loans.htm - OHMVAULT 95_✕
OHMVAULT How to buy
Ethereum · OHMV loans

Get OHM without selling your OHMV

Lock your OHMV here and borrow OHM against it. Pay the OHM back whenever you like and all your OHMV comes back to you. Got spare OHM instead? Lend it here and earn interest.

1

Lock OHMV

Say you lock 100,000 OHMV. It stays yours, held in the loans contract.

2

Get OHM

You can take up to -- right away and use it for anything: bonding, buying, holding.

3

Pay back, unlock

Return the OHM plus a little interest (-- a year right now) and take your OHMV back. No deadline.

You could borrow--for every 100,000 OHMV you lock
OHM behind each OHMV--locked in the pool forever
Interest you pay--per year, right now
Interest lenders earn--per year, right now
OHM ready to borrow--put in by lenders
Already borrowed--of the lenders' OHM

Borrow or lend

Lock OHMV, get OHM

not connected

Wallet: --

Max fills in the most you can take. Taking less keeps you further from the red line.

85%: the most you can take92%: part of your OHMV gets sold
OHMV locked
--
OHM locked behind it in the pool
--
You'll owe
--
Bar position
--
Red line: OHM behind each OHMV would have to fall to
--
Interest
--

    Your loan

    OHMV you locked
    --
    You owe
    --
    Bar position
    --
    You can still take
    --
    Red line (OHM behind each OHMV)
    --

    Leave the box empty to pay back everything. "Take some OHMV back" returns the amount you type in box 1, as long as your loan stays under 85%. You can pay back any time; there is no deadline.

    Loans in 1 minute. The three steps, borrowing, the red line, and lending.

    How it works

    If you borrow

    You lock OHMV and take OHM. You keep your OHMV position, so if OHMV goes up, it's still yours. Pay the OHM back plus interest, whenever you want, and unlock your OHMV.

    If you lend

    You put in OHM. Borrowers pay interest on what they take, and you get 90% of it. Take your OHM out whenever it isn't lent out at that moment.

    Everyone else

    The other 10% of all interest gets added to the OHM locked in OHMV's pool. So every loan pushes up the OHM behind each OHMV a little.

    Why the limit is lower than the price

    Every OHMV has real OHM behind it, locked in the trading pool. That OHM can never be withdrawn, not even by the team. We call it the backing.

    OHM behind each OHMV = OHM locked in the pool ÷ all OHMVreading…

    Loans are measured against that locked OHM, not the market price. Today the price is -- the backing, so you can borrow far less than your OHMV sells for.

    That's the trade-off, and it protects you. The price can spike and crash in minutes, but the locked OHM only moves when people actually sell into the pool. A price wick on its own can't get your loan into trouble.

    What happens if things go wrong

    • When can my loan get into trouble? If a lot of OHM leaves the pool (heavy selling), or if you leave the loan open long enough for the interest to pile up. Either one moves your bar towards the red line.
    • What happens at the red line (92%)? A bot sells a small part of your locked OHMV, only enough to bring you back to 80%, and uses it to pay off part of your loan. The rest of your OHMV stays locked and stays yours.
    • Can one big trade trigger it? No. The red line is checked against the 10-minute average, so one dump or one sandwich can't push a loan over. The exception is a loan that's already worth less than the OHM behind its collateral: that one can be sold at once.
    • How do I stay safe? Take less than the max, watch your bar, and pay back some OHM or lock more OHMV if it gets close to the red line.
    The exact rules
    Most you can borrow85% of backingMeasured on the lower of the live pool and its ~10-minute average, so a pump can't stretch it.
    Red lineabove 92%Measured on the ~10-minute average, and only while the live pool is within 3% of it.
    Underwaterabove 100% liveA debt bigger than the collateral's live backing can be sold straight away.
    How much is soldback to 80%Only enough OHMV to bring the loan back to 80%, counting the sale's own effect on the pool.
    Who sellsanyoneThe caller earns 1% of the sale. The OHMVAULT keeper checks every loan each minute and sends privately through Flashbots.
    Total cap25% of the poolAll loans together can't exceed a quarter of the OHM in the pool.

    What it costs

    The interest depends on how much of the lenders' OHM is borrowed. When plenty is free, it's cheap (3% a year). If almost all of it is borrowed, the rate climbs fast, up to 60%, so borrowers pay back and lenders can get their OHM out. No one can change these numbers; they're fixed in the contract.

    Lenders' OHM borrowedBorrowers pay per yearLenders earn per year
    0%3%0%
    40%6.5%2.3%
    80%10%7.2%
    90%35%28.4%
    95% (no more borrowing)47.5%40.6%

    Risks

    • Borrowers: if lots of OHM leaves the pool, or you let interest build up, part of your OHMV gets sold. You never owe more than what you locked.
    • Lenders: you can only lose if most of the pool's OHM is sold out in one single trade, faster than any bot can react, and OHMV's price has already fallen to its backing. Even then you'd get back at least 95% of what's left behind the collateral. Any loss would be public on-chain as badDebt.
    • Waiting: if most OHM is borrowed, lenders wait for repayments before taking it out. The high rate exists to bring those repayments in.
    • New contract: no owner and no admin. 13 tests and a 1,500-run fuzz test passed, and a test on a copy of mainnet passed, but there's no audit. Start small.

    Questions

    Why would I borrow instead of selling?

    You keep your OHMV, so you still have it if the price goes up, and you get OHM to use now. Selling gives you OHM but your OHMV is gone, and selling into the pool also costs the 5% fee.

    Do I need to pay back by a date?

    No. There's no deadline. Interest just keeps adding up while the loan is open.

    What if I never pay back?

    The interest grows until your loan reaches the red line, then part of your OHMV is sold to cover it. You can't end up owing more than you locked.

    Do I still get staking rewards on locked OHMV?

    No. Locked OHMV sits in the loans contract, not in staking. If you want both, lock part of your OHMV and keep the rest staked.

    Why can I borrow so little compared with the price?

    Because loans use the OHM locked behind each OHMV, not the price. Your loan is much safer that way: a price crash on its own can't touch it.

    What can I do with the OHM?

    Anything: bond it on OHMVAULT for discounted OHMV, buy more OHMV, or stake it at Olympus. Pay back whenever you like.

    Who sets the rates and limits?

    No one. They're written into the contract (85%, 92%, 80%, 1%, 3% / 10% / 60%, 90/10, 95%, 25%) and nobody can change them.

    Loan book

    opening soon

    WalletActionAmountWhen
    No loans yet.