Aesyx
How the protocol works
Lock it as collateral in a trove, your loan position.
Mint AXD, a dollar-pegged asset on Avalanche.
Mint up to the market’s Max LTV (loan-to-value).
Example: LTV 48%, max 75%
You set your own interest rate. Higher costs more, and sits later in the redemption line.
Anyone can redeem 1 AXD for $1 of collateral, minus a fee.
When AXD trades below $1 by more than the fee, redeeming pays.
The lowest rates are redeemed first, whatever the collateral ratio.
Redeemed AXD leaves circulation, supporting the $1 peg.
Depositors put AXD in the Stability Pool.
If collateral value falls to the liquidation price, the trove is liquidated.
The pool repays the trove's debt, and depositors receive its collateral.
Depositors also earn a share of borrower interest.
Aesyx on Avalanche
Borrow, earn and redeem AXD.
Keep your sAVAX or BTC.b and borrow AXD against it. Aesyx is an optimised fork of Liquity V2 and runs fully on-chain.
Borrowing and Stability Pool deposits carry risk, including liquidation. Read the documentation (opens in a new tab) before you start.