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This page explains how to create, evaluate, and manage offers on Offerbook. If you’re not yet familiar with the core mechanics (loan lifecycle, collateral transfer, offer expiration), start with Key Concepts. Offerbook works differently from classical lending protocols. Understanding the flow and the trade-offs upfront helps you build the right strategies and avoid common mistakes.

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Escrow Wallet

All funds on Offerbook transit through a dedicated escrow wallet, separate from your main Solana wallet. Each user has one escrow wallet, but it works differently depending on your role.
The escrow wallet is visible in the interface next to your main wallet balance.
  • Deposit USDC manually before creating lend offers.
  • You can create multiple lend offers from the same USDC balance. All of them are visible at the same time.
  • When one offer is accepted, the USDC leaves the escrow. Any remaining offers that are no longer covered by the balance are hidden automatically.
  • When a borrower repays, the USDC (principal + interest, minus fees) returns to your escrow, where it can be reused for new offers without withdrawing to your wallet first.
  • You can deposit and withdraw at any time.
  • When accepting a borrow offer, USDC is transferred to your escrow automatically if needed.
Creating your escrow wallet for the first time requires a small amount of SOL to cover Solana account rent.

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Creating an Offer

Offerbook uses a step-by-step flow to guide you through offer creation. The process is the same for borrowers and lenders, with labels adapted to each side.
1

Choose a side

Select whether you want to Borrow or Lend USDC.
2

Enter the value of the offer

Define the key parameters of the loan:
  • Asset to borrow or lend: USDC (fixed)
  • Collateral asset and amount: Choose from any verified token on Jupiter
  • LTV: Displayed automatically based on the collateral and USDC amounts. Adjusting one updates the other.
3

Set your rate

Define your APR (if borrowing) or APY (if lending).The loan duration (3 days) is fixed. Offer expiration is fixed at 24 hours for lend offers, and configurable between 1 and 7 days for borrow offers. The 3-day loan duration starts when the offer is accepted, not when it is published.
4

Review and confirm

Review the full summary of your offer and publish it to the offerbook.
Lenders: Make sure your escrow wallet has sufficient USDC before publishing. Offers without sufficient escrow balance will not be visible to other users.

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Offer Parameters in Detail

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Collateral (Locked) Asset and Amount

The collateral asset defines what you lock (as a borrower) or accept as collateral (as a lender). Collateral can be any Solana asset (verified tokens on Jupiter, RWAs such as xStocks). When choosing collateral, consider:
  • Liquidity of the asset (can the lender sell it easily if they receive it?)
  • Volatility over the 3-day loan duration
  • Comfort holding the asset (relevant for lenders who may receive it)
Collateral value is not monitored during the loan. The value at maturity may be significantly different from the value at loan creation.

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LTV (Loan-to-Value)

The defines how much USDC can be borrowed against the collateral (as a borrower) or the risk exposure accepted (as a lender). The borrowed amount and the LTV represent the same relationship, expressed in two different ways. Changing one automatically updates the other. Example: You lock $1,000 worth of collateral.
  • If you set the LTV to 50%, you can borrow 500 USDC.
  • If instead you set the borrowed amount to 700 USDC, the LTV automatically updates to 70%.

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APR / APY

The defines the cost of borrowing (for borrowers). The defines the yield earned (for lenders). APR / APY is:
  • Fully defined by the user at offer creation
  • Market-driven (offers with unrealistic rates may remain unmatched)
  • Fixed for the entire duration of the loan
Because loans are time-based, risk does not change during the loan. The only variable is the value of the collateral at maturity.

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Partial or Full Acceptance

Offers can be accepted partially or in full. Partial acceptance allows a counterparty to take only a portion of the offer.
Partial acceptance is not available for offers using NFT collateral, since an NFT cannot be partially transferred.

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Evaluating an Offer

When viewing or creating an offer, both borrowers and lenders tend to evaluate the same core elements:
ParameterWhat to look at
CollateralAsset quality, liquidity, and volatility
USDC amount / LTVLoan size relative to collateral value
Loan duration3 days (fixed, starts at acceptance)
APR / APYCost or return, relative to all other parameters
Together, these parameters determine an offer’s attractiveness. Matching occurs when the terms align with current market demand. Offers expire after 24 hours (lend) or 1-7 days (borrow). Expired offers can be renewed without recreating them. If market conditions change, you can also create a new offer with updated terms.

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Accepting an Offer

When you accept an offer, the loan starts immediately and the 3-day duration begins.
  • Lenders accepting a borrow offer: USDC is transferred to the escrow automatically if needed, then to the borrower.
  • Borrowers accepting a lend offer: collateral transits through the escrow and is locked onchain automatically.
At this stage, you can add the loan’s maturity date to your calendar using the calendar button provided in the interface.
There are no automated reminders or margin calls on Offerbook. Repayment timing is entirely your responsibility. After maturity, the lender can claim your collateral at any moment.

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Common Mistakes to Avoid

On Offerbook, there are no price-triggered events during the loan. After maturity, if the loan is not repaid, the lender can claim the collateral by signing a transaction. This is not a liquidation (there is no sale on the market); it is a direct transfer.If the collateral loses value during the loan, the lender may receive an asset worth less than the USDC they lent.This trade-off is inherent to time-based lending and should be understood by both sides.
Because there are no margin calls during the loan, borrowers may overlook loan maturity.After maturity, the lender can claim your collateral at any time. While you can technically still repay until the lender claims, do not rely on this window. Use the calendar reminder at offer acceptance to stay on track.
Borrowers can repay at any time before maturity, but the full interest for the agreed 3-day duration is always owed. There is no partial interest or fee reduction for early repayment.
APR / APY is what balances an offer relative to its collateral, LTV, and duration. Offers with rates significantly out of line with current market conditions may remain unmatched.When defining an APR or APY, think about how all parameters work together rather than focusing on a single value.
Collateral value is not monitored during the loan. Using highly volatile assets as collateral increases uncertainty around the collateral’s value at maturity.Collateral characteristics and loan duration should always be considered together.