Billions of dollars sit onchain that no one will lend against.
OpenAsset makes them lendable.
A tokenized stock doesn't behave like ETH. An NFT doesn't behave like an ERC-20. An RWA has compliance rules a crypto token doesn't. One hardcoded lending protocol can't serve all of them, so OpenAsset gives each asset a market with the pricing, compliance, and liquidation logic it actually needs.
Non-custodial · isolated markets · one transaction · no approval process
NVDAc
Tokenized stock · Base
65%
max LTV
- Borrow APR
- 12.0%
- Price feed
- Chainlink
- Liquidation
- DEX swap
- Isolation
- Per market
Specimen: a live market's face
Four ways in.
You hold something.
Tokenized stocks, NFTs, RWAs, long-tail tokens. Borrow against what you own instead of selling it, in a market built for that specific asset.
You want yield on your terms.
Supply liquidity to the specific assets and risk parameters you choose. Not a shared pool where someone else's collateral decision becomes your problem.
You're building something.
Launch a lending market around your asset without waiting for a protocol to list it. You set LTV, rate, duration, liquidation rules.
You're extending the system.
Build an adapter for an asset class nobody supports yet, and publish it to the registry. No permission required.
The gatekeeping problem.
Legacy lending platforms whitelist a handful of assets and control every term. Governance queues decide what gets a market. Meanwhile, over $32B in tokenized real-world assets came onchain in under two years, and almost none of it can be used as collateral anywhere.
The reason isn't only that these assets haven't been listed. It's that they don't behave alike. A protocol with one hardcoded set of assumptions about pricing, eligibility, and liquidation can only ever serve the assets those assumptions happen to fit.
OpenAsset is a factory, not a gatekeeper.
From asset to market in one transaction.
Scroll to assemble one. Every step below is a real adapter choice the wizard makes with you.
- 01
Pick the collateral.
Any tokenized asset on-chain: tokens, NFTs, tokenized stocks. The wizard verifies the contract exists before you sign.
- 02
Choose how it's priced.
Flash-loan-resistant TWAP for crypto-native tokens; Chainlink equity feeds for tokenized stocks.
- 03
Set eligibility.
Permissionless by default, or attach a compliance adapter where the asset requires it.
- 04
Choose how it liquidates.
DEX swap, NFT auction, or issuer redemption. Liquidation only ever takes what the debt requires.
- 05
Set the terms. Deploy.
LTV, rate, duration, health factor, circuit breaker: your parameters, enforced on-chain. The factory validates every combination and tells you, in plain language, if something won't work.
Pick a tokenized stock and the wizard pre-selects the full stack: equity price feed, compliance policy, non-transferable positions, DEX liquidation.
Market cell: isolated by construction
Validation matrix passed · live on-chain
Supporting a new asset never means adding another exception to the protocol. It means adding an adapter.
“Any asset” is a promise we can keep.
Most protocols that claim broad asset support mean they'll add your asset to a roadmap. OpenAsset separates one stable, narrowly-scoped lending engine from a pluggable adapter layer: custody, pricing, eligibility, liquidation, position. A new asset class doesn't require re-auditing the protocol. It requires an adapter.
Every adapter shows its verification status and the value it secures. Every new adapter makes every next market easier.
Verification is a review signal, not insurance. Unverified use requires explicit acknowledgment.
What's borrowable now?
Tokenized stocks are this cycle's breakout collateral, borrowable the moment someone sets the terms. The question isn't whether the protocol supports your asset. It's what terms you'd set.
The breakout collateral, borrowable.
AAPLc on Base · Chainlink equity feed · compliance attached · DEX liquidation
Liquidity without a fire-sale.
Auction liquidation · gradual seizure · cure window before final settlement
A market your DAO controls.
Creator-funded liquidity · creator-set terms · isolated risk
Listed by no committee.
TWAP-priced · permissionless · one transaction to live
Built like the risk is real.
Because it is. A lending protocol carries direct financial risk; security and operational discipline are the growth infrastructure. Read the features the way you would read the security legend on a note.
Isolated by construction.
Every market is its own contract. No shared pool, no contagion path. A failure in one market cannot reach another.
Priced against manipulation.
Time-weighted average prices over minutes, not blocks. Circuit breakers pause new loans during extreme volatility while repayments and liquidations continue.
Liquidation without cruelty.
Gradual liquidation seizes only what covers the debt plus a penalty, never the whole position.
Bounded promises.
The core specification is deliberately small and frozen at v2.1. Any change requires a version bump and fresh review, so what you deploy against doesn't shift under you. Adapter verification is a review signal, not a guarantee. Unverified adapters are labeled, and using one requires explicit acknowledgment.
Non-custodial.
Your keys, your collateral, your market. The frontend is a view layer, not a security boundary.
The questions that matter.
What everyone should know before the first market, stated plainly, including the limits.
What is OpenAsset?
Permissionless, non-custodial lending infrastructure. Anyone can launch an isolated lending market for almost any tokenized asset with measurable value, in one transaction, with no approval process.
I hold a tokenized stock / NFT / long-tail token. What can I actually do here?
Find a market that accepts your asset, or create one, then borrow against it without selling. You keep the position and its upside. Loan terms are set by whoever created that market, and shown before you sign.
How is this different from Aave or Compound?
They whitelist assets and fix the terms; OpenAsset is a factory, you pick the asset and set the LTV, rate, duration, and liquidation rules. Most onchain assets have no lending market at all. This is where they get one.
What can be used as collateral?
ERC-20 tokens, ERC-721 and ERC-1155 NFTs, tokenized stocks, and real-world assets, wherever the required infrastructure and compliance conditions exist. Pricing comes from TWAP or Chainlink-feed adapters.
Who sets the market terms?
The market creator. LTV (capped at 95%), APR, duration, health-factor threshold, circuit-breaker thresholds. The protocol enforces exactly what you declare, nothing more.
What does "isolated market" actually protect me from?
Everything stays inside the market. No shared pool, no cross-market contagion. One market's bad debt can never touch another market's liquidity.
How are prices handled?
Uniswap V3 time-weighted average prices for crypto-native tokens, resistant to flash-loan manipulation, and Chainlink equity feeds with staleness windows for tokenized stocks. Circuit breakers pause new borrowing during extreme volatility while repayments and liquidations continue.
What happens in a liquidation?
Loans become liquidatable at expiry, or earlier if a health-factor threshold is set and breached. When a market's liquidation adapter settles asynchronously (NFT auction, issuer redemption), a cure window opens: repay the frozen debt plus a 5% penalty before settlement becomes final. Surplus collateral returns to the borrower on paths that support it.
Does "Verified" mean an adapter is safe?
No. Verified means the audit-governance multisig reviewed the adapter's source, tests, and dependencies and attests it implements its interface correctly and fails closed. It is a bounded review signal, not insurance. Unverified adapters are clearly labeled and require an explicit acknowledgment before use.
Is the protocol audited?
The core lending engine is deliberately narrow, specifically so it can be reviewed thoroughly and then left alone. Its specification is frozen at v2.1, and any change requires a version bump and fresh review. Current audit status and reports are published in the docs.
What does it cost?
0.5% of initial liquidity when a market is created, and a 0.5% origination fee on each loan. Both are enforced on-chain and shown before you sign. No hidden spreads.
Can I create an under-collateralized market (100%+ LTV)?
Not today. The current specification caps LTV at 95%, so every market is over-collateralized. A future flag would require a compliance adapter, a verified oracle, and a capped TVL before under-collateralized lending can exist.
Which chains are supported?
OpenAsset is EVM-first, launching where tokenized assets are already trading, including Base and Robinhood Chain. Because markets are deployed per chain from the same core, adding a chain is a deployment, not a rebuild. The app shows every chain currently live.
Is there a token?
No. There is no OpenAsset token, and market creation needs no governance vote. That's the point.
What market can I create?
That's the only question OpenAsset leaves you. Pick an asset, set the terms, and deploy in one transaction. Or build the adapter that puts a new asset class on the board.