BRING ANY
PAPER ON
THE CHAIN.
The desk measures the pool, writes a ticket, and hands you USDG. Your upside stays yours.
Click any of the telemetry stats indicators on the left to inspect our live collateral registry and network parameters.
HOW THE DESK WORKS
POST
You bring paper or an LP position to the window. The desk takes it into custody and opens a file.
CAGE
The Cage measures the pool behind it and returns a grade. A refusal arrives with the failed line named.
DRAW
The desk writes the ticket and hands you USDG. Price exposure on the paper stays in your book.
TENOR
Your terminal carries a date. Fee flow retires the debt by that date on its own.
THE CAGE
The Cage reads the pool behind the paper and grades what it measures. Paper from pons.family, pools.trade, flap, bankr, or a direct deploy passes one identical set of checks: depth, turnover, and holder spread.
A venue may close after listing; every written ticket runs to its date. Each refusal names the failed line, the measured value, and the threshold, so the next submission starts from a number.
| GRADE | PAPER | MAX LTV | DESKS |
|---|---|---|---|
A | LP position; trading fees belong to you | UP TO 35% | WIRE · FLOAT · LADDER |
B | Spot paper; trading fees accrue to the pool | UP TO 22% | FLOAT · LADDER |
C | Tokenized stock with a price feed | UP TO 65% | FLOAT |
D | Paper on a bonding curve | UP TO 12% | FLOAT |
THREE REPAYMENT DESKS
THE WIRE
The Wire skims trading fees off the collateral position and writes them straight into the debt body. Fees land on both sides of the pair in whatever mix the flow leaves behind, so the desk sells both halves of every skim into USDG.
THE FLOAT
The Float puts a share of each draw into a delta-neutral reserve: a USDG base in a Morpho pool and a hedged segment above it. The segment collects funding and carries zero directional beta.
THE LADDER
The Ladder stands part of the paper as a one-sided order above market. A pass of price through the range sells it into USDG, straight into the debt, and the pool keeps its depth on the way down.
TENOR, A DATE ON THE BOARD
The board carries a date instead of an annual rate. The term comes from measured pool turnover, and the measurement counts the sixth of fees the pool holds back for itself.
Every skim recalculates the date, and the date lives on your terminal between skims.
THE MARGIN DESK
SPLIT THE TICKET
REDEMPTION CERTIFICATE
Holds the debt and the full growth of the paper. The certificate returns the position whole at redemption.
INCOME STRIP
Holds the right to the fee flow until the chosen date. The strip trades on its own, apart from the certificate.
THE HOUSE TOKEN
CONTRACT ADDRESS
The address appears here the moment the launch settles. Until then there is nothing to buy, and anything claiming to be $TIDESB is not.
WHAT THE TOKEN DOES
Locking $TIDESB cuts the fee the desk keeps on every skim. A smaller cut means more of the flow reaches the debt, and the date on your terminal moves closer.
Longer locks earn a deeper discount. The schedule is published before it goes live and lives in the contract, not in a spreadsheet.
The desk fee is denominated in USDG. Part of it retires supply.
TERMS
The token's own pool passes the same Cage checks as any other paper. No exemption on depth, no raised cap.
WORKING THE WINDOW.
Seven tabs, one file per ticket. What each one does, in the order you will meet them.