Offerbook is a permissionless, peer-to-peer money market for any onchain assets on Solana. It allows users to borrow or lend USDC at fixed rates, for a user-defined period (1 to 30 days), using onchain assets as collateral, without price-based liquidations and without relying on price oracles. USDC (the only asset that can be borrowed or lent on Offerbook) is the liquidity exchanged between borrower and lender. Collateral is the onchain asset locked by the borrower for the duration of the loan, and can be any Solana asset (verified tokens on Jupiter, RWAs such as xStocks). Unlike classical lending protocols, Offerbook is built around time-based loans. Risk is managed by duration, not by collateral price fluctuations. Both borrowers and lenders can publish offers with their own terms, expressing their intentions openly in the offerbook. Lend offers are available for 24 hours. Borrow offers are available for 1, 3, or 7 days (set by the borrower). Expired offers can be renewed without recreating them.Documentation Index
Fetch the complete documentation index at: https://docs.jup.ag/llms.txt
Use this file to discover all available pages before exploring further.
In Other Words
Offerbook is best understood as a fixed-term credit market. Every loan has a known duration, a known return, and a known outcome at maturity. For lenders, returns are driven by three variables: collateral quality, loan duration, and APY (Annual Percentage Yield, the annualized return for the lender, fixed for the entire loan duration). For borrowers, it means full control over loan terms and no price-based liquidations.Borrowers can
- Create borrow offers with custom terms
- Accept existing lend offers
- Use any supported onchain asset as collateral
- Repay at any time before maturity
Lenders can
- Create lend offers with custom terms
- Accept existing borrow offers
- Accept offers partially or in full
- Earn fixed yield over a known duration
Partial fill is configurable per offer. The offer creator (borrower or lender) can enable or disable partial fill, and set a Minimum Fill Amount in USD. Partial fill is not available for offers using NFT collateral.
Escrow Wallet
When using Offerbook, all funds transit through a dedicated escrow wallet, separate from your main Solana wallet. Each user has one escrow wallet.For Lenders
The escrow wallet is visible in the interface alongside your main wallet balance. Lenders deposit USDC into the escrow before creating offers. The escrow system allows lenders to create multiple offers using the same USDC balance. All offers are visible at the same time. When one offer is accepted, the USDC leaves the escrow, and any remaining offers that are no longer covered by the balance are hidden automatically. When a borrower repays a loan, the USDC (principal + interest, minus fees) returns to the lender’s escrow and can be reused for new offers without withdrawing first. Funds remain in the escrow until an offer is accepted. You can deposit and withdraw at any time.For Borrowers
The escrow is used in the background but is not visible in the interface. When creating or accepting an offer, your collateral transits through the escrow automatically in a single transaction. When you repay your loan, the collateral is returned directly to your wallet.Why Offerbook?
USDC is the only asset that can be borrowed or lent on Offerbook. This simplifies the experience for both sides: borrowers and lenders only need to choose the collateral asset and the loan terms. Offerbook can be used with any Solana asset as collateral, and is optimized for specific use cases:Fixed-term loans
Simple loan management with predictable terms, duration, and outcomes.
Illiquid assets
High-value assets with low onchain liquidity (such as RWAs) can be used as collateral without price-based liquidation or price manipulation risk.
Advanced DeFi assets
LP positions, PT tokens, and other complex assets can be used as collateral.
Offerbook vs Jupiter Lend
Offerbook and Jupiter Lend are both lending products within the Jupiter ecosystem, but they serve different use cases and operate on different models.Offerbook
| Parameter | Detail |
|---|---|
| Model | Peer-to-peer. Borrowers and lenders publish offers expressing their intentions, and are matched directly through an order book. |
| Rates | Fixed. Set by the user at offer creation and locked for the full loan duration. |
| Loan duration | User-defined (1 to 30 days). Starts when the offer is accepted. |
| If not repaid | After maturity, the lender can manually claim the collateral. The borrower can still repay until the lender claims. No price-based events during the loan. |
| Oracles | None. Prices in the interface are informational only. |
| Collateral monitoring | None during the loan. |
| Borrowable assets | USDC only. |
| Collateral | Any Solana asset (verified tokens, RWAs such as xStocks). |
Jupiter Lend
| Parameter | Detail |
|---|---|
| Model | Pool-based. Lenders supply assets to shared liquidity pools, borrowers draw from those pools. |
| Rates | Variable. Adjusted automatically based on supply and demand. |
| Loan duration | Perpetual. Positions remain active until the user repays or is liquidated. |
| If not repaid | Continuous price-based liquidation. Positions are partially or fully liquidated if collateral value drops below a threshold. |
| Oracles | Yes (Pyth, Chainlink, Redstone). Used for real-time valuation and liquidation triggers. |
| Collateral monitoring | Continuous. Position Health updated in real time. |
| Borrowable assets | Multiple (SOL, USDC, and other supported assets). |
| Collateral | Eligible assets only (SOL, JupSOL, mSOL, JitoSOL, stablecoins, and others per vault). |
Use-Case Example
Borrowing against a high-value onchain asset: A user holds a tokenized onchain asset valued at approximately $10,000, with limited onchain liquidity. Rather than selling the asset, this user wants to access USDC liquidity for a short period. He creates a borrow offer on Offerbook with the following terms:| Parameter | Value |
|---|---|
| Collateral | Onchain asset valued at ~$10,000 |
| Borrowed asset | 8,000 USDC |
| LTV | 80% |
| Loan duration | 3 days |
| Fixed APR | 35% |
If the borrower repays
At maturity, the borrower repays the borrowed amount plus interest:| Item | Amount |
|---|---|
| Interest paid | ~$23 for the 3-day loan |
| Fee at loan start (25% of estimated interest, paid by borrower) | ~$5.75 |
| Fee at repayment (10% of interest, deducted from lender’s return) | ~$2.30 |
| Interest received by the lender | ~$20.70 |
If the borrower does not repay
After maturity, the lender can claim the collateral by signing a transaction. This action triggers the collateral transfer: a 0.1% fee is deducted from the collateral, and the rest is sent to the lender (no fee on NFT/RWA collateral). The borrower can still repay the loan and recover the collateral at any time, as long as the lender has not claimed it yet.Supported Assets
Collateral
- Any Solana asset (verified tokens)
- RWAs (such as xStocks)
- NFTs (coming after launch)
Borrowed / Lent asset
- USDC only
Asset availability may vary depending on integrations and standards.