Money Market Model
Mobius uses pooled lending on the programmable layer. Lenders deposit assets (e.g., USDC) into shared pools and earn interest from borrowers. Non-rehypothecation: Collateral is never lent out. Borrowed funds and collateral stay inside each borrower’s Credit Account, isolating risk and simplifying liquidations for lenders.Pool Architecture
Each lending pool:- Accepts deposits from lenders and mints LP tokens representing their share
- Lends to Credit Accounts via the credit system
- Accrues interest based on utilization (borrowed / total supplied)
- Allows lenders to withdraw at any time (subject to available liquidity)
Markets
Each market specifies its accepted collateral set and a debt token. All lenders and borrowers inside a market share its liquidity. The initial Core Market targets blue-chip collateral (BTC, ETH, and native venue tokens) against USDC debt. Future permissionless markets can be launched with custom collateral/debt pairs to serve specialized strategies.Interest Rate Model
Interest rates are determined by pool utilization:- Low utilization: Rates stay low to attract borrowers
- High utilization: Rates increase to incentivize repayment and attract more lenders
- Kink point: A utilization threshold where the rate curve steepens sharply