Offerbook is a peer-to-peer lending protocol on Solana where users borrow or lend USDC against onchain collateral. This page covers the fees charged by the protocol at each stage of a loan, the additional Solana account rent costs, and the referral program. Fees are set in the onchain configuration and can be updated by protocol admins. The rates described below are the current defaults.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.
Fee Structure
At loan start — 25% of estimated interest (paid by the borrower)
When a loan is opened (an offer is accepted), the program estimates the total interest for the full loan term. A fee equal to 25% of that estimated interest is taken immediately, paid in USDC by the borrower.How this works in practice:
- 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.
At repayment — 10% of interest (paid by the lender)
When the borrower repays the loan, the borrower pays the full interest to the lender. A fee equal to 10% of the interest is then deducted from the lender’s return.Example: On a 100 USDC loan with 1% interest (1 USDC), the lender receives 0.9 USDC in interest. The remaining 0.1 USDC goes to the protocol.
At collateral transfer — 0.1% of collateral (paid by the lender)
If the loan is not repaid after maturity and the lender claims the collateral, a 0.1% fee is deducted from the collateral before it is transferred to the lender.No fee is charged on collateral transfers involving NFT or RWA collateral.
Effective APR / APY
The interface displays the Effective APR (borrower side) and Effective APY (lender side) in the offer summary. These rates account for platform fees automatically. Effective APR is higher than the offer APR because the 25% upfront fee is added on top of the interest the borrower owes. 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 by the lender. Example: an offer at 5% APY becomes 4.5% Effective APY (5% × 0.9).Interest on Early Repayment
Borrowers can repay at any time before maturity, but the full interest for the agreed loan duration is always owed. There is no partial interest or fee reduction for early repayment.Fee Summary
| Stage | Who pays | Fee | Basis |
|---|---|---|---|
| Loan start | Borrower | 25% | Estimated total interest (USDC) |
| Repayment | Lender (deducted from interest received) | 10% | Interest (USDC) |
| Collateral transfer | Lender (deducted from collateral received) | 0.1% | Collateral value (no fee on NFT/RWA) |
Solana Rent Costs
Using Offerbook requires paying Solana account rent for the onchain accounts created when interacting with the protocol. These costs are paid in SOL and are separate from platform fees.| Account | Approximate cost (SOL) | When |
|---|---|---|
| User account | ~0.00234 SOL | First interaction with Offerbook |
| Escrow account | ~0.00204 SOL | First interaction with Offerbook |
| Token account (per asset) | Variable | First time a specific token is used in your escrow |
| Offer account | ~0.00941 SOL | Each time an offer is created |
A separate token account is required for each different token held in your escrow. The first deposit of a given token costs more (rent for the new token account); subsequent deposits of the same token cost less. Token accounts cannot currently be closed to recover the rent.
Referral Program
Offerbook offers a referral system where protocol fees can be split into referral rewards. The referral system applies at every stage where a fee is charged (loan start, repayment, collateral transfer).Default Fee Split
| Recipient | Share |
|---|---|
| Referred user | 20% of the fee |
| Referrer | 30% of the fee |
| Protocol | 50% of the fee |
How Referrals Work Across a Loan
The referred user benefit goes to the side that is paying or receiving at that moment:| Stage | Referred user benefit goes to |
|---|---|
| Loan start (25% fee) | Borrower |
| Repayment (10% fee) | Lender |
| Collateral transfer (0.1% fee) | Lender |
When Both Sides Are Referred
- If only one side of the loan was referred, that side’s referrer gets the full 30% referrer share.
- If both sides were referred, the 30% referrer share is split equally between the two referrers (15% each).
- The lender receives a $2 rebate (20% referred user share, since the lender is the one receiving at repayment)
- The borrower’s referrer earns $3 (30% referrer share, since only the borrower was referred)
- The protocol retains $5 (50%)