
Your total borrowed
—
Borrow against collateral
Your net APY
—
Interest earned less interest paid, on your net position
Supply
Quote assets earn interest and are lent out; collateral earns nothing and backs your borrowing.
Asset
LTV
APY
Oracle price
Liquidation price
Your supplied
Your interest earned
Total supplied
Utilization
Action
Reading the pool…
Borrow
Borrow quote assets against your collateral, up to its LTV. Interest accrues every second.
Asset
APY
Oracle price
Your borrowed
Your interest owed
Total borrowed
Available
Action
Test assets
Midas Chain testnet tokens with no value, so Earn can be tried end to end. Each needs a little MIDS for gas.
How Earn works and its risks
Testnet: these are test tokens with no value, and the pool's owner is a testnet key, not yet a timelock.
What earns interest?
USDC and MDLR you supply are lent to borrowers and earn the interest they pay, less a 10% reserve factor kept by the pool. The supply rate is derived from the borrow rate and utilization, so suppliers are never paid more than borrowers are charged.
Is my supplied USDC collateral?
No. A supplied quote asset only earns; it never backs a borrow and is never seized in a liquidation. Collateral is the gold (and later other) assets you supply as collateral.
When can I be liquidated?
When your health factor (collateral at its liquidation threshold divided by your debt) falls below 1. A liquidator then repays up to half your debt (all of it below 0.95, or under $100 of debt) and takes collateral worth the repayment plus a bonus.
How are prices set?
Gold is priced by the median of five independent XAU/USD publishers, per troy ounce for XAU-MOCK and PAXG and per gram for MGLD (an ounce is 31.1034768 grams), and a price older than five minutes is refused. A dollar debt is never valued below one dollar. MIDS is not accepted as collateral: its only price is a thin testnet book.
What happens with bad debt?
If collateral runs out before a debt is repaid, anyone can write the remainder off: it is taken from the pool's own reserves first and only then spread across suppliers of that asset in proportion. It is never left on the books to accrue interest nobody will pay.
Can my funds be frozen?
Withdrawing, repaying and liquidations can never be paused. A guardian can pause new supply or borrowing, and can freeze a price it believes is wrong, which stops borrowing against that asset but never stops a repayment.