> For the complete documentation index, see [llms.txt](https://docs.syndromics.xyz/llms.txt). Markdown versions of documentation pages are available by appending `.md` to page URLs; this page is available as [Markdown](https://docs.syndromics.xyz/using-syndromics/borrowers.md). # For borrowers Syndromics gives Stock Token holders liquidity without selling. It is the classic "borrow against your portfolio" product, available 24/7, self-custodied, with a rate you agree to in advance and a term you choose. ## Who can borrow Borrowing requires a `BORROWER` attestation. Borrowers today are verified businesses and professional or high-net-worth individuals in eligible jurisdictions. Retail borrowers are added jurisdiction by jurisdiction as consumer-credit requirements are confirmed. See [Jurisdictions](/compliance/jurisdictions.md). ## What you need * A wallet on Robinhood Chain (Robinhood Wallet or any EVM wallet, including 4337 and 7702 smart accounts). * Stock Tokens to pledge. * A completed eligibility check, which issues an attestation to your wallet. ## Step by step 1. **Connect** your wallet. The dashboard reads your Stock Token balances. 2. **Choose collateral.** For each token you see its tier, current oracle price, session status, the maximum you can borrow at each LTV and an indicative rate from the live book. 3. **Create a request.** Set principal, maximum APR, term (7, 14, 30 or 90 days) and a fill deadline. The dashboard shows the health factor you would start with. 4. **Watch fills stream in.** The relayer matches standing and targeted offers. You see the proposed syndicate, the blended APR and every slice before you commit. 5. **Settle.** One transaction (or one user operation, with approve and borrow batched) escrows your collateral and delivers USDG. The origination fee is deducted from principal. 6. **Manage the loan.** Your dashboard shows debt, accrued interest, health factor, maturity and the oracle status of your collateral. ## While the loan is active | Action | What it does | | ------------- | ------------------------------------------------------------------------------ | | Top up | Add collateral to raise your health factor. | | Partial repay | Reduce principal pro rata across slices; raises health factor. | | Repay in full | Pay principal plus interest; collateral is released in the same transaction. | | Refinance | Open a rising-rate auction before maturity to roll the loan with a fresh term. | Repayment is allowed any time after the minimum interest period of 3 days. ## Alerts Register alert channels to be notified when: * your health factor drops below 1.10, * the underlying market is about to close and your closed-market health factor is near the line, * maturity is approaching, * a refinance auction you opened receives acceptances, * the oracle for your collateral pauses (corporate action) or the market is paused. ## What happens at maturity You have a 24 hour grace window to repay. If you cannot repay and did not refinance, the loan defaults and the collateral goes to a Dutch auction. Any surplus after debt and penalty is returned to you. See [Maturity and refinancing](/protocol/maturity-and-refinancing.md). ## What happens if the price falls If your health factor drops below 1.0, anyone can start a Dutch auction of your collateral. The auction starts above oracle and declines to a floor. Debt and a 3% penalty are paid from proceeds, and the rest comes back to you. On weekends the liquidation LTV is lower (the closed-market haircut) and the auction floor is bounded, so plan buffer accordingly. See [Health factor and liquidation](/protocol/health-and-liquidation.md). ## Fees * Origination: 0.25% of principal. * Refinance: 0.10% of principal. * Liquidation penalty: 3% of debt, only if liquidated. ## Practical guidance * Borrow well under the tier maximum. The gap between max LTV and liquidation LTV is your buffer. * Check the closed-market health factor on Friday, not Monday. * Keep some USDG available for partial repayment; it is often cheaper than topping up with more tokens. * Dividends and splits are handled by the token's own multiplier. You do not need to do anything. --- # Agent Instructions This documentation is published with GitBook. GitBook is the documentation platform designed so that both humans and AI agents can read, navigate, and reason over technical content effectively. Learn more at gitbook.com. ## Querying This Documentation If you need additional information that is not directly available in this page, you can query the documentation dynamically by asking a question. Perform an HTTP GET request on the current page URL with the `ask` query parameter, and the optional `goal` query parameter: ``` GET https://docs.syndromics.xyz/using-syndromics/borrowers.md?ask=&goal= ``` `ask` is the immediate question: it should be specific, self-contained, and written in natural language. `goal` is optional and describes the broader end goal you are ultimately trying to accomplish on behalf of the user. GitBook uses it to tailor the answer towards what is most useful for that goal. The response will contain a direct answer to the question and relevant excerpts and sources from the documentation. Use this mechanism when the answer is not explicitly present in the current page, you need clarification or additional context, or you want to retrieve related documentation sections.