Borrow against any Pons token.
Lock a listed token and draw ETH against it. The pool holds your collateral whole and never sells it, and there is no date telling you when to close.
Nothing is borrowed yet, so nothing is accruing.
Three states. None of them is selling.
The token goes in whole
It moves into the pool and stays there intact — not sold, not swapped, not lent on to anyone else.
- The same units come back out when you close
- Priced from its own pool, averaged over a window
- Every market carries its own ceiling and its own cap
Interest is added every second
No payment schedule and no due date. The debt simply grows, and you decide when to touch it.
- Repay any part of it, at any time
- Nothing is due on a date, so nothing can be missed
- Burning $PONS waives the origination fee outright
You end it, or the line does
The position closes the moment the debt reaches zero. Let the collateral fall past the line and anyone may close it for you.
- Liquidation is open to anyone, at a fixed bonus
- A shortfall hits reserves first, then the share price
- Withdraw collateral whenever the rest still covers the debt
Every market the pool will take.
A market is listed only once its price source can value it. Each carries its own ceiling, its own liquidation line and its own cap, so one thin book cannot put the rest at risk.
Someone has to lend it.
Supply ETH and hold a share of the pool that gets heavier as borrowers pay. Nothing to claim, nothing to stake it into — the share simply redeems for more than it cost. Withdraw whenever the pool has room.
Spend it once, and it is gone.
Burning $PONS while you open a position lifts the ceiling or waives the fee — in the same transaction, so the cheaper terms cannot be had without the supply actually falling.