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Roles

  • Lenders (LPs): Supply assets to Mobius money markets to earn interest.
  • Borrowers (Traders/Strategists): Open Credit Accounts, post collateral (stables, BTC, ETH, yield assets), borrow against it, and trade via Venue Accounts.
  • Executors: Offchain services that bridge onchain intents to external perp venues and confirm results back onchain. Executors never have custody of user funds — they only relay transitions between the hub and venues.

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Lifecycle

  1. Lend: Lenders deposit assets into lending pools and accrue interest from borrower activity.
  2. Open a Credit Account: A borrower opens a Credit Account on the programmable layer that tracks collateral, debt, and risk parameters. The account enforces that all operations maintain a healthy collateral ratio.
  3. Open a Venue Account: Inside the Credit Account, the borrower opens a Venue Account at a trading venue to trade spot, perps, or deposit into vaults.
  4. Bind External Venues: Through the Venue Account Model, borrowers can bind their Credit Account to external perp venues. An onchain driver manages the account lifecycle while an offchain executor bridges actions.
  5. Execute Strategies: Borrowers can run automated strategies (e.g., delta-neutral carry trades) that combine onchain yield with hedged perp positions across venues.
  6. Unified Accounting: Venue Account equity counts as collateral in the Credit Account. The global Health Factor blends onchain balances with venue positions and snapshots.
  7. Rebalance as Needed: Because the programmable layer and trading venue margining are separate by default, borrowers or automated Rebalancers bridge funds between the Credit Account and Venue Account to maintain health.

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Architecture

                   +-----------------------+
                   |     Credit Account    |
                   | (Programmable Layer)  |
                   |                       |
                   |  Collateral + Debt    |
                   |  Health Factor (HF)   |
                   +----------+------------+
                              |
              +---------------+---------------+
              |               |               |
     +--------v------+  +----v-------+  +-----v--------+
     |   DeFi Layer  |  |  Venue Acc |  |  Venues (VAM)  |
     |  (Adapters)   |  | (Trading)  |  |                |
     +---------------+  +------------+  +----------------+
     | - Swap         |  | - Spot     |  | - Native bridge|
     | - Yield Vaults |  | - Perps    |  | - API-based    |
     | - Stake        |  | - Vaults   |  | - ...          |
     +---------------+  +------------+  +-------+--------+
                                                |
                                        +-------v--------+
                                        |   Executors    |
                                        | (Offchain,     |
                                        |  no custody)   |
                                        +----------------+

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Example User Flows

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Flow 1: Credit Account + Perp Trading

  1. User opens a Credit Account, deposits yield-bearing collateral
  2. Borrows stablecoins from the pool
  3. Sends borrowed stablecoins to a perp venue as margin
  4. Opens a leveraged position on the venue
  5. Health factor reflects both onchain collateral and venue position equity

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Flow 2: Delta-Neutral Strategy

  1. User deposits collateral, selects a Mobius leverage multiplier
  2. Mobius borrows stablecoins, swaps into the target asset, deposits into a yield vault
  3. Opens a matching short on a perp venue to hedge price exposure
  4. Result: yield-bearing long + perp short = net delta ~0
  5. User earns the yield spread amplified by leverage, minus borrow cost