Key contract features

Term - 1d, …

This is the term of a loan selected by the lender. It can be either Open Deposit (1 day) or a fixed number of days (e.g. 30 days). Initially only Open Deposits will be available.

Current LTV

Current LTV is the total amount of Debt (i.e. Borrowings) as a percentage of Total Assets (including assets that are currently lent out).

Initial LTV

The Initial Loan-To-Value is the initial maximum allowable amount of Debt as a percentage of Total Assets in order to take a new position.

Critical LTV

The Critical Loan-To-Value is the maximum allowable amount of Debt as a percentage of Total Assets in order to maintain an existing position.

If the Current LTV of the Pool exceeds the Critical Loan-To-Value, the protocol will put the Pool into Liquidation State and start the liquidation process.

Reset LTV

The Reset Loan-To-Value is the level of LTV that the pool needs to be brought back down to following a breach of the Maintenance/Critical LTV.

Interest rate

Oxygen uses an on-chain matching protocol to set rates. In other words, when you set up assets to lend or to borrow, you specify whether you want to make a Market Order or a Limit Order. If you choose Market, then the protocol will match your order with the best rate available – lowest interest rate if you are borrowing and highest if you are lending.

The interest rates you see in the Interface are quoted as annual interest rates. That means that for 1 day, the interest rate earned is interest rate / 365. For example, if the interest rate is 5%, then the daily interest rate is 5%/365 = 0.0137%.

The interest rate is set purely by the market based on the settings you used when making the trade (LIMIT or MARKET).

Available assets

This is the total number of assets deposited into a pool that are available for lending where the “Yield On/Off” parameter is turned on.