User Guide

Once whitelisted, lenders participate through the platform. This guide covers each step of the lifecycle. For access and onboarding, see Getting Started.

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Bridging BTC to wBTC

Native BTC can be bridged to wBTC on the platform for use in on-platform transactions. The bridge handles conversion without a separate exchange, and bridged wBTC is held in your wallet, ready to fund a commitment.

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Discovering programs

Whitelisted lenders browse open programs. Each program lists its financed fleet, capital target, collateral composition, hedge mandate, tenor, repayment structure, and indicative pricing.

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Reviewing program details

Before committing, review the program’s underwriting summary: fleet economics and breakeven, collateral coverage and LTV, the hedge structure, and the repayment schedule. Every fleet is verified at the source and stress-tested across thousands of BTC price paths.

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Submitting a commitment

Submit a commitment for the amount and terms you want. Commitments count toward the program’s capital target and are finalized once the borrower accepts and the target, or an acceptable threshold, is reached.

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Funding a commitment

On activation, fund your accepted commitment in BTC. Capital is deployed to the borrower under executed loan documentation, with your first-lien rights over collateral, controlled receipts, and hedge proceeds in place.

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Monitoring active investments

Track your position in real time: outstanding principal, scheduled and received distributions, collateral coverage, hedge status, and fleet production. Programs are monitored continuously through API integration with the borrower’s mining infrastructure.

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Receiving distributions

Principal and interest are distributed in BTC through the controlled program structure, drawn from controlled mining receipts and, where applicable, realized hedge support. Distributions settle on chain, so every transfer is verifiable.