Orders

Last updated 23 days ago

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Orders

Debita works in an orderbook style where users create their borrow and lend orders. If the parameters can be matched, a loan is created.

Both lenders and borrowers need to create orders with their custom parameters, although it is possible to mirror other live orders as well as consulting the latest matched parameters for each asset.

Orders within the system are controlled by specific entities: the owner of the order, the aggregator, or an active loan (applicable only in the scenario of a perpetual lend order). This ensures that only authorised parties can engage with the orders, thereby maintaining the integrity and security of transactions.

The orders specify the acceptable loan conditions set by the owner. These conditions are reviewed by our aggregator and have to be an interval on one side and a fixed amount on the other side in order to make the matching smoother.

Example: Borrowers specify the maximum acceptable APR range (up to x%), while lenders choose a fixed APR.

The aggregator holds the responsibility of fulfilling the orders. This means that it is the key player in executing and processing the orders to completion.

Orders are flexible; they can be edited at any time, allowing for adjustments and updates as necessary.

To attract more liquidity, lenders can accept multiple collaterals to fulfil their orders. Borrow orders can also use multiple principles. Both are generated via factories.

Key differences between orders:

Lend Orders:

Fixed APR
Minimum and maximum duration
Single principal asset
Accepted collateral assets (single or multiple) (NFT supported)
Maximum LTV
Sole lender option - This order will only be matched by itself, avoiding sharing debt with other lenders (Useful for lenders willing to keep unsplittable collaterals as they get to claim them from defaulted loans, instead of going into auction)
Perpetual option - When the debt is paid back, the whole sum (previously lent amount + interest) goes back into the original order, with the same parameters, serving as a compounding set and forget order.

Borrow Orders:

Maximum interest
Duration
Accepted principle assets (single or multiple)
Single collateral asset (NFT supported)
Fixed LTV

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Last updated 23 days ago

Was this helpful?

Debita works in an orderbook style where users create their borrow and lend orders. If the parameters can be matched, a loan is created.

Both lenders and borrowers need to create orders with their custom parameters, although it is possible to mirror other live orders as well as consulting the latest matched parameters for each asset.

Example: Borrowers specify the maximum acceptable APR range (up to x%), while lenders choose a fixed APR.

The aggregator holds the responsibility of fulfilling the orders. This means that it is the key player in executing and processing the orders to completion.

Orders are flexible; they can be edited at any time, allowing for adjustments and updates as necessary.

To attract more liquidity, lenders can accept multiple collaterals to fulfil their orders. Borrow orders can also use multiple principles. Both are generated via factories.

Key differences between orders:

Lend Orders:

Fixed APR
Minimum and maximum duration
Single principal asset
Accepted collateral assets (single or multiple) (NFT supported)
Maximum LTV
Sole lender option - This order will only be matched by itself, avoiding sharing debt with other lenders (Useful for lenders willing to keep unsplittable collaterals as they get to claim them from defaulted loans, instead of going into auction)
Perpetual option - When the debt is paid back, the whole sum (previously lent amount + interest) goes back into the original order, with the same parameters, serving as a compounding set and forget order.

Borrow Orders:

Maximum interest
Duration
Accepted principle assets (single or multiple)
Single collateral asset (NFT supported)
Fixed LTV