Collateral
Borrow
A Vernier is a plain ERC-20, so any lending market can take it. Whether one should is a different question, and this page is the honest version of the answer.
What helps
- ✓Liquidating in kind. A Vernier's in-kind claim needs no price, so a liquidator taking the underlying is exposed to the market rather than to an observation.
- ✓Thresholds set from the pool's own depth rather than from a round number.
- ✓Publishing the observation next to the number, which nobody in this category does.
What does not
- ×A staleness check. A pool price is never stale — it is always exactly current and always exactly wrong for any size but zero.
- ×A spot read at liquidation time. That is the one moment the pool is most likely to have just been traded through.
- ×Averaging several pools that arbitrage against each other. The average of two correlated errors is a correlated error.
Nothing in this repository lends anything. There is no borrow market, no interest-rate model and no liquidation engine — see the state table. This page exists because the category's borrow page always exists, and always says the collateral is liquid without saying who has to price it.