Three actions. No surprises.
The protocol exposes exactly three operations. Everything else (front-ends, integrations, vaults) sits outside the core and cannot break what’s inside it.Lend
Deposit into a specific market. Earn borrower interest in real time. Withdraw on demand, subject to utilization.
Borrow
Post collateral into a market. Draw the loan asset against it, up to the market’s LTV. Repay any amount, any time.
Liquidate
Anyone can close an unhealthy position. Bad debt clears in real time. No whitelist. No auction.
Why isolated markets matter
Every market on SatsTerminal Lending is its own ring-fenced contract with its own collateral asset, oracle, and risk parameters. If a market fails (bad oracle, thin liquidation path, anything), only that market’s lenders are exposed. Every other market in the protocol is untouched. Contrast the original DeFi lending design, where every listed asset shares one giant risk surface. A single bad listing can drain the entire protocol. That class of failure does not exist here, by construction.Risk isolation isn’t a feature added on top. It’s the topology of the protocol.
Lenders set the listing standard
There is no listing committee, no governance vote, no team picking winners. Markets are defined by their parameters; lenders vote with their deposits. Capital flows to markets they trust, and away from markets they don’t. That is how a credit market is supposed to work, pricing risk continuously, transparently, and without intermediaries.See the full architecture →
Flashnet settlement, oracle design, liquidation mechanics, and what the core actually contains.