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Offerbook is a peer-to-peer lending protocol on Solana. Users borrow or lend USDC or USDT against onchain collateral (the asset locked by the borrower for the duration of the loan). Loan duration is set by the offer creator (1 to 30 days), with no price-based liquidations and no oracles. This FAQ covers the most common questions.

Assets

Any Solana asset (verified tokens on Jupiter, RWAs such as xStocks, NFTs from whitelisted collections) can be used as collateral. The collateral you choose directly affects how attractive your offer is.
USDC or USDT, two dollar-pegged stablecoins. Offers and intents are created in USDC only. USDT loans come from the USDT offers already listed: as a borrower you can take them, for example by choosing USDT for the amount to borrow on the Borrow page, and as a lender you can fund USDT borrow offers from USDT in your escrow.

Offers

Both borrowers and lenders can create offers through a step-by-step flow: choose a side (borrow or lend), define the collateral asset and amount, USDC amount, LTV (Loan-to-Value, the ratio between borrowed USDC and collateral value), APR (Annual Percentage Rate, for borrowers) or APY (Annual Percentage Yield, for lenders), loan duration, expiration, and partial fill preferences. The offer is then published in the offerbook.Lenders: Make sure your escrow wallet has sufficient USDC before publishing. Offers without enough balance will not be visible to other users.
No. To change the terms of an offer, you need to remove it and create a new one. However, once an offer expires, you can renew it directly from Dashboard > Offers without recreating it (with the option to adjust the LTV before renewing).
Yes. An offer can be removed at any time before it is accepted. No fees are charged.
Offers expire after 1 to 7 days, set by the offer creator (borrower or lender) at creation (the Create Offer flow offers 1, 3 and 7-day presets).This is separate from the loan duration: the loan countdown only starts when an offer is accepted, not when it is published.
It depends on the offer creator’s settings. When creating an offer, the creator can enable or disable partial fill, and set a Minimum Fill Amount (in USD). If partial fill is enabled, you can accept any amount equal to or greater than the Minimum Fill Amount. If disabled, the offer can only be filled in full.When an offer is partially filled, protocol fees apply to the filled portion only, and the remaining amount stays available to other counterparties until the offer expires.Partial fill is not available for offers using NFT collateral.
An offer must lend or borrow at least $10. When partial fill is enabled, the Minimum Fill Amount you set must be at least $1 and less than half the offer. There is no fixed maximum.
No. Users can have multiple offers active at the same time.
A counter offer is a proposal to modify the terms of an existing open offer before accepting it. From the offer, click Counter and adjust the LTV, rate (APY), duration, expiration, or partial-fill rule. The original offer creator can then accept your counter (starting the loan at those terms) or ignore it. Counter offers do not lock any funds until accepted. See Counter Offers for details.
Yes. NFTs from whitelisted collections can be used as collateral. Offers using NFT collateral are per-item: each offer targets one specific NFT. The exception is PFP collections with a floor price, where lend offers can be collection offers: any qualifying NFT from the collection can be pledged.Partial fill is not available for NFT collateral, since an NFT cannot be partially transferred. For NFT collateral with a known floor price, the LTV slider uses the floor price as the reference collateral value.

Intents

An intent is a free, off-chain advertisement of the lending or borrowing terms you want. It locks no funds and cannot be filled directly. Offerbook matches it against live onchain offers and surfaces the matches in your dashboard. See Intents.
No. Posting, editing and cancelling an intent only require a wallet signature. There is no transaction, no gas, no account rent and no protocol fee, and your funds stay in your wallet. For large intents, around $100,000 in value or more, Offerbook checks that your wallet and escrow balances hold the relevant asset before accepting the intent.
Create a regular onchain offer with the same token pair and terms close to the advertised ones: APY and LTV (Loan-to-Value) within 10%, duration within one day. Your offer then surfaces automatically in the intent creator’s dashboard, and they can fill it through the standard flow.
The loan terms you advertise can run from 1 to 30 days, the same range as offers. The intent itself stays active until you cancel it or its expiration lapses: 90 days after posting on the Post intents page, or the expiration you choose, up to 90 days, when you post it from the Borrow page or from the Ask for a Loan or Offer a Loan page.

Loans

A loan starts when an offer is accepted. Once matched, the collateral is locked onchain via a smart contract (a PDA, or Program Derived Address, which is a program-owned account on Solana with no private key) and the USDC is transferred. All loan terms are fixed and immutable from that point. The loan duration begins at this moment.
Loan duration is set by the offer creator (borrower or lender) and can range from 1 to 30 days. The interface offers presets depending on the flow (such as 3D, 7D, 30D or 7d, 14d, 30d). The countdown starts when the offer is accepted, not when it is published. Once the loan starts, the duration cannot be changed.
Offer expiration is how long the offer stays visible in the offerbook (1 to 7 days, set at creation). Loan duration is how long the loan lasts once the offer is accepted (1 to 30 days). These are two separate timers.
Yes, at any time before maturity, in full or in part. With Pay down part, you repay some of the principal now and the loan keeps running to the same deadline: token collateral comes back in proportion to what you pay. A loan backed by an NFT can only be repaid in full, and so can any loan once it is past its deadline. The full interest for the agreed loan duration is still owed whatever you repay early, and the loan must keep a small minimum of principal unless you repay it all. See Repayment.
Only if the lender allowed extensions on the offer you filled. Those carry a ↻ marker next to their duration. If yours is extendable, its row in Dashboard > Positions leads with an Extend button: you pay the interest accrued so far in the current period, with a minimum of 30% of that period’s interest, plus the origination fee for the new period, and the loan runs on for a fresh period at the same rate, with the same collateral. You can extend at any time before the deadline, and the origination fee is charged in full each time. Extensions are manual. See Loan Extensions.
After the loan duration ends, the lender can claim the collateral by signing a transaction. This action triggers the collateral transfer: the collateral is sent directly to the lender (not sold on the market). A 0.1% fee is deducted from the collateral at transfer (no fee on NFT collateral).The collateral transfer is not automatic. It only happens when the lender claims. The borrower can still repay and recover the collateral at any time, as long as the lender has not claimed it.
Do not rely on this window. The lender can claim at any moment after maturity. Always plan to repay before the loan expires.
No price-based liquidation, margin call, or forced closure can occur during the loan. However, the collateral is still exposed to price fluctuations. If its value changes significantly, this affects the outcome at maturity for both sides.
A loan can have one of four statuses:
  • Active: the loan is running, between offer acceptance and maturity.
  • Repaid: the borrower has repaid the loan, the collateral has been returned to their wallet.
  • Expired: the loan has passed maturity without being repaid. The lender can claim the collateral, and the borrower can still repay until they do.
  • Defaulted: the lender has claimed the collateral after maturity. The loan is closed.
The collateral is locked onchain via a smart contract (a PDA, or Program Derived Address, which is a program-owned account on Solana with no private key) for the full duration of the loan. Neither the borrower nor the lender can access it during this period. Paying down part of the loan releases token collateral in proportion; an NFT stays locked until the loan is repaid in full.
The borrower pays the principal plus the full interest for the loan duration. The collateral is returned directly to the borrower’s wallet. The lender receives the USDC (principal + interest, minus the 10% repayment fee) in their escrow wallet. If the borrower pays down part of the principal first, that part reaches the lender’s escrow right away, and the interest arrives in full with the final repayment.
For tokens where yield accrues in the token value itself (such as liquid staking tokens), the collateral value will grow during the loan. For tokens where yield must be actively claimed, the yield may not be accessible while the collateral is locked.

Fees

Offerbook applies fees at three stages:
  1. At loan start: 25% of the estimated total interest is taken immediately (USDC), paid by the borrower.
  2. At repayment: 10% of the interest is deducted from the lender’s return.
  3. At collateral transfer: If the borrower does not repay and the lender claims the collateral, 0.1% is deducted from the collateral (no fee on NFT collateral).
Extending a loan charges the same two fees as a new loan: 25% of the new period’s full interest, paid by the borrower upfront each time, and 10% of the interest settled for the closing period, deducted from the lender’s return. See Extension fees.
The borrower pays the fee at loan start (25% of estimated interest). The lender pays the fee at repayment (10% deducted from interest received) and at collateral transfer (0.1% deducted from collateral received).
The Effective APR (borrower) and Effective APY (lender) account for platform fees. Borrowing flows show the all-in APR directly, fee included, and the lend offer summary shows the Effective APY. See How rates appear in the interface.
  • Effective APR is higher than the offer APR because the 25% upfront fee is added on top of the interest. Example: an offer at 30% APR becomes 37.5% Effective APR (30% × 1.25).
  • Effective APY is lower than the offer APY because the 10% fee is deducted from the interest received. Example: an offer at 5% APY becomes 4.5% Effective APY (5% × 0.9).
If a lender fills a borrow offer, the borrower receives the USDC amount minus the fee. If a borrower fills a lend offer, the borrower pays the fee right after receiving the USDC.
No. The full interest for the agreed loan duration is always owed, whether you repay early, in full or in part.
Yes, two other types. Offerbook has three cost types in total:
  1. Network fees: Solana gas, around 0.000005 SOL per signature. Never refunded.
  2. Account rent: a refundable deposit Solana requires for each new account. Most of it comes back when the account is closed.
  3. Protocol fees: Offerbook’s cut in USDC (see Fees & Costs). Never refunded.
Rule of thumb: fees are gone, rent is a deposit (most of it is returned when the account is closed). The full rent table by account type is in Fees & Costs → Account Rent.
Offerbook offers a referral system that applies at every stage where a fee is charged. By default, each fee is split:
  • Referred user: 20% of the fee
  • Referrer: 30% of the fee
  • Protocol: 50% of the fee
The referred-user share is always credited to whoever is paying the fee at that stage, and the 30% share goes to that user’s referrer: the borrower at loan start, the lender at repayment and collateral transfer. See Affiliate & Referrals for the full program.
Yes. Fees are set in the onchain configuration and can be updated by protocol admins. The rates described in Fees & Costs are the current defaults.

Risks

If you do not repay before the end of the loan duration, the lender can claim your entire collateral at any moment. While you can technically still repay until the lender claims, do not rely on this window. Repayment timing is your responsibility. The full interest is always owed, even if you repay early.
Collateral value is not monitored during the loan. If the collateral loses significant value before maturity and the borrower does not repay, you receive the collateral token directly (not the USDC or USDT you lent), and may need to sell it at a loss. The higher the LTV (Loan-to-Value, the ratio between borrowed USDC and collateral value), the higher this risk. You must also manually claim the collateral after maturity.
No. Offerbook loans are time-based. Market price movements during the loan do not trigger any liquidation or margin call. After maturity, if the borrower has not repaid, the lender can claim the collateral by signing a transaction. This is a direct transfer, not a sale on the market.
Yes. Offerbook has been audited by Cantina and Guardian. The reports: Cantina Audit (May 21, 2026) and Guardian Audit (July 31, 2026).

Escrow Wallet

A dedicated wallet, separate from your main Solana wallet, used to hold funds while interacting with Offerbook. Each user has one escrow wallet. All funds transit through the escrow when creating or accepting offers.For lenders, the escrow is visible in the interface. For borrowers, it is used in the background and is not visible.
An offer cannot be created without the USDC backing it, but you do not need to deposit beforehand: the required USDC is deposited from your wallet into the escrow as part of offer creation.
Yes. Lenders can create multiple lend offers from the same USDC balance, and all of them are visible at the same time. When one offer is accepted and the USDC leaves the escrow, any remaining offers that are no longer covered by the balance are hidden automatically. They appear under Underfunded in the Offers tab of your Dashboard, where Top up deposits what they need. When you create or fill an offer, Offerbook only draws on the part of your escrow that your other open offers do not already need, so they stay backed.
Yes. You can withdraw USDC or USDT at any time. If withdrawing makes your balance insufficient to cover active offers, those offers are automatically hidden. If escrow yield is on, the amount you withdraw comes back from Jupiter Lend in the same transaction.
Yes, if you opt in. With Start earning, in the escrow menu or the Escrow tab of your Dashboard, idle USDC and USDT in your escrow move into Jupiter Lend and earn their supply rate, which varies. Offerbook takes no fee on this yield. Your offers stay funded: when one fills or you withdraw, the amount needed comes back in the same transaction. Each currency needs its own Jupiter Lend account, created once with a small SOL rent paid from your wallet. Stop earning brings everything back to your escrow; the Jupiter Lend account stays open and its rent is not refunded. See Earn yield on idle escrow.
When a borrower repays a loan, the USDC (principal + interest, minus the 10% fee) returns to the lender’s escrow. It can be reused for new offers without withdrawing to your wallet first.
For borrowers, the escrow is invisible. Collateral transits through the escrow automatically in a single transaction when creating or accepting an offer. When the borrower repays, collateral is returned directly to their wallet.
Depositing an asset into your escrow requires funding a Solana account the first time you deposit a given asset: about 0.002 SOL for accounts opened before September 2026, and less for newer ones, as Solana is lowering this deposit in steps. This rent is a deposit rather than a fee, but it is not refunded for now: the escrow account stays open after you withdraw the asset. An update to close emptied escrow accounts and return the rent is expected.A separate escrow account is required for each distinct asset, so borrowers typically open more of them over time than lenders, who generally only need a USDC account.See Fees & Costs → Account Rent for the other account types.

Notifications & Settings

Open the Settings page (gear icon in the navigation header), then go to the General tab and connect a notification channel: Telegram or Email. Connecting a channel requires signing a message to prove you own the wallet.You can set your preferences in the Notifications tab before connecting any channel, and a verified Email is enough on its own: Telegram is not required. Toggle individual notification types on or off (Offer accepted, Counter offer received, Loan due soon, etc.). See Settings & Notifications for the full list.
Hardware wallets (Ledger and others) cannot sign arbitrary messages. To sign in to Settings and connect a notification channel with a hardware wallet, turn on Using a hardware wallet (Ledger)? on the Settings sign-in screen; once signed in, the same option is I’m using a hardware wallet in the General tab. Authentication then uses a signed transaction instead of a signed message.
Yes. Turn on Privacy mode in Settings → General to mask your portfolio totals, PnL and balances on the device you are using. Market data stays visible. See Settings & Notifications.
Auto top-up is the mechanism that automatically deposits the required funds from your main wallet into your escrow when you create an offer: collateral for a borrow offer, USDC for a lend offer. There is no setting for it. When you create a lend offer, you can choose to reuse your escrow balance instead of depositing. When you fill an offer, only the missing amount is taken from your wallet.

Chat

Click the floating green button in the bottom-right corner of the interface and choose Messages. The first time you open Chat, approve the wallet signature to authenticate. You can then join public Channels (currently just General) or send a Direct message to another user by username or wallet address. See Chat for the full overview.
Hardware wallets cannot sign arbitrary messages. On the Chat connect screen, turn on the Ledger toggle before clicking Connect to chat: sign-in then uses a memo transaction instead of a message. If you leave it off and the message signature fails, the app offers the transaction sign-in. Approve the empty memo transaction in your wallet to complete sign-in. Your wallet needs a small SOL balance to pay the network fee.
From any conversation (channel or DM), click the + button on the left of the message input and choose Send an offer. A list of your open offers appears; select the one you want to share. The recipient sees a preview card with the offer terms (principal, collateral, APY, duration, LTV) and can open the full offer with one click.