# Documentation (/docs)
Welcome to Lendasat's documentation. Choose where you'd like to start:
P2P Loans [#p2p-loans]
Bitcoin-backed peer-to-peer lending. Borrow stablecoins or fiat against your Bitcoin, or earn yields by lending.
***
Other Products [#other-products]
***
Quick Links [#quick-links]
# Getting Started (/docs/p2p-loans/getting-started)
Lendasat is a peer-to-peer lending platform where users can borrow and lend using **Bitcoin as collateral**.
Access liquidity without selling your BTC. Keep your exposure, get cash now.
Earn passive income by funding overcollateralized, Bitcoin-secured loans.
**Lendasat is live!** Sign up now:
* **Borrowers:** [borrower.lendasat.com](https://borrower.lendasat.com/)
* **Lenders:** [lender.lendasat.com](https://lender.lendasat.com)
***
Our Principles [#our-principles]
2-of-3 multisig escrow ensures no single party controls your funds. We never hold your Bitcoin.
All transactions verifiable on-chain. No black boxes.
Lenders compete on rates - better pricing for borrowers.
Your keys, your Bitcoin. Your funds are never at risk from us.
***
Who is Lendasat For? [#who-is-lendasat-for]
Need liquidity without selling your BTC? Borrow against it instead.
Stablecoin or fiat holders looking for passive income on secured loans.
Want decentralized finance benefits without leaving Bitcoin.
Censorship-resistant tools that put you in control.
***
Create Your Account [#create-your-account]
Sign Up [#sign-up]
Visit the borrower or lender portal and create your account.
Set Your Password [#set-your-password]
Your password encrypts all contract and financial interactions - protecting your data even if someone accesses your device.
Save Your Seed Phrase [#save-your-seed-phrase]
A seed phrase is generated automatically for account recovery.
**Store your seed phrase securely.** This is the only way to recover your account. Never share it with anyone.
***
What You Can Do [#what-you-can-do]
* Receive stablecoin or fiat loans
* Secured by your Bitcoin collateral
* Multiple disbursement methods including Virtual Cards
* Earn interest on stablecoins or fiat
* Set your own terms and rates
* Guaranteed yields with Bitcoin-secured protection
***
How It Works [#how-it-works]
**Peer-to-Peer:** Loans come from other users, not Lendasat. We just provide the technology.
| Party | Role |
| ------------- | ---------------------------------- |
| **Borrowers** | Hold Bitcoin, need liquidity |
| **Lenders** | Hold stablecoins/fiat, want yields |
| **Lendasat** | Provides secure infrastructure |
***
Collateral Requirements [#collateral-requirements]
The Bitcoin you need depends on the **LTV (Loan-to-Value)** ratio. Typical ratio is approximately **2:1**.
Example: Borrowing $1,000 [#example-borrowing-1000]
| Item | Amount |
| ----------------------------- | ----------------- |
| Principal | $1,000 |
| Interest (6% APR, 1 year) | $60 |
| Total due | $1,060 |
| Required collateral (50% LTV) | **$2,120 in BTC** |
***
Fees [#fees]
| Fee | Rate | When Charged |
| ------------------- | ------------ | -------------------------------- |
| **Origination Fee** | 1.5% of loan | At repayment or liquidation |
| **Liquidation Fee** | Up to 5% | Only if collateral is liquidated |
| **Renewal Fee** | 0.5% of loan | When extending an existing loan |
| **Blockchain fees** | Variable | Per transaction |
All fees are deducted from your Bitcoin collateral and are transparently disclosed before you confirm any loan. See our **[Fee Schedule](/docs/p2p-loans/concepts/fee-schedule)** for details.
***
Built by Bitcoiners [#built-by-bitcoiners]
Behind Lendasat is a team deeply involved in building on Bitcoin.
| Project | What We Built |
| ------------ | -------------------------------------------------- |
| **10101** | Derivatives market on Bitcoin and Lightning |
| **Ark** | Layer 2 protocol for scalability and accessibility |
| **Lendasat** | P2P lending with Bitcoin collateral |
***
Next Steps [#next-steps]
***
Need Help? [#need-help]
Join our community for support
Common questions answered
# P2P Loans (/docs/p2p-loans)
Bitcoin-backed peer-to-peer lending. Borrow stablecoins or fiat against your Bitcoin, or earn yields by lending.
***
Quick Links [#quick-links]
# Privacy Policy (/docs/lendasat-app/legal/privacy)
**Last Updated: 29.01.2026**
This Privacy Policy describes how Lendasat ("we," "us," or "our") handles data within the Lendasat App. By using the app, you acknowledge that you have read and understood this policy.
Core Philosophy: Privacy by Design [#core-philosophy-privacy-by-design]
The Lendasat App is built on a self-custodial architecture.
* **Your Keys, Your Coins:** Your seed phrase and private keys are stored locally on your device. We never have access to them.
* **No Sensitive Tracking:** We **never** track or store mnemonics, private keys, or personal financial secrets.
* **Minimalism:** We only collect data that is essential for app functionality or required by law.
***
Data Collection & Analytics [#data-collection--analytics]
We use **PostHog**, an open-source product analytics platform, to understand app usage and improve the user experience.
Technical Information Collected: [#technical-information-collected]
* **Usage Data:** Interactions within the app (e.g., feature usage, navigation paths).
* **Technical Metadata:** Device type, operating system version, and app version.
* **Performance Data:** Crash reports and error logs for debugging and stability.
Privacy Protections: [#privacy-protections]
* All data is anonymized where possible.
* Sensitive input fields are automatically masked.
* We do not sell your data to third parties.
***
Legal & Regulatory Compliance [#legal--regulatory-compliance]
To ensure the long-term viability and security of our services, we track and retain data as required by applicable laws and regulators. This includes information necessary for:
* **Fraud Prevention:** Identifying and mitigating malicious activity.
* **Legal Obligations:** Complying with requests from competent authorities and regulatory bodies.
***
Security Measures [#security-measures]
We implement industry-standard security measures to protect your data:
* **Encryption:** All data transmitted is protected by TLS/SSL.
* **Self-Custody:** Since we do not hold your funds, they remain secure even in the unlikely event of a server-side breach.
***
Contact Us [#contact-us]
If you have any questions regarding this Privacy Policy or our data practices, please contact us on [Discord](https://discord.gg/kyxqWFKMCF).
# Borrower API (/docs/p2p-loans/api/borrower)
**Version:** 0.8.11
**Specification:** OAS 3.1
**Base URL:** `https://apiborrow.lendasat.com`
The Lendasat Borrower API allows you to programmatically interact with the platform to:
* Register as a new user
* Manage personal API keys
* Query available loan offers
* Create contract requests
* Manage open contracts
***
Authentication [#authentication]
All API requests require authentication using an API key passed in the request header:
```http
x-api-key: your-api-key-here
```
***
How to Get an API Key as a Regular Borrower [#how-to-get-an-api-key-as-a-regular-borrower]
For the time being, you will need to contact Lendasat support to request an API key.
**Steps:**
1. Register at [https://borrow.lendasat.com](https://borrow.lendasat.com)
2. Email [support@lendasat.com](mailto:support@lendasat.com) to request an API key
3. Use the provided API key in all API requests
***
How to Create Borrower API Accounts [#how-to-create-borrower-api-accounts]
Lendasat partners can create borrower API accounts to integrate Lendasat directly into their own products.
Partner Integration Steps [#partner-integration-steps]
**1. Register as a Partner**
Register as a regular user at [https://borrow.lendasat.com](https://borrow.lendasat.com)
**2. Request Master API Key**
Contact Lendasat support to generate a master API key for your organization (e.g., `las-BTC21`)
**3. Create Borrower API Accounts**
Use your master API key to create new borrower accounts programmatically:
```bash
curl -X POST "https://apiborrow.lendasat.com/api/create-api-account" \
-H "Content-Type: application/json" \
-H "x-api-key: las-BTC21" \
-d '{
"name": "Satoshi Nakamoto",
"email": "satoshi@gmx.com",
"timezone": "America/New_York"
}' | jq .
```
**Response:**
```json
{
"id": "818316da-6cad-41d6-ac82-6a4d1ec91d3b",
"name": "Satoshi Nakamoto",
"email": "satoshi@gmx.com",
"timezone": "America/New_York",
"api_key": "ldst-acc-1d906625-064b-4c61-bb3a-41d497421e3f"
}
```
The returned `api_key` can be used to interact with Lendasat's API as a regular borrower.
***
Example Usage of Borrower API Key [#example-usage-of-borrower-api-key]
Once you have a borrower API key, you can use it to create contract requests:
```bash
curl -X POST "https://apiborrow.lendasat.com/api/contracts" \
-H "Content-Type: application/json" \
-H "x-api-key: ldst-acc-1d906625-064b-4c61-bb3a-41d497421e3f" \
-d '{
"loan_id": "9c89f12b-3f1a-4320-bf68-be3ce0820dd2",
"loan_amount": 100,
"duration_days": 7
}' | jq .
```
***
API Endpoints [#api-endpoints]
The Borrower API provides the following endpoint groups:
Detailed endpoint documentation will be added as individual pages. Check back soon or contact support for the complete API specification.
**Account Management**
* Create API accounts (partner feature)
* Manage API keys
* User registration
**Loan Offers**
* Query available offers
* Filter by amount, duration, and terms
* Get offer details
**Contract Management**
* Create contract requests
* Get contract status
* Manage collateral
* Handle repayments
* Request extensions
**Notifications**
* Webhook configuration
* Event subscriptions
* Margin call alerts
***
Request Format [#request-format]
All POST/PUT requests must use `Content-Type: application/json`.
**Example Request:**
```json
{
"loan_id": "9c89f12b-3f1a-4320-bf68-be3ce0820dd2",
"loan_amount": 100,
"duration_days": 7,
"collateral_address": "bc1q...",
"repayment_address": "0x742d35Cc6634C0532925a3b844Bc9e7595f0bEb"
}
```
***
Response Format [#response-format]
All responses are returned in JSON format.
**Success Response:**
```json
{
"id": "550e8400-e29b-41d4-a716-446655440000",
"status": "pending",
"loan_amount": 100,
"created_at": "2024-01-15T10:30:00Z"
}
```
**Error Response:**
```json
{
"error": "Invalid loan amount",
"code": "INVALID_AMOUNT",
"details": "Loan amount must be between $10 and $10,000"
}
```
***
Error Handling [#error-handling]
**Common HTTP Status Codes:**
| Code | Description |
| ---- | ---------------------------------- |
| 200 | Success |
| 201 | Created |
| 400 | Bad Request (invalid parameters) |
| 401 | Unauthorized (invalid/missing key) |
| 404 | Not Found |
| 429 | Too Many Requests (rate limited) |
| 500 | Internal Server Error |
***
Best Practices [#best-practices]
1. **Secure API Keys** - Never expose API keys in client-side code or public repositories
2. **Rate Limiting** - Implement exponential backoff for rate limit responses
3. **Idempotency** - Use unique request IDs to prevent duplicate contract creation
4. **Error Handling** - Always check response status codes and handle errors gracefully
5. **Webhook Validation** - Verify webhook signatures to ensure authenticity
***
Support & Resources [#support--resources]
* **Support Email:** [support@lendasat.com](mailto:support@lendasat.com)
* **Platform Docs:** [Borrowing Guide](/docs/p2p-loans/guides/borrowing)
* **Contract Terms:** [Contract Details](/docs/p2p-loans/concepts/contract-terms)
***
Next Steps [#next-steps]
* [Lender API](/docs/p2p-loans/api/lender)
* [Contract State Management](/docs/p2p-loans/concepts/contract-states)
# API Overview (/docs/p2p-loans/api)
The Lendasat P2P Marketplace provides two comprehensive REST APIs that enable programmatic interaction with the platform:
* **Borrower API** - For borrowers to request loans, manage contracts, and handle collateral
* **Lender API** - For lenders to create loan offers, manage lending positions, and track returns
API Versions [#api-versions]
Both APIs follow the OpenAPI 3.1 specification and are currently at version 0.8.11.
**Base URLs:**
* Borrower API: `https://apiborrow.lendasat.com`
* Lender API: `https://apilend.lendasat.com`
Authentication [#authentication]
All API endpoints require authentication via API keys passed in the `x-api-key` header.
```http
x-api-key: your-api-key-here
```
Getting Started [#getting-started]
Choose the API that matches your use case:
* **[Borrower API](/docs/p2p-loans/api/borrower)** - Request loans, manage contracts as a borrower
* **[Lender API](/docs/p2p-loans/api/lender)** - Create offers, manage lending positions
API Features [#api-features]
Both APIs enable you to:
* Register new users programmatically
* Manage API keys and authentication
* Query available loan offers
* Create and manage contracts
* Monitor contract states and events
* Handle repayments and liquidations
Rate Limiting [#rate-limiting]
Rate limits may apply to prevent abuse. Contact Lendasat support for enterprise rate limits or higher quotas.
Support [#support]
For API support, questions, or to request API keys:
* Email: [support@lendasat.com](mailto:support@lendasat.com)
* Documentation: [Lendasat Docs](/docs)
Next Steps [#next-steps]
* [Borrower API](/docs/p2p-loans/api/borrower)
* [Lender API](/docs/p2p-loans/api/lender)
* [Contract Terms](/docs/p2p-loans/concepts/contract-terms)
# Lender API (/docs/p2p-loans/api/lender)
**Version:** 0.8.11
**Specification:** OAS 3.1
**Base URL:** `https://apilend.lendasat.com`
The Lendasat Lender API allows you to programmatically interact with the platform to:
* Register as a new lender
* Manage personal API keys
* Create and manage loan offers
* Monitor lending positions
* Track returns and performance
* Handle contract settlements
***
Authentication [#authentication]
All API requests require authentication using an API key passed in the request header:
```http
x-api-key: your-api-key-here
```
***
How to Get an API Key as a Regular Lender [#how-to-get-an-api-key-as-a-regular-lender]
For the time being, you will need to contact Lendasat support to request an API key.
**Steps:**
1. Register at the Lendasat lending platform
2. Email [support@lendasat.com](mailto:support@lendasat.com) to request an API key
3. Use the provided API key in all API requests
***
How to Create Lender API Accounts [#how-to-create-lender-api-accounts]
Lendasat partners and institutional lenders can create lender API accounts to integrate Lendasat directly into their own products or automated lending strategies.
Partner Integration Steps [#partner-integration-steps]
**1. Register as a Partner**
Register as a regular lender on the Lendasat platform.
**2. Request Master API Key**
Contact Lendasat support to generate a master API key for your organization.
**3. Create Lender API Accounts**
Use your master API key to create new lender accounts programmatically:
```bash
curl -X POST "https://apilend.lendasat.com/api/create-api-account" \
-H "Content-Type: application/json" \
-H "x-api-key: your-master-key" \
-d '{
"name": "Institution Name",
"email": "lender@institution.com",
"timezone": "Europe/London"
}' | jq .
```
**Response:**
```json
{
"id": "918416ea-7cbd-42e7-bc92-7b5e2fd82e4c",
"name": "Institution Name",
"email": "lender@institution.com",
"timezone": "Europe/London",
"api_key": "ldst-lend-2e017736-175c-5d72-cc4b-52f608532g4g"
}
```
The returned `api_key` can be used to interact with Lendasat's Lender API.
***
Example Usage of Lender API Key [#example-usage-of-lender-api-key]
Once you have a lender API key, you can use it to create loan offers:
```bash
curl -X POST "https://apilend.lendasat.com/api/offers" \
-H "Content-Type: application/json" \
-H "x-api-key: ldst-lend-2e017736-175c-5d72-cc4b-52f608532g4g" \
-d '{
"loan_amount": 1000,
"interest_rate": 12.5,
"duration_days": 30,
"min_ltv": 50,
"max_ltv": 70,
"token": "USDC",
"network": "Polygon"
}' | jq .
```
***
API Endpoints [#api-endpoints]
The Lender API provides the following endpoint groups:
Detailed endpoint documentation will be added as individual pages. Check back soon or contact support for the complete API specification.
**Account Management**
* Create API accounts (partner feature)
* Manage API keys
* User registration
**Loan Offers**
* Create new loan offers
* Update existing offers
* Pause/activate offers
* Query offer performance
* Delete offers
**Portfolio Management**
* View active lending positions
* Monitor contract performance
* Track interest earned
* View liquidation events
* Portfolio analytics
**Contract Management**
* Accept contract requests
* Monitor contract status
* Handle repayments
* Manage liquidations
* Track collateral value
**Notifications**
* Webhook configuration
* Event subscriptions
* Repayment alerts
* Liquidation notifications
***
Automated Lending Strategies [#automated-lending-strategies]
The Lender API is designed to support automated lending strategies:
**Strategy Examples:**
* **Conservative:** Low LTV (50-60%), higher interest rates, shorter durations
* **Balanced:** Medium LTV (60-70%), moderate rates, varied durations
* **Aggressive:** Higher LTV (70-80%), competitive rates, longer durations
**Implementation:**
```bash
# Create multiple offers with different risk profiles
curl -X POST "https://apilend.lendasat.com/api/offers/bulk" \
-H "Content-Type: application/json" \
-H "x-api-key: your-api-key" \
-d '{
"offers": [
{"amount": 500, "rate": 15, "duration_days": 7, "max_ltv": 60},
{"amount": 1000, "rate": 12, "duration_days": 14, "max_ltv": 65},
{"amount": 2000, "rate": 10, "duration_days": 30, "max_ltv": 70}
]
}'
```
***
Error Handling [#error-handling]
**Common HTTP Status Codes:**
| Code | Description |
| ---- | ---------------------------------- |
| 200 | Success |
| 201 | Created |
| 400 | Bad Request (invalid parameters) |
| 401 | Unauthorized (invalid/missing key) |
| 404 | Not Found |
| 429 | Too Many Requests (rate limited) |
| 500 | Internal Server Error |
***
Best Practices [#best-practices]
1. **Secure API Keys** - Never expose API keys in client-side code or public repositories
2. **Risk Management** - Set appropriate LTV ratios to minimize liquidation risk
3. **Diversification** - Spread offers across different amounts and durations
4. **Monitor Positions** - Regularly check contract status and collateral values
5. **Webhook Integration** - Use webhooks for real-time notifications
6. **Rate Limiting** - Implement exponential backoff for rate limit responses
***
Support & Resources [#support--resources]
* **Support Email:** [support@lendasat.com](mailto:support@lendasat.com)
* **Platform Docs:** [Lending Guide](/docs/p2p-loans/guides/lending)
* **Contract Terms:** [Contract Details](/docs/p2p-loans/concepts/contract-terms)
***
Next Steps [#next-steps]
* [Borrower API](/docs/p2p-loans/api/borrower)
* [Contract State Management](/docs/p2p-loans/concepts/contract-states)
# Borrowing FAQ (/docs/p2p-loans/faq/borrowing)
When borrowing against my Bitcoin, what currency will I receive in return? [#when-borrowing-against-my-bitcoin-what-currency-will-i-receive-in-return]
When you borrow on Lendasat, you receive stablecoins such as USDC or USDT, depending on the loan offer and the blockchain network selected by the lender. We also allow fiat disbursement and Virtual Card payouts. The currency you receive depends on the loan offer you choose. If you opt for a Virtual Card, you will currently only see offers in USDC on the Polygon network.
On which blockchain network will I receive the principal of my loan? [#on-which-blockchain-network-will-i-receive-the-principal-of-my-loan]
Lendasat is a market-driven platform. This means lenders can create offers on a variety of blockchains. Currently, stablecoin loan disbursement is possible on Ethereum, Polygon, Solana, Starknet, and the Liquid Network. The specific network depends on the loan offer you accept.
How can I choose to have my loan disbursed in stablecoins or on a Virtual Card? [#how-can-i-choose-to-have-my-loan-disbursed-in-stablecoins-or-on-a-virtual-card]
Once logged into your Lendasat account, click "Request a Loan". You'll be asked to choose your payout method. If you select the Virtual Card option, you'll only see offers in USDC on Polygon (this will evolve as we expand support for other networks and coins).
Who do I repay the loan to if I used a Virtual Card? [#who-do-i-repay-the-loan-to-if-i-used-a-virtual-card]
Even if the funds were delivered via a Virtual Card, the repayment always goes directly to the lender who funded your loan. Lendasat and its partners never hold your funds or act as intermediaries in repayment.
How do I repay my loan when taken in the Virtual Card or via Bringin? [#how-do-i-repay-my-loan-when-taken-in-the-virtual-card-or-via-bringin]
Regardless of how the funds were delivered (Virtual Card, Bringin, or on-chain), you must repay your lender in stablecoins, on the same blockchain and in the same asset as initially agreed. Provide the transaction hash as proof. You may use any fiat on-ramp services, or non-KYC ones like Mt Pelerin.
Can I repay my loan in advance? [#can-i-repay-my-loan-in-advance]
Lendasat uses fixed-term contracts, which means the full interest applies whether you repay on day 1 or on the maturity date. Early repayment is possible, but it won't reduce the interest due.
What happens if I do not repay on time? [#what-happens-if-i-do-not-repay-on-time]
If the loan reaches its maturity date and no repayment is made, your Bitcoin collateral will be liquidated. The lender will recover the loan amount plus interest from the collateral. You will lose part or all of your BTC depending on the liquidation value, but you won't owe any extra debt.
How will I receive my collateral back? [#how-will-i-receive-my-collateral-back]
Once you've fully repaid the loan (principal plus interest), your Bitcoin collateral will be automatically returned to the refund address you specified when the contract was created. Make sure you are the true owner of this address.
For privacy reasons, we recommend using an unused address. Most Bitcoin wallets allow you to mark an address as unused, even if it hasn't been used yet.
Can my collateral be liquidated? [#can-my-collateral-be-liquidated]
Yes. Your collateral can be liquidated in 2 cases:
* If your Loan-to-Value (LTV) ratio reaches 90% during the loan
* If you fail to repay the loan on time
On Lendasat, at 90% LTV the lender can start to liquidate the borrower. The lender controls when to trigger the
liquidation after this threshold is reached, and the exact liquidation price depends on when they choose to initiate it.
This means the liquidation price could be higher or lower depending on market conditions at the time the lender
triggers the liquidation.
Please note that if your collateral is liquidated, fees will be deducted from the collateral value. For detailed fee information, see our [Fee Schedule](/docs/p2p-loans/concepts/fee-schedule).
In both cases, the system ensures the lender is reimbursed.
Can I add collateral to avoid being liquidated? [#can-i-add-collateral-to-avoid-being-liquidated]
Yes. At any time during your loan, you can increase your BTC collateral. This lowers your LTV and helps prevent liquidation. Simply go to your active contract and click the **(+) Add Collateral** button.
Can I overcollateralize from the beginning? [#can-i-overcollateralize-from-the-beginning]
Absolutely. While each lender sets a minimum LTV (often 50% or 70%), you are free to lock in more collateral from the start. This gives you a safety margin and reduces the risk of margin calls.
Will I be notified before my collateral is liquidated? [#will-i-be-notified-before-my-collateral-is-liquidated]
Yes. Lendasat will send you alerts if your LTV crosses key thresholds:
* **80%** - Initial warning
* **85%** - Urgent warning
* **90%** - Liquidation
These alerts, sent by email or Telegram, help you act in time to top up collateral or repay.
Can I extend a loan? [#can-i-extend-a-loan]
Yes. Before your loan reaches maturity, you can request an extension. However, this is only possible if:
* The lender allowed it in their loan offer
* You request the extension with the same lender
If approved, the contract is extended.
Please note that a renewal fee will be charged when you extend your loan. This fee will be deducted from your collateral and is in addition to any interest charges for the extended period. For detailed fee information, see our [Fee Schedule](/docs/p2p-loans/concepts/fee-schedule).
How long does it take to receive my Bitcoin collateral after repayment? [#how-long-does-it-take-to-receive-my-bitcoin-collateral-after-repayment]
Once your repayment is confirmed by the lender (or by the smart contract, depending on the protocol version), the BTC collateral is released immediately to your refund address. Network confirmation times may vary but generally take a few minutes.
Is borrowing on Lendasat a taxable event? [#is-borrowing-on-lendasat-a-taxable-event]
Generally, borrowing is not a taxable event because you are not selling your BTC, merely using it as collateral. However, you should consult a tax advisor in your jurisdiction to understand the specifics. Lendasat does not provide tax advice.
Do I need to complete KYC to borrow? [#do-i-need-to-complete-kyc-to-borrow]
No KYC is required to access the core borrowing functionality on Lendasat. However, some lenders may ask to KYC the borrower.
Can I see real-time updates of my loan health? [#can-i-see-real-time-updates-of-my-loan-health]
Yes. From your dashboard, you can view your current LTV, the collateral value, and any margin call alerts. Lendasat provides real-time monitoring of your position.
I've funded the collateral contract, but I can't see anything on Lendasat, why? [#ive-funded-the-collateral-contract-but-i-cant-see-anything-on-lendasat-why]
* Your transaction requires at least 1 confirmation on the Bitcoin blockchain. Please double-check the [mempool](https://www.mempool.space/) to confirm if that's the case.
* The exact amount of Bitcoin must be sent to the collateral funding address.
If you have verified these two points and nothing happens, please contact us via the support channel on our [Discord](https://discord.gg/kyxqWFKMCF), or by [email](mailto:support@lendasat.com).
I did not receive my Virtual Card, why? [#i-did-not-receive-my-virtual-card-why]
If you selected the option for your loan disbursement to be made on a Virtual Card, the lender will need to send the stablecoins to the provider on your behalf.
The payment is made in USDC on the Polygon blockchain network, and 372 confirmations are required, which should take approximately 15 to 20 minutes. If you encounter any issues, please contact us.
I did not receive the right amount of stablecoins. [#i-did-not-receive-the-right-amount-of-stablecoins]
Please open a dispute and provide the transaction hash.
I did not send the right amount of stablecoins to the lender. [#i-did-not-send-the-right-amount-of-stablecoins-to-the-lender]
The lender will open a dispute and will require a correction. If you do not send the exact amount, a partial liquidation may be required.
I lost access to the wallet from which I extracted the refund address. [#i-lost-access-to-the-wallet-from-which-i-extracted-the-refund-address]
As long as you have your **contract secret**, you will be able to change the refund address and receive your collateral on a new wallet after repaying your loan.
Still Need Help? [#still-need-help]
If your issue isn't covered here, reach out to us:
* **Discord:** [discord.gg/kyxqWFKMCF](https://discord.gg/kyxqWFKMCF)
* **Email:** [support@lendasat.com](mailto:support@lendasat.com)
# FAQ (/docs/p2p-loans/faq)
Find answers to common questions about borrowing and lending on Lendasat.
***
Quick Answers [#quick-answers]
Is Lendasat safe? [#is-lendasat-safe]
Yes. Lendasat uses non-custodial 2-of-3 multisig technology. We never hold your Bitcoin. Your funds remain under shared control between you, your counterparty, and Lendasat (for dispute resolution only).
Do I need to complete KYC? [#do-i-need-to-complete-kyc]
No KYC is required for core functionality. However, some counterparties may request it for larger loans.
What currencies can I borrow/lend? [#what-currencies-can-i-borrowlend]
* **Stablecoins:** USDC, USDT on Polygon, Ethereum, Solana, Starknet, Liquid
* **Fiat:** EUR, USD, GBP (via bank transfer)
* **Virtual Card:** USDC on Polygon
What happens if Lendasat disappears? [#what-happens-if-lendasat-disappears]
You can still recover your funds using our [Doomsday recovery tool](/docs/p2p-loans/concepts/doomsday). Both parties can cooperatively sign a transaction to release the collateral without Lendasat.
***
Need More Help? [#need-more-help]
Join our community for support
[support@lendasat.com](mailto:support@lendasat.com)
# Lending FAQ (/docs/p2p-loans/faq/lending)
Which stablecoins can I lend on Lendasat? [#which-stablecoins-can-i-lend-on-lendasat]
Currently, you can lend in USDC and USDT. Lendasat supports lending across multiple blockchain networks, allowing borrowers to access your liquidity based on their payout preferences.
If you want to target Virtual Card borrowers, your loan offer must be in USDC on Polygon to be compatible.
On which blockchain networks can I lend? [#on-which-blockchain-networks-can-i-lend]
You can lend on Polygon, Ethereum, Solana, Starknet, and the Liquid Network. The network you choose determines how the loan principal will be sent and how you'll receive repayments. Offers are specific to the network you select.
How is the interest rate (APR) determined for my loan offer? [#how-is-the-interest-rate-apr-determined-for-my-loan-offer]
As a lender, you set your own Annual Percentage Rate (APR) when creating a loan offer. The APR defines the total amount of interest you'll receive over one year. Regardless of whether the borrower repays early or on time, you receive the full interest as per the agreed loan duration. The APR does not include origination or network fees.
How do I specify the amount I want to lend? [#how-do-i-specify-the-amount-i-want-to-lend]
You can define both a loan amount range and a maximum liquidity available for your offer. For example, if you set a loan range of $1,000 to $5,000 and dedicate $50,000, you can accept up to 10 loans within that range until your reserve is used. This helps you stay in control of your capital allocation.
How do I set the loan duration I want to offer? [#how-do-i-set-the-loan-duration-i-want-to-offer]
You choose a duration range when publishing your loan offer, such as 1–3 months, 1–6 months, 1-12 months, 6–12 months, etc. When searching for a loan, borrowers will only see your offers if they request a duration that falls within your selected range.
How will I receive repayment from the borrower? [#how-will-i-receive-repayment-from-the-borrower]
The borrower will send you the principal + interest in a single on-chain transaction, using the same stablecoin and blockchain network originally agreed upon. Lendasat does not intermediate the funds. You'll receive the transaction hash for verification.
What happens if the borrower gets liquidated? [#what-happens-if-the-borrower-gets-liquidated]
If a borrower's Loan-to-Value (LTV) ratio exceeds the liquidation threshold (90%), their BTC collateral is liquidated. You will receive your full principal and agreed interest automatically.
As a lender, you can trigger liquidation once the liquidation threshold of 90% LTV is reached. The exact liquidation price depends on when you choose to trigger the liquidation, which may result in a higher or lower liquidation price depending on market conditions at the time you initiate the liquidation.
You can choose to:
* **Receive Bitcoin** to cover the full principal and interest of the loan, or
* **Liquidate the collateral into stablecoin** (on the same blockchain network originally agreed upon) to receive the repayment in stablecoin instead.
Please note that fees will be deducted from the collateral value during the liquidation process. For detailed fee information, see our [Fee Schedule](/docs/p2p-loans/concepts/fee-schedule).
This ensures your capital is always protected.
What happens if the borrower repays before the end of the contract? [#what-happens-if-the-borrower-repays-before-the-end-of-the-contract]
Even if the borrower repays early, you will still receive the full interest for the agreed loan duration. This is because Lendasat uses fixed-term contracts, and the borrower agrees to pay for the entire term, regardless of repayment timing.
Do I need to complete KYC to lend on Lendasat? [#do-i-need-to-complete-kyc-to-lend-on-lendasat]
No KYC is required to lend on Lendasat for stablecoin offers. However, some borrowers may request KYC.
Can I cancel or update my loan offer after it's posted? [#can-i-cancel-or-update-my-loan-offer-after-its-posted]
Yes. You can modify or cancel your loan offer at any time, as long as it has not yet been accepted by a borrower. You can adjust the APR, duration range, loan amount, and more.
How is my capital secured until a borrower accepts my offer? [#how-is-my-capital-secured-until-a-borrower-accepts-my-offer]
Your funds remain under your control until a borrower accepts your offer. Capital is not locked or moved until the contract is initiated. Lendasat never takes custody of lender funds.
What happens if my offer is not accepted? [#what-happens-if-my-offer-is-not-accepted]
If your offer isn't matched with a borrower, your capital remains untouched and fully available in your wallet. You can leave your offer open, modify it, or cancel it at any time.
Can I choose to receive repayment in Bitcoin instead of stablecoins? [#can-i-choose-to-receive-repayment-in-bitcoin-instead-of-stablecoins]
In liquidation scenarios, yes. You can opt to receive BTC instead of stablecoins. This depends on how you configure your liquidation preferences when setting up the offer. Outside of liquidation, repayments are always made in the stablecoin and network initially agreed upon.
Receiving BTC may trigger a taxable event. Please consult a tax professional in your country to understand your obligations. Lendasat does not provide legal or tax advice.
Can I track the health of active loans I've issued? [#can-i-track-the-health-of-active-loans-ive-issued]
Yes. Your dashboard allows you to monitor all active loans, including:
* Current Loan-to-Value (LTV)
* Collateral value in real-time
* Loan duration and remaining time
* Margin call notifications if needed
What are the risks of lending on Lendasat? [#what-are-the-risks-of-lending-on-lendasat]
While the protocol is designed to protect lenders, risks may include:
* Smart contract vulnerabilities
* Extreme BTC price volatility
* Borrower disputes
**Important:** You are solely responsible for monitoring your loans and triggering liquidation when needed. If you fail to liquidate before the collateral value falls below the loan amount, you bear the loss. Lendasat does not guarantee full recovery of your loan amount.
Lendasat mitigates risks through overcollateralization and provides tools for monitoring, but the decision to liquidate rests entirely with you as the lender.
Are lending returns taxable? [#are-lending-returns-taxable]
Lending returns may be considered taxable income in many jurisdictions. Please consult a tax professional in your country to understand your obligations. Lendasat does not provide legal or tax advice.
Will I be notified if a borrower is approaching liquidation? [#will-i-be-notified-if-a-borrower-is-approaching-liquidation]
Yes. You will receive email and/or Telegram alerts when a borrower's LTV crosses risk thresholds (e.g. 80%, 85%). This allows you to track the health of your loans and anticipate liquidation events.
What happens if the borrower opens a dispute? [#what-happens-if-the-borrower-opens-a-dispute]
In the event of a dispute, Lendasat's dispute mechanism is triggered. Lendasat will intervene to assess and resolve the contract based on pre-agreed rules. Funds are released according to the outcome.
Can I lend fiat instead of stablecoins? [#can-i-lend-fiat-instead-of-stablecoins]
Yes, fiat lending is now possible. Depending on your region and payment infrastructure, fiat loans may become fully supported. KYC may be required depending on the partner used.
Is there a minimum or maximum I can lend? [#is-there-a-minimum-or-maximum-i-can-lend]
There is no strict minimum, but offers typically start at $100. Maximum amounts depend on the liquidity you're willing to commit. You define both your loan amount range and the total capital allocated to the offer.
How long do the contracts last? [#how-long-do-the-contracts-last]
We follow a 30/360 day count convention. This is a simplified method of calculating interest where every month is assumed to have 30 days and every year has 360 days, regardless of the actual calendar. It's commonly used in corporate bonds, municipal bonds, and many loan agreements because it makes interest calculations more straightforward and predictable.
# Contract States (/docs/p2p-loans/concepts/contract-states)
Throughout the loan lifecycle, your contract transitions through different states. Track your current state in the borrower or lender interface.
Quick Reference [#quick-reference]
| State | Description | Who Acts |
| --------------------- | ---------------------- | -------- |
| `Requested` | Loan request submitted | Lender |
| `Approved` | Request accepted | Borrower |
| `CollateralSeen` | BTC detected on-chain | System |
| `CollateralConfirmed` | BTC confirmed | Lender |
| `PrincipalGiven` | Loan disbursed | Borrower |
| `RepaymentProvided` | Repayment sent | Lender |
| `RepaymentConfirmed` | Repayment verified | Borrower |
| `Closed` | Loan completed | - |
***
Normal Loan Flow [#normal-loan-flow]
Requested [#requested]
Borrower submits a loan request based on a lender's offer.
→ *Waiting for lender approval*
Approved [#approved]
Lender accepts the contract request.
→ *Borrower deposits Bitcoin collateral*
CollateralSeen [#collateralseen]
Collateral transaction detected on-chain, awaiting confirmations.
→ *Waiting for blockchain confirmations*
CollateralConfirmed [#collateralconfirmed]
Collateral confirmed with sufficient verifications.
→ *Lender releases principal*
PrincipalGiven [#principalgiven]
Loan amount transferred to borrower or Virtual Card. **Loan is now active.**
→ *Borrower manages loan and plans repayment*
RepaymentProvided [#repaymentprovided]
Borrower sends repayment (principal + interest) and provides transaction hash.
→ *Waiting for lender confirmation*
RepaymentConfirmed [#repaymentconfirmed]
Lender confirms receipt of full repayment.
→ *Borrower withdraws collateral*
Closed [#closed]
Loan successfully completed. Collateral returned to borrower.
***
Extension States [#extension-states]
Borrower requested a loan extension with the same lender.
→ *Waiting for lender approval*
Extension approved. Original loan closed, new contract begins.
→ *New loan follows normal flow*
***
Problem States [#problem-states]
These states require immediate attention to avoid losing collateral.
LTV reached 90%. Lender can initiate liquidation.
→ *Add collateral immediately or face liquidation*
Borrower failed to repay by maturity date.
→ *Lender claims Bitcoin collateral*
Collateral claim transaction processing on-chain.
→ *Waiting for blockchain confirmations*
***
Cancellation States [#cancellation-states]
Lender rejected the request. No collateral deposited.
→ *Submit a new request*
Request cancelled by borrower or lender before collateral confirmed.
→ *No obligations for either party*
Request not accepted within 24 hours.
→ *Submit a new request*
***
Dispute States [#dispute-states]
Borrower initiated a dispute. Lendasat will review and mediate.
Lender initiated a dispute. Lendasat will review and mediate.
Borrower accepted the resolution. Contract transitions accordingly.
Lender accepted the resolution. Contract transitions accordingly.
***
State Flow Diagrams [#state-flow-diagrams]
**Successful Loan**
```
Requested → Approved → CollateralSeen → CollateralConfirmed
↓
PrincipalGiven → RepaymentProvided → RepaymentConfirmed → Closed
```
**Extension**
```
PrincipalGiven → RenewalRequested → Extended → (New contract)
```
**Liquidation / Default**
```
PrincipalGiven → Undercollateralized → Closing → Closed
PrincipalGiven → Defaulted → Closing → Closed
```
**Cancelled**
```
Requested → Rejected / Cancelled / RequestExpired
```
***
Need Help? [#need-help]
Questions about contract states? Check our [FAQ](/docs/p2p-loans/faq) or [contact support](mailto:support@lendasat.com).
# Contract Terms (/docs/p2p-loans/concepts/contract-terms)
Understanding your loan contract terms is essential before borrowing or lending.
***
Fixed-Term Contracts [#fixed-term-contracts]
All Lendasat contracts are **fixed-term**, meaning terms are locked once the loan begins:
| What's Fixed | Can It Change? |
| ----------------------- | -------------- |
| LTV ratio | No |
| APR (interest rate) | No |
| Loan duration | No |
| Loan amount | No |
| Collateral requirements | No |
**What this means:**
* You know exactly how much interest applies
* You know when repayment is due
* You know how much collateral is required
* Early repayment still requires full interest payment
***
LTV (Loan-to-Value Ratio) [#ltv-loan-to-value-ratio]
LTV determines how much Bitcoin you need to lock up for your loan.
**Formula:** `LTV = (Loan Amount ÷ Collateral Value) × 100`
Example at 50% LTV [#example-at-50-ltv]
| BTC Price | Loan Amount | Required Collateral | BTC Needed |
| --------- | ----------- | ------------------- | ----------- |
| $100,000 | $10,000 | $20,000 | **0.2 BTC** |
What Happens When BTC Price Drops? [#what-happens-when-btc-price-drops]
| BTC Price | Your 0.2 BTC Worth | Your LTV | Status |
| --------- | ------------------ | -------- | ----------- |
| $100,000 | $20,000 | 50% | Safe |
| $80,000 | $16,000 | 62.5% | Safe |
| $60,000 | $12,000 | 83.3% | Warning |
| $55,000 | $11,000 | 90% | Liquidation |
The liquidation threshold is set at 90% LTV, where lenders may initiate collateral liquidation.
Once this threshold is reached, the lender can trigger the liquidation at any time. The exact liquidation price depends
on when the lender chooses to trigger the liquidation, which may result in a higher or lower liquidation price based on
market conditions at that moment.
When liquidation occurs, fees are charged and deducted from the collateral value. For detailed fee information, see our
[Fee Schedule](/docs/p2p-loans/concepts/fee-schedule). Borrowers retain the right to add supplementary Bitcoin to their collateral position at any time
to maintain a healthy LTV ratio and avoid liquidation.
To Avoid Liquidation [#to-avoid-liquidation]
* **Add more BTC** collateral to lower your LTV
* **Repay early** to exit your position
Lower LTV = Safer but more BTC required | Higher LTV = Less BTC but higher risk
***
APR (Annual Percentage Rate) [#apr-annual-percentage-rate]
APR is the yearly interest cost, calculated proportionally for your loan duration.
How It's Calculated [#how-its-calculated]
| Loan Amount | APR | Duration | Interest Owed | Total Repayment |
| ----------- | --- | --------- | ------------- | --------------- |
| $10,000 | 8% | 12 months | $800 | **$10,800** |
| $10,000 | 8% | 6 months | $400 | **$10,400** |
| $10,000 | 8% | 3 months | $200 | **$10,200** |
**APR excludes:**
* Origination fee (1.5%)
* On-chain transaction fees
Repayment Options [#repayment-options]
| Type | Description |
| ---------------- | ------------------------------------------------- |
| Bullet repayment | Full amount (principal + interest) at end of term |
| Monthly payments | Interest paid monthly if lender requests |
***
Loan Duration [#loan-duration]
Duration is the time from loan disbursement to maturity date.
| Duration | Interest (at 8% APR on $10k) | Notes |
| --------- | ---------------------------- | ------------------- |
| 1 month | $67 | Shortest term |
| 3 months | $200 | Common choice |
| 6 months | $400 | Balanced option |
| 12 months | $800 | Maximum flexibility |
Key Rules [#key-rules]
* Duration is **fixed** and cannot be changed mid-loan
* **Early repayment** allowed, but full interest still applies
* **Extensions** possible only if the lender has active offers
**30/360 Day Convention:** We use simplified interest calculation where every month = 30 days and every year = 360 days. This is standard practice in corporate bonds and loan agreements.
***
Quick Reference [#quick-reference]
| Term | Definition |
| ----------------- | ---------------------------------------------- |
| **Principal** | Original loan amount (excluding interest/fees) |
| **Maturity Date** | Deadline for full repayment |
| **Collateral** | BTC locked in multisig to secure the loan |
| **Margin Call** | Warning at 80%/85% LTV before liquidation |
| **Liquidation** | Forced sale of collateral at 90% LTV |
***
Next Steps [#next-steps]
# Doomsday Recovery (/docs/p2p-loans/concepts/doomsday)
What "Doomsday" Is [#what-doomsday-is]
Doomsday is Lendasat's break-glass recovery tool for a Bitcoin lending contract.
If Lendasat ever disappears (hosting down, company gone, etc.), the two counterparties (borrower & lender) can still co-spend the contract's collateral by reconstructing the needed key material and building/signing a PSBT (Partially Signed Bitcoin Transaction) together - entirely outside Lendasat's platform.
[Audit, use and download the software on GitHub](https://github.com/lendasat/doomsday)
What You Will Need to Stay Safe [#what-you-will-need-to-stay-safe]
* Your contract backup - it should contain all non-secret metadata required by the tool and can be found on your contract page
* Your own encrypted wallet seed and Lendasat password
* The contract derivation path (per-contract key path)
* The collateral contract address and collateral script (used as inputs when building the spend)
All of the above, except your password, are in the backup file.
How It Works (Step-by-Step) [#how-it-works-step-by-step]
**1. Open the Offline UI**
You load `dist/index.html` in a browser (no server needed). Select the Bitcoin network (mainnet by default).
Or go to the hosted version: [https://lendasat.github.io/doomsday/](https://lendasat.github.io/doomsday/)
**2. Derive Your Per-Contract Private Key**
In the UI you supply:
* Your encrypted wallet seed
* Your Lendasat password
* The derivation path for this specific contract
The tool derives the key that can authorize spending from the contract's script. (Only your password decrypts your seed; the path ties it to the specific contract.)
**3. Build a Spend PSBT (Initiating Party)**
You click "Build transaction" and provide:
* **Inputs:** the collateral contract address and the collateral script
* **Outputs:** the borrower address + amount and the lender address + amount (after discussing with your counterparty)
The UI constructs a PSBT and includes your partial signature. You then copy the PSBT hex and send it to your counterparty.
**4. Coordinate Out-of-Band (Fallback Comms)**
The README suggests contacting your counterparty via Nostr, using derived keys (your Nsec, their Npub) so you can find each other even if Lendasat is gone. (This is just for coordination; signing happens in the PSBT.)
**5. Verify, Finalize, Broadcast (Finalizing Party)**
The other party:
* Verifies the PSBT amounts (to ensure they match the agreed split)
* Derives their own per-contract key the same way (seed + password + derivation path)
* Clicks "Sign & broadcast," pastes your PSBT, adds their signature, and broadcasts the fully signed transaction to the Bitcoin network
A few seconds later, it should appear on-chain.
Security & Trust Model [#security--trust-model]
**Non-Custodial by Construction**
Each party holds their own encrypted seed and password; the tool derives per-contract keys locally to authorize spends from the collateral script (e.g., a pay-to-witness-script-hash address defined by the loan contract). Lendasat's availability is not required at signing time.
**Cooperative Only**
Doomsday is a two-party cooperative recovery. Both borrower and lender must sign the PSBT to move funds. (If one side refuses, Doomsday by itself does not imply a unilateral path - any such path would have to be part of the contract's script rules, which are not described in the repo.)
**Data Minimization**
The tool needs your password to decrypt your seed locally; everything else it asks for (address, script, derivation path) should be in the backup. Keep that backup safe.
Practical Usage Tips [#practical-usage-tips]
* **Do it offline if you can:** Open the HTML file locally; consider running the browser in a hardened environment (no extensions; ideally an air-gapped machine) when handling seeds/passwords
* **Verify outputs carefully:** Double-check the sats amounts and recipient addresses before you sign or broadcast. The finalizing party is explicitly told to verify the amount
* **Use Nostr only to coordinate:** Treat it like email/DMs for sharing PSBTs and confirming terms. Don't paste secrets there
* **Keep the backup current:** Since the tool relies on contract backups, make sure your backups are up-to-date whenever you enter a new contract
Limitations to Be Aware Of [#limitations-to-be-aware-of]
* **Requires cooperation:** If the other party is unresponsive or adversarial, Doomsday (as documented) doesn't promise a unilateral spend route
* **You must supply correct script data:** The inputs (contract address + script) must match the on-chain UTXO(s) holding collateral; wrong data = invalid PSBT
* **Password/seed hygiene matters:** Anyone with your decrypted seed and path can sign on your behalf
# Fee Schedule (/docs/p2p-loans/concepts/fee-schedule)
This page outlines all fees charged by Lendasat for our services. All fees are transparent and charged only under
specific circumstances.
***
Origination Fee [#origination-fee]
**Rate:** 1.5% of the loan amount
**When Charged:** The origination fee is charged once when the loan is either repaid or liquidated.
**Applied To:** The total loan amount (principal), not the collateral value. The fee is calculated based on the
Bitcoin price at the time of origination.
**How It Works:**
* If you repay the loan in full and claim your collateral, the fee is deducted from the collateral before the
remaining amount is returned to you.
* If the collateral is liquidated due to non-repayment or LTV threshold breach, the fee is deducted from the
proceeds of the liquidation.
* The fee amount in Bitcoin is determined using the Bitcoin price at origination.
**Example:** For a $10,000 loan, the origination fee would be $150 (1.5% of $10,000). If Bitcoin is priced at
$50,000 at origination, this equals 0.003 BTC that will be deducted from your collateral.
***
Liquidation Fee [#liquidation-fee]
**Rate:** Up to 5% of the collateral value at the time of liquidation
**When Charged:** Only when a liquidation occurs (triggered by the lender after the 90% LTV threshold is reached).
**Applied To:** The collateral value at the time of liquidation.
**How It Works:**
* Liquidation can be triggered by the lender once the loan reaches 90% LTV.
* The exact liquidation price depends on when the lender chooses to trigger the liquidation, which may
result in a higher or lower liquidation price based on market conditions.
* This fee is charged in addition to the origination fee.
* The fee is up to 5% and may vary depending on the specific circumstances of the liquidation.
**Example:** If your collateral is worth $20,000 at the time of liquidation, the liquidation fee could be
up to $1,000 (5% of $20,000), plus the origination fee.
***
Renewal Fee [#renewal-fee]
**Rate:** 0.5% of the loan amount
**When Charged:** When a borrower extends/renews an existing loan with the same lender.
**Applied To:** The total loan amount being renewed.
**How It Works:**
* If you request to extend your loan past the original maturity date, a renewal fee applies.
* The renewal must be done with the same lender and only if they have open offers available.
* This fee is in addition to any interest charges for the extended period.
**Example:** For extending a $10,000 loan, the renewal fee would be $50 (0.5% of $10,000).
***
Additional Costs [#additional-costs]
Please note that in addition to Lendasat fees, you may incur other costs:
* **Bitcoin network fees (mining fees):** Required for Bitcoin transactions when funding collateral or receiving refunds
* **Blockchain gas fees:** Required when sending stablecoins for repayment (ETH for Ethereum, POL for Polygon,
SOL for Solana, etc.)
* **Interest payments:** Paid to the lender as agreed in your loan contract (not a Lendasat fee)
***
Fee Payment Methods [#fee-payment-methods]
| Fee | Payment Method |
| --------------- | ----------------------------------------- |
| Origination Fee | Deducted from Bitcoin collateral |
| Liquidation Fee | Deducted from Bitcoin collateral proceeds |
| Renewal Fee | Deducted from Bitcoin collateral |
***
Questions? [#questions]
Contact our support team at [support@lendasat.com](mailto:support@lendasat.com)
**Last Updated:** November 2025
# Protocol (/docs/p2p-loans/concepts/protocol)
Using Lendasat means using a real Bitcoin wallet. When you create your account, a non-custodial wallet is automatically generated for you, along with a seed phrase.
**Your seed phrase is the only way to recover access.** Lendasat does not store this information. You, and only you, have access to your funds.
Core Principle [#core-principle]
**We are not a custodian. We never hold your Bitcoin. You don't have to trust us.**
***
Lendasat vs. Centralized Platforms [#lendasat-vs-centralized-platforms]
| Feature | Lendasat | Centralized Platforms |
| ------------------------- | -------------------- | ------------------------ |
| **Custody** | You (non-custodial) | Platform (custodial) |
| **Collateral Access** | Locked in multisig | Controlled by platform |
| **Trust Model** | Trustless | Trust & reputation based |
| **Transparency** | On-chain, verifiable | Opaque internal systems |
| **Censorship Resistance** | Yes | No |
| **Platform Failure Risk** | None (funds safe) | High (loss possible) |
***
How the 2-of-3 Multisig Works [#how-the-2-of-3-multisig-works]
Loans are secured through a 2-of-3 multisignature escrow:
Holds 1 key
Holds 1 key
Holds 1 key (dispute resolution only)
**To move collateral, 2 of 3 parties must sign:**
| Scenario | Who Signs | Result |
| ---------------- | ----------------- | -------------------------- |
| Normal repayment | Borrower + Lender | Collateral returned |
| Liquidation | Lender + Lendasat | Lender receives collateral |
| Dispute resolved | Winner + Lendasat | Funds go to winner |
**Key guarantees:**
* Lender cannot steal collateral alone
* Borrower cannot move it prematurely
* Lendasat cannot access funds alone, ever
***
Liquidation Thresholds [#liquidation-thresholds]
| LTV Level | Status | Action |
| ---------- | -------- | ------------------------ |
| **50-70%** | Safe | Normal operation |
| **80%** | Warning | Margin call notification |
| **85%** | Urgent | Second warning issued |
| **90%** | Critical | Liquidation triggered |
***
Understanding LTV [#understanding-ltv]
**Formula:** `LTV = (Loan Amount ÷ Collateral Value) × 100`
**Example:**
| Scenario | Loan | Collateral | LTV |
| ------------------- | ------ | ------------------------- | --------------------- |
| Initial | $5,000 | $10,000 (0.1 BTC @ $100k) | **50%** |
| BTC drops to $60k | $5,000 | $6,000 (0.1 BTC @ $60k) | **83.3%** |
| BTC drops to $55.5k | $5,000 | $5,555 (0.1 BTC @ $55.5k) | **90%** → Liquidation |
***
How to Avoid Liquidation [#how-to-avoid-liquidation]
Top up your BTC anytime via the "Add Collateral" button in your loan contract.
Pay back the loan before LTV reaches dangerous levels.
Watch your LTV, especially during volatile markets.
***
Need Help? [#need-help]
Questions about the protocol? Check our [FAQ](/docs/p2p-loans/faq) or [contact support](mailto:support@lendasat.com).
# Cookie Policy (/docs/p2p-loans/legal/cookies)
Last Updated: 25.09.2025
What Are Cookies [#what-are-cookies]
Cookies are small text files that are placed on your computer or mobile device when you visit our website. They are widely used to make websites work more efficiently, provide a better user experience, and provide information to the owners of the site.
How We Use Cookies [#how-we-use-cookies]
We use cookies to:
* **Essential Cookies**: These cookies are necessary for the website to function properly. They enable basic functions like page navigation and access to secure areas of the website.
* **Analytics Cookies (PostHog)**: We use PostHog analytics cookies to understand how visitors interact with our website. This helps us improve our site's functionality and content. PostHog cookies track page views, user interactions, session recordings, and help us conduct A/B testing.
* **Functional Cookies**: These cookies allow the website to remember choices you make (such as your cookie consent preference and language settings) and provide enhanced, more personalized features.
Types of Cookies We Use [#types-of-cookies-we-use]
\*\*First-Party Cookies
These are cookies set by our website directly. They include:
* **cookie-consent**: Stores your cookie preference (accepted/declined)
* **ph\_\[project\_key]\_posthog**: PostHog user identification cookie (1 year duration)
* Session cookies that expire when you close your browser
* Persistent cookies that remain on your device for a set period
\*\*PostHog Analytics Cookies
PostHog sets the following cookies for analytics purposes:
* **ph\_phc\_\[key]\_posthog**: Main tracking cookie for user identification across sessions (duration: 1 year)
* **$sesid**: Session identifier for tracking current session
* **$session\_recording\_enabled**: Indicates if session recording is active
* These cookies help us understand user behavior, improve site performance, and conduct A/B testing
\*\*Third-Party Cookies
We may also use third-party services that set their own cookies, including:
* Cloudflare (for performance and security)
* Social media platforms (if social sharing features are enabled)
Managing Cookies [#managing-cookies]
You can control and manage cookies in various ways:
\*\*Browser Settings
Most web browsers allow you to control cookies through their settings. You can:
* View what cookies are stored on your device
* Delete some or all cookies
* Block cookies from certain or all websites
* Set your browser to notify you when a cookie is being set
Please note that blocking all cookies may affect the functionality of our website.
\*\*How to Disable Cookies
Here are links to manage cookies in popular browsers:
* [Chrome](https://support.google.com/chrome/answer/95647)
* [Firefox](https://support.mozilla.org/en-US/kb/cookies-information-websites-store-on-your-computer)
* [Safari](https://support.apple.com/guide/safari/manage-cookies-and-website-data-sfri11471/mac)
* [Edge](https://support.microsoft.com/en-us/microsoft-edge/delete-cookies-in-microsoft-edge-63947406-40ac-c3b8-57b9-2a946a29ae09)
Updates to This Policy [#updates-to-this-policy]
We may update this Cookie Policy from time to time. Any changes will be posted on this page with an updated revision date.
Contact Us [#contact-us]
If you have any questions about our use of cookies, please contact us through our [contact page](/about) or refer to our [Privacy Policy](/docs/p2p-loans/legal/privacy) for more information about how we handle your data.
Cookie Banner [#cookie-banner]
When you first visit our website, you will see a cookie consent banner that allows you to:
* **Accept All**: Enables all cookies including PostHog analytics and session recording
* **Decline**: Disables analytics cookies; only essential cookies will be used
Your preference is stored and respected across all visits. You can change your preference at any time through the cookie banner or by clearing your browser cookies.
Consent [#consent]
By clicking "Accept All" on our cookie banner or continuing to use our website after being presented with the cookie notice, you consent to our use of cookies as described in this policy. If you click "Decline" or do not agree to our use of cookies, only essential cookies necessary for basic website functionality will be used.
# Impressum (/docs/p2p-loans/legal/impressum)
Company Information [#company-information]
**Company Name:** Lendasat Inc.
**Entity Type:** Delaware C Corporation
**Representative:** Philipp Hoenisch
Company Address [#company-address]
1111B S Governors Ave STE 48557
Dover, DE 19904
United States
Contact [#contact]
**Email:** [legal@lendasat.com](mailto:legal@lendasat.com)
**Support:** [support@lendasat.com](mailto:support@lendasat.com)
**Website:** [https://lendasat.com](https://lendasat.com)
***
*For detailed information, please refer to our [Terms of Service](/docs/p2p-loans/legal/terms), [Privacy Policy](/docs/p2p-loans/legal/privacy), and [Cookie Policy](/docs/p2p-loans/legal/cookies).*
# Privacy Policy (/docs/p2p-loans/legal/privacy)
\*\*Last Updated: 25.09.2025
This Privacy Policy describes how Lendasat ("we," "us," or "our") collects, uses, and shares information about you when you use our website and services. By accessing or using our services, you acknowledge that you have read, understood, and agree to be bound by this Privacy Policy.
Session Recording Technology Notice [#session-recording-technology-notice]
**IMPORTANT: We use session recording technology that captures your interactions with our website in real-time.** This technology records a video-like replay of your browsing session, including all mouse movements, clicks, scrolls, and typing (with sensitive information automatically masked). By continuing to use our website after being informed of this practice, you provide explicit consent to session recording.
We use PostHog, a privacy-focused analytics platform, to understand how visitors interact with our website. PostHog automatically collects usage information including but not limited to page views, navigation paths, time spent on pages, button clicks, scrolls, form interactions, session duration and frequency of visits, referrer URLs, and search queries within our site. Technical information collected includes browser type and version, operating system and device type, screen resolution and viewport size, IP address for geographic location at country/city level, language preferences, and timezone settings.
\*\*Session Recording Details
When session recordings are enabled (only with your consent), we capture:
* **Visual recordings** of your entire browsing session
* **Mouse movements, clicks, and hover actions** in real-time
* \*\*Scrolling behavior and viewport changes
* **Form interactions** (with ALL input fields, passwords, and payment data automatically masked)
* \*\*Page transitions and navigation patterns
* **Error messages and console warnings** for debugging
* \*\*Time spent on each page element
\*\*Privacy Protections in Session Recording:
* All text inputs are masked by default
* Password fields are never recorded
* Credit card and payment information is automatically blocked
* Social Security Numbers and tax IDs are detected and masked
* Email addresses in sensitive contexts are partially masked
* Health and medical information fields are blocked
* The recordings respect "Do Not Track" browser signals
* You can opt-out at any time
We use first-party cookies and local storage to maintain analytics session continuity, remember your privacy preferences, store unique visitor identifiers, and track feature usage for improvement. PostHog cookies include ph\_\[project\_key]\_posthog for user identification across sessions with a duration of 1 year as first-party only cookies with no third-party tracking. The collected data is used to improve our website functionality and user experience, understand which features and content are most valuable, identify and fix bugs, errors, and performance issues, analyze user behavior patterns and navigation flows, optimize our services based on usage patterns, generate aggregated statistics about site usage, conduct A/B testing for feature improvements, and ensure website security and prevent fraud.
Our legal basis for processing under GDPR includes legitimate interest for analytics data to improve our services, consent for users in the EU/EEA before placing analytics cookies, and contract performance when processing is necessary to provide our services. For EU/EEA residents under GDPR, you have the right to access and request a copy of your personal data, rectification to correct inaccurate personal data, erasure to request deletion of your data known as the right to be forgotten, restriction to limit how we process your data, portability to receive your data in a machine-readable format, object to oppose processing of your personal data, and withdraw consent at any time. California residents under CCPA have the right to know what personal information we collect and how it's used, delete to request deletion of your personal information, opt-out though we do not sell personal information, and non-discrimination for equal service regardless of privacy choices.
To exercise your rights, you may opt-out of analytics by clicking "Decline" on our cookie banner or using the opt-out button, make data requests by emailing [privacy@lendasat.com](mailto:privacy@lendasat.com), and expect responses to all requests within 30 days. We implement comprehensive security measures including encryption with all data transmitted using TLS/SSL encryption, storage with data encrypted at rest in PostHog's infrastructure, access control with role-based access and multi-factor authentication, infrastructure hosted on secure AWS servers, and 24/7 security monitoring and intrusion detection. PostHog maintains SOC 2 Type II certification, GDPR-compliant data processing practices, CCPA compliance for California residents, and regular third-party security audits.
PostHog acts as our Data Processor for product analytics, user behavior tracking, and session recordings. Data is processed in PostHog Cloud EU located in Frankfurt, Germany for GDPR compliance. Their privacy policy is available at [https://posthog.com/privacy](https://posthog.com/privacy). We share usage data, technical information, and anonymized IP addresses with PostHog with a default retention of 7 years which is configurable. PostHog is SOC 2 Type II certified and GDPR compliant. We also use Cloudflare for content delivery network and DDoS protection with their privacy policy available at [https://www.cloudflare.com/privacy/](https://www.cloudflare.com/privacy/).
You can control cookies and tracking through our cookie banner by choosing "Accept" or "Decline" when you first visit, browser settings to block or delete cookies, an opt-out button to stop all tracking, and we respect browser "Do Not Track" signals. Opting out of PostHog analytics means your choice will be stored in a cookie, no analytics data will be collected from your device, session recordings will be disabled, and your preference persists across visits, though opting out only affects this device and browser requiring separate opt-out on other devices or browsers.
PostHog analytics data is retained as follows: event data for 7 years as default PostHog Cloud retention, session recordings for 90 days, person profiles until deletion requested, A/B test data for duration of test plus 90 days, and custom events for 7 years. You can request deletion at any time via [privacy@lendasat.com](mailto:privacy@lendasat.com) with automated deletion after retention period expires, though aggregated or anonymized data may be retained indefinitely.
For EU/EEA residents, Lendasat acts as Data Controller determining why and how data is processed, PostHog, Inc. acts as Data Processor processing data on our behalf, and AWS in Frankfurt region serves as sub-processor for EU data residency. Legal basis for processing includes consent for placing analytics cookies and session recordings, legitimate interest for essential website functionality and security, and contract performance when necessary to provide requested services. International data transfers store data in EU Frankfurt for EU/EEA visitors with Standard Contractual Clauses for any required transfers and a Data Processing Agreement in place with PostHog. You have GDPR rights including the right to be informed through this privacy policy, right of access to your personal data, right to rectification of inaccurate data, right to erasure or right to be forgotten, right to restrict processing, right to data portability, right to object to processing, and rights related to automated decision-making. You have the right to lodge a complaint with your local data protection authority if you believe we have violated your rights.
Under CCPA, personal information includes identifiers such as IP address, device ID, and cookie IDs, internet activity including browsing history on our site and interaction data, geolocation data as approximate location from IP, and inferences drawn from the above to create user profiles. California residents have the right to know and request disclosure of personal information collected, right to delete and request deletion of personal information, right to opt-out though we do not sell personal information, and right to non-discrimination with no different treatment for exercising rights. We collect information directly from you through website interactions, automatically through PostHog analytics, and from your device for technical information. Business purposes for collection include providing and improving our services, analytics and performance monitoring, security and fraud prevention, and legal compliance. We share data with service providers like PostHog for business purposes only, do not sell, rent, or trade personal information, and do not share for cross-context behavioral advertising.
Our services are not directed to individuals under 18. We do not knowingly collect personal information from children. We may update this privacy policy from time to time to reflect changes in our practices, technologies, legal requirements, or for other operational reasons. Material changes will be announced via website banner with an updated "Last Updated" date at the top of this policy. Continued use after changes constitutes acceptance, and for significant changes, we may request renewed consent. Current Version is 2.0 as PostHog Integration Update with previous updates available upon request.
For privacy inquiries or to exercise your rights, contact our Data Protection team at [privacy@lendasat.com](mailto:privacy@lendasat.com) with response time within 30 days. For specific requests including data access requests, deletion requests, or opt-out assistance, email [privacy@lendasat.com](mailto:privacy@lendasat.com). Community support is available on Discord at [https://discord.gg/a5MP7yZDpQ](https://discord.gg/a5MP7yZDpQ). For questions about PostHog's data practices, contact PostHog Privacy Team at [privacy@posthog.com](mailto:privacy@posthog.com), PostHog DPO Charles Cook as VP Operations, or view documentation at [https://posthog.com/docs/privacy](https://posthog.com/docs/privacy).
By using our website, you acknowledge that you have read and understood this privacy policy.
# Terms of Service (/docs/p2p-loans/legal/terms)
Last updated: 25.09.2025
Welcome to Lendasat! Our platform is live and ready to serve you. We want to ensure that you fully understand what our services entail, how they operate, and what we require from you so that you can enjoy Lendasat with complete transparency.
Your use of our Services (as defined below) is subject to your acceptance of and adherence to these Terms. PLEASE READ THESE TERMS CAREFULLY BEFORE USING THE SITE OR ANY OTHER LENDASAT SERVICES.
\*\*1. OUR SERVICES; TERMS; ACCEPTING
(a) Lendasat facilitates the connection between individuals and businesses wishing to borrow money (the "Borrowers") through a peer-to-peer loan collateralized by Bitcoin (a "Bitcoin secured loan") and individuals and businesses wishing to lend money (the "Lenders") in the form of a Bitcoin secured loan. Lendasat also provides Borrowers and Lenders with tools and services related to Bitcoin secured loans (collectively, "Lendasat Borrow" for Borrowers and "Lendasat Invest" for Lenders), such as organizing and offering technical support to Borrowers during the process of setting up the escrow environment for the Bitcoin collateral (the "Escrow setup support"), acting as Payment Oracle and Price Oracle for Bitcoin collateral held in escrow (the "Bitcoin collateral escrow"), and providing a Liquidation exchange service.
(b) The website (the "Site"), web application accessible through the Site (the "Lendasat App"), Lendasat Invest, Lendasat Borrow, including Escrow setup support, Bitcoin collateral escrow, Liquidation exchange service, and any other related services, features, functions, products, software, and applications (collectively, the "Lendasat services" or "Services") are operated and provided by Lendasat Inc., a Delaware C Corporation ("we").
(c) All defined terms used herein shall have the meaning ascribed to them in these Terms of Service. Users of the Services and holders of Lendasat account are referred to as "you" - in the case of a body corporate, such as a company or any other legal entity or organization (the "Company"), any references to "you" refer to both you as an individual interacting with the Site or otherwise with us, as well as the Company on behalf of which you are using Services or which you will identify on the Site or otherwise to us as the Lendasat account holder, user of any Services, Borrower or Lender.
(d) These Terms of Service and all additional terms and conditions incorporated herein by reference (collectively "Terms") govern your access to, and use of, the Site and other Lendasat services. By requesting access to the Services, opening a Lendasat account or by accessing or using the Site or any of the other Lendasat services or by undertaking any other action that might reasonably be construed as acceptance of these Terms, you represent and warrant that: (i) you are authorized to enter into these Terms for and on behalf of yourself (and your Company); (ii) you (and your Company) can legally enter into these Terms; and (iii) you have read and understand these Terms and agree that you (and your Company) shall be bound by these Terms.
(e) These Terms are a legally binding agreement between you and Lendasat Inc. (which will be your sole and exclusive counterparty to these Terms). If you do not agree with anything contained in these Terms (at least a single rule of them), please do not use the Site or any of the other Lendasat services.
(f) These Terms are effective as of the date first noted above. We reserve the right to update these Terms in our sole and absolute discretion from time to time without notice. You are responsible for periodically checking these Terms for revisions. Revisions will take effect immediately once we have posted the revised Terms on the Site. Except when determined by us and expressly stated in (the preamble or other parts of) the revised Terms, your continued use of the Site or any of the other Lendasat services after any such revisions will constitute your acceptance of those revisions. Notwithstanding the above, we will seek your consent to future modifications to these Terms to the extent we are required to do so by applicable law.
\*\*2. ELIGIBILITY
(a) To access and use the Site and any of the other Lendasat services, you must be at least 18 years of age. By applying for access to Lendasat services or opening the Lendasat account or otherwise accessing the Site or using any of the Lendasat services, you represent that: (i) as an individual, you are at least 18 years old; (ii) as an individual or Company, you have full legal capacity and sufficient authorizations to enter into a binding contract; (iii) you have not been previously suspended or removed from using the Site or any of the other Lendasat services; (iv) neither you, your Company, nor anyone who controls your Company are (A) target of sanctions of the US and/or EU, or (B) located, organized, or resident in a country that is target of sanctions of the US and/or EU; (v) your use of the Lendasat services is legal in your local jurisdiction, and you are not and will not use Lendasat services if such use is prohibited or otherwise violates the laws of the country in which you reside or of which you are a citizen; (vi) you do not reside in nor are a citizen of a country where distribution, publication, availability or use of Site or other Lendasat services is subjected to regulation which demands or may demand from Lendasat or its affiliates to comply with any registration or licensing requirement within such jurisdiction; (vii) you have a sophisticated understanding of Bitcoin and the technology that underlies it; and (viii) you will comply with these Terms and all applicable laws, rules and regulations.
(b) Please note that access to and use of the Site or of all or any of other Lendasat services may be, in general or from time to time, geographically (mainly if you are a citizen of, residing in, or are physically located in a country or area that is not supported by Lendasat) or otherwise restricted. You are advised to check on a regular basis all information on the Site or available through Lendasat App as to any such restrictions or limitations.
\*\*3. PRIVACY
We respect and value your privacy. Please take the time to read our Privacy Policy found [here](/docs/p2p-loans/legal/privacy), which explains how we collect, use and share your personal information. By applying for or using any of the Lendasat services, you agree that we may collect, use and share, as set forth in the Privacy Policy, the information you provide during your application for, access to, or use of any of the Lendasat services.
\*\*4. RIGHT OF ACCESS AND USE
(a) Subject to your constant and full compliance with all the terms and conditions set out in these Terms, Lendasat hereby grants to you a limited, non-exclusive, non-transferable, freely revocable right to access and use the Site and the other Lendasat services to the extent and in accordance with these Terms.
(b) These Terms only grant you a limited right to access and use Lendasat services. Lendasat does not transfer Lendasat services or the ownership or intellectual property rights of any Lendasat intellectual property to you or anyone else. All the text, graphics, user interfaces, visual interface, photos, sounds, process flow diagrams, computer code (including html code), programs, software, products, information and documents, as well as the design, structure, selection, coordination, expression, look and feel, and layout of any content included in the Services or provided through Lendasat services, are exclusively owned, controlled and/or licensed by Lendasat or its affiliates.
\*\*5. ACCESS TO SITE
To access the Site you must have the necessary equipment (such as a smartphone or PC) and the associated telecommunication service subscriptions to access the Internet. Access to the Site may, from time to time, become degraded or unavailable, for example during times of significant volume. We do not represent that the Site or any other Lendasat services will be available to you, will be available without interruption or delays or at any time or for any period in the future and we shall not be liable for any losses arising out of or resulting therefrom.
\*\*6. LENDASAT ACCOUNT
\*\*6.1 Registration
(a) You must apply for a user account with us (a "Lendasat account") before using any of Lendasat services. When you apply for a Lendasat account, you must provide the information as requested by Lendasat, and accept these Terms. Lendasat may refuse, in its discretion, to open a Lendasat account for you and we are under no obligation to inform you of the reasons, if any, for such refusal.
(b) You may not apply for or register for more than one Lendasat account, for a Lendasat account on behalf of another individual, operate a Lendasat account on behalf of any person who is not eligible to register for or operate a Lendasat account in their own name, or register for a Lendasat account on behalf of any entity other than a Company over which you have the requisite power and authority to form a binding contract. You may not apply for or register for multiple Lendasat accounts on behalf of the same Company.
\*\*6.2 True and accurate information
(a) By applying for, opening, registering for, or using your Lendasat account or using the Site or any other Services in any way, you (i) represent that all information, materials, data, content, or documents you provide or make available to us is and will remain true, correct, and complete, and you (ii) agree to maintain and update any and all personal information you provide to us to ensure it is true, accurate, current, and complete at all times.
(b) If you provide any information that is untrue, incorrect, inaccurate, not current, or incomplete or Lendasat has reasonable grounds to doubt the truthfulness, correctness, accuracy, currency, or completeness of such information, we have, without limitation of remedies or actions that we may undertake or other legal effects of such your provision under these Terms or applicable law, the right to suspend or terminate your Lendasat account.
\*\*6.3 Additional rules: Companies
(a) By applying for, opening, registering for, or using your Lendasat account or using the Site or any other Services in any way on behalf of a Company, you represent that: (i) you are duly authorized to do so; (ii) you have the power and authority to legally bind, including entering into any legal agreement in course of accessing the Services on behalf of, such Company; and that (iii) such Company is in good standing to the best of your knowledge. Furthermore, you represent and warrant that (iv) such Company will abide by all of the terms and conditions of these Terms and any other agreements you may enter into in the course of or in connection with Lendasat services.
(b) You may not operate or otherwise use a Lendasat account opened for a Company (i) for the benefit of any person other than that Company, (ii) for any purpose prohibited by law or regulation, or any activity which that Company is not duly authorized to conduct.
\*\*6.4 Security
(a) You are solely responsible for maintaining adequate security and control of any and all passwords and other account credentials that you use to access your Lendasat account (the "Account credentials"). You shall prevent unauthorized access to or use of your Lendasat account and promptly notify us of any such unauthorized access or use. You must keep your Account credentials confidential and not authorize any third party to access or use your Lendasat account on your behalf.
(b) You shall notify us at [support@lendasat.com](mailto:support@lendasat.com) of any suspected or actual security breach of your Lendasat account as soon as possible and cooperate with us in the investigation of any suspected or actual security breach, unauthorized access to, or use of your Lendasat Account.
(c) You are solely responsible for all activity that occurs on, in connection with or under your Lendasat account (whether or not authorized by you). We shall have no liability to you or any other person for acts or omissions made or committed by you, your agent, representative or third-party service provider in respect of your Lendasat account.
\*\*7. LENDASAT BORROW; LENDASAT INVEST
\*\*7.1 No lending or borrowing by Lendasat; no guarantee
(a) Bitcoin secured loans are privately issued and received by our users (Borrowers and Lenders respectively). Lendasat is the Services provider and not a lender or borrower.
(b) You acknowledge and agree that we do not guarantee nor assume any legal responsibility (or liability) whatsoever as regards the compliance with (or breach of) the terms and conditions, including, but not limited to, the right and timely fulfillment of (or default on) any obligations or other legal duties, by respective Borrower(s) or Lender(s).
\*\*7.2 Non-binding interest
(a) Lendasat Borrow allows you to submit a non-binding interest (the "Interest") in borrowing money in a form of a Bitcoin secured loan (the "Borrowing interest"). Lendasat Invest allows you to submit the Interest in lending money in a form of a Bitcoin secured loan (the "Lending interest"). Interest mainly consists of your preferred Bitcoin secured loan terms, such as loan amount and currency, loan period and acceptable (in the case of Borrowing interest) or minimal acceptable (in the case of Lending interest) loan interest rate.
(b) You may submit multiple Borrowing interests and multiple Lending interests.
(c) Borrowing interests are time-limited and valid for 14 days, unless otherwise indicated in the Lendasat App in the course of respective Borrowing interest creation. After the lapse of its applicable validity period, the Borrowing interest will be automatically cancelled.
(d) You may cancel your Borrowing interest or Lending interest at any time.
\*\*7.3 Matching
(a) Borrowing interest and Lending interest that we deem fit may be matched.
(b) It is in our sole and absolute discretion (i) whether we match or do not match any of the submitted Borrowing interests with any of the submitted Lending interests, (ii) to determine the criteria, including any automatic processes or tools, according to which any of the submitted Borrowing interests and any of any of the submitted Lending interests will be matched, and (iii) to determine any process aimed at finding a match we deem suitable – we may, for example, present one or multiple Lendasat Invest users that have submitted a Lending interest with one or more Borrowing interests (whereby, in general, first to confirm rule will apply).
(c) Without limiting the foregoing, you acknowledge and agree that due to the specifics of Bitcoin secured loan, notably security provided by the Borrower in a form of Bitcoin collateral and Bitcoin collateral escrow thereof, we have no duty whatsoever to consider in our matching any aspects or factors pertaining to the person of Lender or Borrower (e.g. counterparty risk).
(d) We may insert any of the Borrowing interest into the list of available Borrowing interests and make such listing available in the Lendasat App for Lendasat Invest users to pick a suitable match themselves.
(e) Interests are generally considered to be matched once a valid Borrowing interest has been confirmed as acceptable by a Lendasat Invest user through Lendasat App (irrespective of whether the latter has submitted any Lending interest beforehand).
\*\*7.4 Contract formation
(a) If and after your Interest have been matched, you may be prompted to proceed into the contracting phase where you may be, among other things, shown and prompted to confirm the details of the Bitcoin secured loan (the "Loan details") (i) in the case of Lendasat Borrow - to be provided to you (or your Company, if the Lendasat account is registered for a Company), or (ii) in the case of Lendasat invest - to be provided by you (or your Company, if the Lendasat account is registered for a Company), such as, for example Loan Amount, Amount Due, Loan Provision Date Maturity Date, Initial Bitcoin Collateral and Liquidation LTV. Please be advised that Loan details as shown to you may in some instances differ from the Interest you have submitted or confirmed as acceptable (and we do not represent that the two will be the same). Therefore you agree to review and check all the Loan details carefully before eventually confirming them.
(b) You may also be shown and prompted to confirm information about your address to be used with regards to or in connection with respective Bitcoin secured loan (the "Account details"). You agree to review and check the Account details carefully before eventually confirming them; should you encounter any issues with the Account details as shown to you, you will most probably have to appropriately alter the information about your address before eventually proceeding any further.
(c) We will identify your Bitcoin secured loan counterparty to you by their Unique identifier or Username. Except where forming part of their payment coordinates, you will not be shown personal data of your Bitcoin secured loan counterparty. You may ask for relevant legal identification details of your counterparty. You acknowledge and agree that we will provide you with such identification details, and provide your Bitcoin secured loan counterparty with such details on you (and/or your Company) upon request that we deem substantiated, notably when provision of details sought is necessary or advisable for enforcement or protection of the requesting party's rights.
(d) Without prejudice to other legal effects thereof, notably as stipulated in these Terms, by confirming the Loan details through the Lendasat App you (or your Company, if the Lendasat account is registered for a Company) will firmly and irrevocably consent with entering into the Loan and security agreement (as defined below).
\*\*7.5 Loan and security agreement
(a) Your Bitcoin secured loan will be governed by and subject to (i) Loan details, including Account details, as confirmed by you, and (ii) the Collateral escrow rules exhibit, that will be published at the moment of your confirmation of Loan details (Clause 7.4 above).
(d) Lendasat believes that transaction under Loan and security agreement, mainly due to its structure, shall not according to applicable law thereto be subject to consumer credit (civil) norms irrespective of eventual consumer/trader status of any party to the transaction.
(e) The Loan agreement contains legally binding contracts. However, we do not represent nor guarantee that your Loan agreement or any term or condition thereof may not be found invalid, ineffective or unenforceable by any competent judicial or other authority and we shall bear no liability should it be the case. We also do not represent nor guarantee that our belief under the preceding Clause (7.5(d)) is necessarily correct or that it will be shared by competent authorities and you expressly agree that you will not rely on anything of the aforementioned to be the case. YOU SHOULD READ ALL THE LOAN DOCUMENTS CAREFULLY AND CONSULT WITH LEGAL COUNSEL.
\*\*7.6 Collateral
(a) Bitcoin secured loans are secured by Bitcoin collateral.
(b) Your Loan agreement will dictate the cases (such as for example fall of the loan-to-collateral market value ratio below the required level), when defined amount(s) due under such Loan and security agreement shall be, instead of monetary performance, repaid in-kind by escrowed loan collateral or defined part thereof.
(c) Lendasat Borrow users must be willing and able to transfer Bitcoin collateral from, and receive Bitcoin collateral on, their Bitcoin blockchain address. Lendasat Invest users must be willing to accept Bitcoin collateral as in-kind repayment of their Bitcoin secured loan (however, such Bitcoin may then be exchanged for stable coins.
(d) Lendasat Invest users that decide to self-liquidate must be also able to receive Bitcoin collateral on their Bitcoin blockchain address. If this is your case, with regards to every self-liquidated Bitcoin secured loan you will be asked to provide your Bitcoin blockchain address. Please read and duly consider all the important security notices or other information you may be given through the Lendasat App prior to submitting your Bitcoin blockchain address.
\*\*7.7 Taxes
You are solely responsible for independently assesses and complying with all relevant tax and other legal requirements in connection with your Bitcoin secured loan. Without limiting the foregoing, you are solely responsible for the payment of any eventual taxes related to any revenue you generate.
\*\*8. LIQUIDATION
\*\*8.1 Liquidation exchange service
Subject to terms and conditions stipulated herein, we enable Lendasat Invest users to have their Bitcoin collateral used for the in-kind satisfaction of their claims under respective Loan and security agreement exchanged for fiat (legal tender) money (the "Liquidation exchange service").
\*\*8.2 Liquidation trigger and timing
(a) Liquidation of Bitcoin collateral may be triggered by the Lender once the liquidation threshold (90% LTV) is reached under the respective Loan and security agreement.
(b) The Lender has sole discretion to determine when to trigger liquidation after the liquidation threshold has been reached. The exact liquidation price depends on when the Lender chooses to initiate the liquidation, which may result in a higher or lower liquidation price based on market conditions at the time of liquidation.
(c) Upon liquidation, applicable fees as set forth in the Fee Schedule will be deducted from the Bitcoin collateral value. The Liquidation exchange service, where available, will facilitate the exchange of Bitcoin collateral into fiat or stablecoin to satisfy the Lender's claim under the Loan and security agreement.
\*\*8.3 Lender responsibility and risk assumption
(a) THE LENDER IS SOLELY RESPONSIBLE FOR MONITORING THE LOAN-TO-VALUE (LTV) RATIO AND INITIATING LIQUIDATION IN A TIMELY MANNER. Lendasat provides tools and notifications to assist with monitoring, but the decision and action to trigger liquidation rests entirely with the Lender.
(b) If the Lender fails to trigger liquidation before the collateral value falls below the outstanding loan amount (including principal, interest, and applicable fees), the Lender assumes full responsibility for any resulting shortfall. LENDASAT DOES NOT GUARANTEE THAT THE LENDER WILL RECOVER THE FULL LOAN AMOUNT.
(c) The Lender acknowledges and accepts that Bitcoin price volatility may cause rapid changes in collateral value. In extreme market conditions, the collateral value may fall below the loan amount before the Lender has an opportunity to liquidate. The Lender bears this market risk entirely.
(d) Lendasat shall not be held liable for any losses incurred by the Lender due to delayed or missed liquidation, regardless of the reason, including but not limited to: (i) failure to monitor the loan position, (ii) technical issues on the Lender's end, (iii) rapid market movements, or (iv) any other circumstance preventing timely liquidation.
\*\*9. FEES
(a) You agree to pay us all applicable fees associated with your use of the Services. The relevant fees are shown in our Fee Schedule, which is published at [lendasat.com/docs/p2p-loans/concepts/fee-schedule](/docs/p2p-loans/concepts/fee-schedule).
(b) We may change the fees and Fee Schedule at any time, without notice. Changes to our Fee Schedule are effective as of the effective date shown on the Fee Schedule, and changes will apply prospectively to your use of the Services. You are advised and agree to check the actual version of such document as will be published on the Site at the time of your confirmation of Loan details (Clause 7.4(d)).
(c) Fees charged by Lendasat (including but not limited to Origination fee, Liquidation fee, and Renewal fee, as described in the Fee Schedule) are (i) denominated and payable in Bitcoin, and (ii) to be paid through and in the course of Escrow setup or deducted from the Bitcoin collateral. You authorize us to collect any and all of these fees directly from the amount of Bitcoin that you will, from time to time, send to respective prefund address in order to fund the Escrow environment for your Bitcoin secured loan, or from the Bitcoin collateral held in escrow. Indication of the total amount of Bitcoin to be sent so as to cover both our fees and collateral under your Loan and security agreement will be provided for your convenience through Lendasat app.
(d) Any Bitcoin you send to respective prefund address in order to fund the Escrow environment for your Bitcoin secured loan shall and will be firstly used to cover our fees. You acknowledge and agree that we are entitled not to process your prefund transaction in case the total amount of Bitcoin available is insufficient to cover both our fees and collateral under your Loan and security agreement.
(e) You will be presented with the applicable fees charged by us through Lendasat app before your confirmation of Loan details (Clause 7.4). Notwithstanding anything herein to the contrary, such your confirmation constitutes an agreement to pay all such applicable fees.
(f) Fees cover the Services to which they are related as stipulated in the Fee Schedule. Except where prohibited by law or where Fee Schedule explicitly provides for otherwise, our fees are non-refundable. Any right to set off, retain, deduct, counterclaim or withhold any payments due to us under these Terms is hereby expressly waived and excluded.
(g) You understand and agree that in connection with our Services you may incur other costs, expenses or fees payable to third-parties, such as, for example, interest due to Investor under your Loan and security agreement or fees for Bitcoin and bank transfers related thereto. Except for certain Bitcoin network fees that are according to your loan documentation deducted from the Bitcoin collateral amount, you're solely responsible for paying all such costs, expenses and fees.
\*\*10. LIMITATIONS OF WARRANTIES AND LIABILITY
(a) You acknowledge and agree that (i) in providing or otherwise in connection with Lendasat services we shall not be held to any higher standard than what is generally considered to be acceptable in performing similar services, and that we (ii) make the Site or any other Services accessible to you strictly under disclaimers and limitations as set forth herein.
(b) TO THE FULLEST EXTENT PERMISSIBLE PURSUANT TO APPLICABLE LAW, LENDASAT AND ITS AFFILIATES AND SUBSIDIARIES, CONTRACTORS, DIRECTORS, OFFICERS, EMPLOYEES, AGENTS, THIRD PARTY PARTNERS, LICENSORS AND SUPPLIERS (COLLECTIVELY THE "LENDASAT PARTIES") DISCLAIM ALL WARRANTIES, STATUTORY, EXPRESS OR IMPLIED WITH RESPECT TO SERVICES, NOT EXPRESSLY SET OUT IN THESE TERMS, INCLUDING, BUT NOT LIMITED TO, THE IMPLIED WARRANTIES OF MERCHANTABILITY, FITNESS FOR A PARTICULAR PURPOSE, AND NON-INFRINGEMENT.
(c) USE OF ANY OF THE SERVICES AND ANY THIRD-PARTY DATA, ASSESSMENTS, RESULTS, INFORMATION, SOFTWARE, CONTENT, SITES, SERVICES, OR APPLICATIONS MADE AVAILABLE IN CONNECTION WITH OR THROUGH ANY OF THE SERVICES ARE PROVIDED ON AN "AS IS", AND "AS AVAILABLE", "WITH ALL FAULTS" BASIS AND WITHOUT WARRANTIES OR REPRESENTATIONS OF ANY KIND, INCLUDING IMPLIED.
(d) THE LENDASAT PARTIES WILL NOT BE LIABLE FOR DAMAGES ARISING OUT OF OR THAT RESULT FROM OR RELATE TO SERVICES OR ANY PARTY'S INABILITY TO USE OR TO OTHERWISE BE PROVIDED WITH THE SERVICES OR TO ANY OTHER INTERACTIONS WITH ANY OF THE LENDASAT PARTIES, UNLESS (WITHOUT PREJUDICE TO ANY ADDITIONAL REQUIREMENT OR CONDITIONS REQUIRED BY APPLICABLE LAW) THE RESPECTIVE LENDASAT PARTY ACTED WITH GROSS NEGLIGENCE.
(e) UNDER NO CIRCUMSTANCES WILL THE LENDASAT PARTIES BE LIABLE FOR ANY SPECIAL, INDIRECT, INCIDENTAL, CONSEQUENTIAL, PUNITIVE, RELIANCE OR EXEMPLARY DAMAGES (INCLUDING WITHOUT LIMITATION DAMAGES FROM LOST BUSINESS OR LOST REVENUES OR LOSS OF ANTICIPATED PROFIT) WHETHER BASED ON CONTRACT, TORT, NEGLIGENCE, STRICT LIABILITY OR OTHERWISE, AND REGARDLESS OF WHETHER SUCH DAMAGES WERE FORESEEABLE AND WHETHER OR NOT LENDASAT PARTIES WERE ADVISED OF THE POSSIBILITY OF SUCH DAMAGES, ARISING OUT OF OR THAT RESULT FROM OR RELATE TO SERVICES OR ANY PARTY'S INABILITY TO USE OR TO OTHERWISE BE PROVIDED WITH THE SERVICES OR TO ANY OTHER INTERACTIONS WITH THE LENDASAT PARTIES – IN CASE THE APPLICABLE LAW DOES NOT ALLOW THE LIMITATION OR EXCLUSION OF LIABILITY AS STATED HEREIN, THEN LENDASAT PARTIES' LIABILITY WILL BE LIMITED TO THE FULLEST EXTENT PERMISSIBLE UNDER APPLICABLE LAW.
(f) You understand and agree that you use, access, download, or otherwise obtain information, materials or data through any of the Lendasat services or any third-party site, at your own discretion and risk and that you will be solely responsible for any damage or loss of data that results from the download or use of such material or data.
(g) Nothing in this Chapter (10.) shall exclude liability for fraud or damages caused intentionally.
(h) This Chapter (10.) will survive the termination or expiration of these Terms for any reason.
\*\*11. TERMINATION
\*\*11.1 Lendasat
If you have breached any provision of these Terms or are otherwise not in full compliance with these Terms, the permissions granted to you hereunder will automatically terminate, and in such circumstance, you will no longer access to, or be able to use your Lendasat account, the Site or any other Services. We reserve the right to suspend or terminate your right to use your Lendasat account, the Site or any other Services, or block you from future use thereof, at any time in our sole discretion, with or without cause, without notice to you and without any penalty or compensation whatsoever. Without limiting the foregoing, we may exercise such right if: (i) you have engaged in conduct which we, acting reasonably, consider to be unacceptable; (ii) we are required by law to do so; or (iii) if we cease to carry on business in the ordinary course. We will not be liable to you due to, by reason of, or otherwise in connection with, our suspension or termination of your right to use your Lendasat account, the Site or any other Services.
\*\*11.2 You
(a) If you have any concern using the Site or any of the Services, we kindly ask you to first contact us and we will endeavor to resolve any pending issues.
(b) Your only remedy against us with respect to any dissatisfaction with (i) the Site or the other Services, (ii) any term of these Terms, or (iii) any policy or practice of Lendasat in operating the Services, is to terminate your Lendasat account and your use of all of the Lendasat services. You may terminate your use of the Lendasat services and your Lendasat account at any time.
\*\*12. GOVERNING LAW AND JURISDICTION
(a) These Terms, Services and all relationships arising therefrom or related in any way thereto (including, without limitation, liability relationships and relationships arising out of unjust enrichment), form of these Terms, legal requisites for these Terms, validity of these Terms, conclusion and effectiveness of these Terms as well as consequences of their possible invalidity or ineffectiveness shall be governed by the laws of the State of Delaware, United States, irrespective of conflict of law rules. The application of United Nations Convention on Contracts for the International Sale of Goods (CISG) is expressly and entirely excluded.
(b) Any disputes, claims or controversies arising out of or in connection with these Terms, including, without limitation, any ancillary legal relationships, claims for unjust enrichment, claims for damages, disputes on the validity (and legal consequences of its possible invalidity or ineffectiveness), interpretation or termination of these Terms shall be submitted to, and decided by, the courts of the State of Delaware, United States (exclusively). However, we shall always have the right to take legal proceedings in the court of competent jurisdiction of your domicile.
(c) Applicable law may stipulate some exceptions or limitations, for example to the scope of agreements under this Chapter (12.), or otherwise modify the effects of agreements under this Chapter (12.), for example with regards to the application of your local imperative or other protective norms, notably but not limited to if you are a consumer. In such cases agreements under this Chapter (12.) may not apply to you or may not apply in their full scope, and/or you may have additional rights. You acknowledge and agree that agreements under this Chapter (12.) shall apply to you to the fullest extent permissible pursuant to applicable law.
(d) This Chapter (12.) will survive the termination or expiration of these Terms for any reason.
\*\*13. MISCELLANEOUS
\*\*13.1 Independent parties
Lendasat is an independent contractor but not an agent of you in the performance of these Terms. These Terms shall not be interpreted as facts or evidence of an association, joint venture, partnership, or franchise between the parties.
\*\*13.2 No third party beneficiaries
Save for where Lendasat parties or Liquidator are expressly benefiting therefrom, (i) these Terms are intended solely for the benefit of you and Lendasat (and any respective successors or permitted assigns) and shall not confer upon any other person any remedy, claim, liability, or other right or privilege; (ii) these Terms are not intended and shall not be construed to create any third party beneficiaries or to provide to any third parties with any remedy, claim, liability or other right.
\*\*13.3 Entire Agreement
These Terms constitute the entire agreement between the parties regarding use of Lendasat services and will supersede all prior written or oral agreements between the parties. No usage of trade or other regular practice or method of dealing between the parties will be used to modify, interpret, supplement, or alter the terms herein. You acknowledge that you have not relied on any statement, promise or representation made or given by or on behalf of us which is not set out in these Terms.
\*\*13.4 Events outside our control
We shall not be held liable or responsible to you nor be deemed to have defaulted under or breached these Terms for failure or delay in fulfilling or performing any obligation under these Terms when such failure or delay is caused by or results, fully or partially, from causes beyond our reasonable control, including but not limited to non-delivery, defective delivery of third party services necessary to provide the Services (including but not limited to those of our partners, vendors and suppliers), strikes, lock-outs or other industrial action by third parties, riot, invasion, terrorist attack or threat of terrorist attack, war (whether declared or not) or threat or preparation for war, fire, explosion, storm, flood, earthquake, subsidence, epidemic or other natural disaster, or failure of public or private telecommunications networks or processing times of the Bitcoin blockchain.
\*\*13.5 Severability
If any portion of these Terms is held invalid or unenforceable, such invalidity or enforceability will not affect the other provisions of these Terms, which will remain in full force and effect, and the invalid or unenforceable portion will be given effect to the greatest extent possible.
\*\*13.6 Assignment
You may not assign or transfer any right to use Lendasat Services or any of your rights or obligations under these Terms without our prior written consent. Save for when prohibited by applicable law, Lendasat may assign or transfer any or all of its rights or obligations under these Terms, in whole or in part, without notice or obtaining your consent or approval.
\*\*13.7 No waiver
The failure of one party to require performance of any provision will not affect that party's right to require performance at any time thereafter. At the same time, the waiver of one party to seek recovery for the other party's violation of these Terms or any provision of applicable terms shall not constitute a waiver by that party of any subsequent breach or violation by the other party or of the provision itself.
\*\*13.8 Headings
The chapter, article and other headings contained in these Terms are for reference purposes only and shall not affect in any way the meaning or interpretation of these Terms.
\*\*13.9 Survival
Upon termination of these Terms, your use of the Site any of the other Lendasat Services, your obligations with respect to any outstanding Bitcoin secured loan, including the Bitcoin collateral escrow, the Distribution escrow and Liquidation exchange agreement shall continue without change and any provision which, by its nature or express terms should survive, will survive such termination or expiration.
\*\*13.10 Contact us
Should you have any questions, concerns or complaints about the Site, any other of our Services, these Terms, or anything else, please contact our Lendasat team at [support@lendasat.com](mailto:support@lendasat.com).
# Borrow Euros via Bringin (/docs/p2p-loans/guides/borrow-euros)
Borrowing Euros with Bringin [#borrowing-euros-with-bringin]
Receive your Bitcoin-backed loan directly in euros to your personal vIBAN.
***
Setup (One-Time) [#setup-one-time]
Create a Bringin Account [#create-a-bringin-account]
1. Go to [bringin.xyz](https://bringin.xyz)
2. Sign up and complete onboarding
Connect Bringin to Lendasat [#connect-bringin-to-lendasat]
| Step | Action |
| ---- | --------------------------------- |
| 1 | Log into Lendasat |
| 2 | Go to **Settings → Integrations** |
| 3 | Enter your Bringin email |
| 4 | Click "Connect" |
| 5 | Confirm via email from Bringin |
| 6 | Refresh Lendasat - you're linked! |
***
Requesting a Loan [#requesting-a-loan]
Find a Loan Offer [#find-a-loan-offer]
Go to **"Find Offer"** and select:
| Field | What to Choose |
| -------- | --------------------------- |
| Amount | How much you want to borrow |
| Duration | Your preferred loan term |
| Type | **Bringin** |
Pick an Offer [#pick-an-offer]
1. Choose an offer that fits your needs
2. Enter your **Collateral Refund Address** (BTC address for return)
For privacy, use a fresh, unused BTC address.
3. Click **"Pick Offer"**
4. Lender has 24 hours to approve
Fund the Collateral [#fund-the-collateral]
Once approved:
| Action | Details |
| -------- | --------------------------------------- |
| Send BTC | To the 2-of-3 multisig address shown |
| Wait | For on-chain confirmation |
| Result | Lender transfers stablecoins to Bringin |
Receive Euros [#receive-euros]
Bringin receives the stablecoins → Exchanges for EUR → Tops up your euro account
***
Repaying Your Loan [#repaying-your-loan]
Repayments must be made in **USDC on Polygon**, even if your loan was paid out in euros.
Go to Manage Loan [#go-to-manage-loan]
Open your contract → Click **"Manage Loan"**
You'll see the repayment address (USDC on Polygon).
Send Repayment [#send-repayment]
| Requirement | Details |
| ----------- | --------------------------------------- |
| Currency | USDC |
| Network | Polygon |
| Amount | Principal + interest in one transaction |
| Proof | Submit transaction hash |
Claim Your BTC [#claim-your-btc]
Once lender verifies → BTC collateral released to your refund address.
***
Next Steps [#next-steps]
# Borrow Fiat (/docs/p2p-loans/guides/borrow-fiat)
Borrowing Fiat Currency [#borrowing-fiat-currency]
Receive your loan directly to your bank account in EUR, USD, GBP, or other available currencies.
Find a Loan Offer [#find-a-loan-offer]
Go to **"Find Offer"** and select:
| Field | What to Choose |
| -------- | ------------------------------ |
| Amount | How much you want to borrow |
| Duration | Your preferred loan term |
| Type | **Fiat** (EUR, USD, GBP, etc.) |
Browse offers and click one that suits your needs.
Enter Addresses & Bank Details [#enter-addresses--bank-details]
You need to provide **2 pieces of information**:
| Information | Purpose | Important |
| ----------------------------- | --------------------------------- | ------------------------------ |
| **Collateral Refund Address** | Where BTC returns after repayment | Use unused address for privacy |
| **Bank Account Details** | Where you receive fiat loan | Must be in your name |
Ensure your bank account supports international transfers if the lender is abroad.
Confirm and Submit [#confirm-and-submit]
1. Double-check addresses and bank details
2. Click **"Pick Offer"**
3. Lender has 24 hours to approve
Fund the Contract [#fund-the-contract]
Once approved:
| Action | Details |
| -------- | ------------------------------------------------- |
| Send BTC | To the 2-of-3 multisig address shown |
| Amount | Exact required amount or more (overcollateralize) |
| Status | Funds locked until repayment or liquidation |
Receive Your Loan [#receive-your-loan]
Once BTC is confirmed on-chain:
* Lender transfers fiat to your bank account
* Transfer includes a reference number (appears on your statement)
* Funds are yours to use immediately
***
Repaying Your Loan [#repaying-your-loan]
Start Repayment [#start-repayment]
Go to your active contract → Click **"Manage Loan"**
You'll see:
* Lender's bank account details
* Full repayment amount (principal + interest)
Send Bank Transfer [#send-bank-transfer]
| What to Send | Details |
| ------------ | ----------------------------------------- |
| Amount | Full amount (principal + interest) |
| To | Lender's bank account shown |
| Proof | Submit bank transfer reference or receipt |
Get Your Collateral Back [#get-your-collateral-back]
Once lender verifies and approves → BTC automatically sent to your Collateral Refund Address.
***
Next Steps [#next-steps]
# Borrow Stablecoins (/docs/p2p-loans/guides/borrow-stablecoins)
Borrowing Stablecoins [#borrowing-stablecoins]
Find a Loan Offer [#find-a-loan-offer]
Go to **"Find Offer"** and select:
| Field | What to Choose |
| -------- | --------------------------- |
| Amount | How much you want to borrow |
| Duration | Your preferred loan term |
| Type | Stablecoins (USDC/USDT) |
Browse offers and click one that suits your needs.
Enter Your Addresses [#enter-your-addresses]
You need to provide **2 addresses**:
| Address | Purpose | Tip |
| --------------------- | --------------------------------- | --------------------------------- |
| **Collateral Refund** | Where BTC returns after repayment | Use an unused address for privacy |
| **Loan Address** | Where you receive stablecoins | Must match the offer's network |
Ensure your loan address matches the blockchain network (Polygon, Ethereum, etc.) in the selected offer.
Confirm and Submit [#confirm-and-submit]
1. Double-check both addresses
2. Click **"Pick Offer"**
3. Lender has 24 hours to approve
Fund the Contract [#fund-the-contract]
Once approved, you'll see a Bitcoin address secured by 2-of-3 multisig.
| Action | Details |
| -------- | ------------------------------------------------- |
| Send BTC | To the provided multisig address |
| Amount | Exact required amount or more (overcollateralize) |
| Status | Funds locked until repayment or liquidation |
Receive Your Loan [#receive-your-loan]
Once your BTC is confirmed on-chain:
* Lender transfers stablecoins to your loan address
* Funds are yours to use immediately
***
Repaying Your Loan [#repaying-your-loan]
Start Repayment [#start-repayment]
Go to your active contract → Click **"Manage Loan"**
You'll see the repayment address and amount (principal + interest).
Send Payment [#send-payment]
| What to Send | Where |
| ---------------------------------- | ----------------------- |
| Full amount (principal + interest) | Repayment address shown |
| Transaction hash | Submit as proof |
Get Your Collateral Back [#get-your-collateral-back]
Once the lender approves:
* BTC automatically sent to your Collateral Refund Address
* Loan complete
***
Next Steps [#next-steps]
# Borrow with VISA Card (/docs/p2p-loans/guides/borrow-visa-card)
Borrowing to a Virtual Card [#borrowing-to-a-virtual-card]
Instead of a wallet address, link your loan directly to a spending card managed in Lendasat.
**Requirement:** Card loans are only available in **USDC on Polygon**. Repayment must also be in USDC on Polygon.
Find a Loan Offer [#find-a-loan-offer]
Go to **"Find Offer"** and select:
| Field | What to Choose |
| -------- | --------------------------- |
| Amount | How much you want to borrow |
| Duration | Your preferred loan term |
| Type | **Moon Visa Card** |
All Virtual Card offers are in USDC on Polygon.
Enter Refund Address [#enter-refund-address]
Provide your **Collateral Refund Address** - the Bitcoin address where your BTC will be returned after repayment.
For privacy, use an unused BTC address.
Select Your Virtual Card [#select-your-virtual-card]
| Option | Action |
| ----------------- | ------------------------------------- |
| **New user** | Click "Create New" to generate a card |
| **Existing user** | Select your existing Virtual Card |
The card links automatically to the loan.
Confirm and Submit [#confirm-and-submit]
1. Verify your Virtual Card is selected
2. Confirm your BTC refund address
3. Click **"Pick Offer"**
4. Lender has 24 hours to approve
Fund the Collateral [#fund-the-collateral]
Once approved:
| Action | Details |
| -------- | ------------------------------------------- |
| Send BTC | To the 2-of-3 multisig address shown |
| Amount | Required amount or more (overcollateralize) |
| Status | Contract becomes active once confirmed |
Receive USDC on Your Card [#receive-usdc-on-your-card]
Lender sends USDC to our partner → Your Virtual Card is funded → Start spending!
***
Repaying Your Loan [#repaying-your-loan]
Go to Manage Loan [#go-to-manage-loan]
Open your loan contract → Click **"Manage Loan"**
You'll see the repayment address and total amount (principal + interest).
Repay in USDC on Polygon [#repay-in-usdc-on-polygon]
| Requirement | Details |
| ----------- | ------------------------------ |
| Currency | USDC |
| Network | Polygon |
| Amount | Full amount in one transaction |
| Proof | Submit transaction hash |
Receive Your BTC Collateral [#receive-your-btc-collateral]
Once lender verifies and approves → BTC sent to your refund address automatically.
***
Next Steps [#next-steps]
# Understanding Borrowing (/docs/p2p-loans/guides/borrowing)
We've all been there. Needing cash, but preferring not to sell your Bitcoin - and for good reason, since hodling often proves to be the better choice when possible.
At Lendasat, we believe Bitcoin isn't something you sell. **It's something to use!**
***
The "Buy. Borrow. Die." Strategy [#the-buy-borrow-die-strategy]
The ultra-wealthy rarely sell their assets. Instead, they borrow against them.
CEOs and billionaires don't pay themselves large salaries - that would mean income tax. Instead, they accumulate appreciating assets and borrow against them for liquidity. No sale, no tax, no loss of upside.
Michael Saylor and MicroStrategy famously stack Bitcoin and use it as a treasury asset. The strategy? Never sell. Borrow against it when needed. Let it appreciate forever.
| Traditional Wealthy | Bitcoiners |
| ------------------------------- | ------------------------------ |
| Buy stocks & real estate | Buy Bitcoin |
| Borrow against portfolio | Borrow against BTC |
| Never sell, never trigger taxes | Never sell, keep your sats |
| Pass wealth to next generation | Pass wealth to next generation |
**Bitcoin has been "locked capital" for too long.** Hodlers sit on appreciating wealth but can't use it without selling. Lendasat changes that - unlock liquidity while keeping your BTC exposure.
With Lendasat, your BTC stays in collateral secured by a 2-of-3 multisig while you unlock liquidity right now and pay back later. **Same strategy the billionaires use - now available to everyone.**
***
Why Borrowing Beats Selling [#why-borrowing-beats-selling]
* Lose exposure to future upside
* May trigger capital gains taxes
* Compromise privacy via KYC exchanges
* Gone forever once sold
* Instant liquidity in stablecoins or fiat
* Continued exposure to BTC's long-term value
* Non-taxable event in most jurisdictions
* Your Bitcoin stays yours
***
How Much Can You Borrow? [#how-much-can-you-borrow]
| If BTC Price Is | You Want to Borrow | At 50% LTV | You Lock Up |
| --------------- | ------------------ | ------------------ | ------------ |
| $100,000 | $1,000 | $2,000 collateral | **0.02 BTC** |
| $100,000 | $5,000 | $10,000 collateral | **0.10 BTC** |
| $100,000 | $10,000 | $20,000 collateral | **0.20 BTC** |
Your Bitcoin stays yours in a non-custodial 2-of-3 multisig vault. Repay at the end of the contract and reclaim your BTC.
**What happens to your collateral?**
| If BTC moves to... | Your 0.02 BTC is worth... | Result |
| ------------------ | ------------------------- | ----------- |
| $120,000 (+20%) | $2,400 | Still yours |
| $80,000 (-20%) | $1,600 | Still yours |
***
Can My Collateral Be Liquidated? [#can-my-collateral-be-liquidated]
Yes, if the collateral value falls below a threshold or you fail to repay on time.
| LTV Level | What Happens |
| ---------- | ------------------------------------ |
| **50-70%** | Safe zone - normal operation |
| **80%** | Warning - consider adding collateral |
| **85%** | Urgent warning - add collateral soon |
| **90%** | Liquidation triggered |
**To avoid liquidation:**
* Repay your loan early, or
* Add more BTC collateral to reduce your LTV
***
Borrowing Step-by-Step [#borrowing-step-by-step]
Create Account [#create-account]
Sign up on Lendasat and securely back up your seed phrase.
Browse Offers [#browse-offers]
Choose to request a loan and browse available lender offers.
Select Payout Method [#select-payout-method]
Pick your preferred method: Stablecoin, Virtual Card, fiat, or Bringin.
Lock Collateral [#lock-collateral]
Send your BTC collateral to a secure multisig escrow address.
Receive Funds [#receive-funds]
Get your loan disbursed to your wallet or card.
Repay & Reclaim [#repay--reclaim]
Repay at the end of the term and get your Bitcoin back.
All without selling. All without trusting a third party.
***
Next Steps [#next-steps]
# Lend Fiat (/docs/p2p-loans/guides/lend-fiat)
Creating a Fiat Loan Offer [#creating-a-fiat-loan-offer]
Earn yield on your fiat currency while helping Bitcoiners unlock liquidity without selling their BTC.
Go to Create Offer [#go-to-create-offer]
Log into Lendasat → Click **"Create Offer"**
Select Fiat Currency [#select-fiat-currency]
Choose your currency:
| Available | Examples |
| ------------------- | ----------------------------------------- |
| **Fiat currencies** | EUR, USD, GBP (depending on availability) |
Set Your Lending Parameters [#set-your-lending-parameters]
| Parameter | What to Set | Example |
| ---------------- | ------------------------- | ---------------- |
| **Amount Range** | Min-max loan size | $1,000 - $10,000 |
| **Duration** | Acceptable loan terms | 1 - 12 months |
| **LTV** | Maximum loan-to-value | 50%, 60%, or 70% |
| **APR** | Annual interest rate | 7.5% |
| **Extensions** | Allow borrower to extend? | Optional |
Lower LTV = more security for you. Even if borrower repays early, you receive full interest for the agreed term.
Enter Your Bank Details [#enter-your-bank-details]
Provide your bank account for receiving repayments (principal + interest).
Ensure your account supports incoming transfers in the chosen currency.
Create the Offer [#create-the-offer]
Click **"Create Offer"** → Your offer is now live and visible to borrowers.
***
When a Borrower Accepts [#when-a-borrower-accepts]
You'll be notified via email, Telegram, and in-app
You have 24 hours to review and approve
Requested amount, duration, and refund address
***
Fulfilling the Loan [#fulfilling-the-loan]
Review and Approve [#review-and-approve]
Check the contract request → If it matches your criteria → Click **"Approve Loan"**
Wait for Collateral [#wait-for-collateral]
Borrower deposits BTC into the 2-of-3 multisig → You're notified when funded.
Send the Loan [#send-the-loan]
Once collateral is confirmed:
| Action | Details |
| ------- | -------------------------------------- |
| Send | Loan amount to borrower's bank account |
| Decrypt | Payment details (keep confidential) |
| Confirm | Submit bank transfer reference |
***
Loan Repayment [#loan-repayment]
| Step | What Happens |
| ---- | ------------------------------------------------- |
| 1 | Borrower repays principal + interest to your bank |
| 2 | You receive notification to verify |
| 3 | Once approved, BTC refunded to borrower |
| 4 | You've earned yield securely |
***
If Borrower Defaults or Liquidation [#if-borrower-defaults-or-liquidation]
If the borrower fails to repay on time **or** LTV exceeds 90%:
| Option | Result |
| --------------------------- | -------------------------------- |
| **Receive in BTC** | Get the collateral directly |
| **Liquidate to stablecoin** | Convert and receive on a network |
Either way, you recover **full principal + full interest** as agreed.
Track all positions in your **Lender Dashboard**.
***
Next Steps [#next-steps]
# Lend Stablecoins (/docs/p2p-loans/guides/lend-stablecoins)
Creating a Loan Offer [#creating-a-loan-offer]
Earn yield on your stablecoins while helping Bitcoiners unlock liquidity.
Go to Create Offer [#go-to-create-offer]
Log into Lendasat → Click **"Create Offer"**
Select Stablecoin and Network [#select-stablecoin-and-network]
| Selection | Options |
| -------------- | ---------------------------------------------- |
| **Stablecoin** | USDC or USDT |
| **Network** | Polygon, Ethereum, Solana, Starknet, or Liquid |
To enable Virtual Card and Bringin borrowers, select **USDC on Polygon**.
Set Your Lending Parameters [#set-your-lending-parameters]
| Parameter | What to Set | Example |
| ---------------- | ------------------------- | ---------------- |
| **Amount Range** | Min-max loan size | $1,000 - $10,000 |
| **Duration** | Acceptable loan terms | 1 - 12 months |
| **LTV** | Maximum loan-to-value | 50%, 60%, or 70% |
| **APR** | Annual interest rate | 7.5% |
| **Extensions** | Allow borrower to extend? | Optional |
Lower LTV = more security for you. Even if borrower repays early, you receive full interest for the agreed term.
Enter Repayment Address [#enter-repayment-address]
Provide your wallet address for receiving repayments (principal + interest).
Ensure this address matches the stablecoin and network you selected.
Create the Offer [#create-the-offer]
Click **"Create Offer"** → Your offer is now live and visible to borrowers.
***
When a Borrower Accepts [#when-a-borrower-accepts]
You'll be notified via email, Telegram, and in-app
You have 24 hours to review and approve
Requested amount, duration, and refund address
***
Fulfilling the Loan [#fulfilling-the-loan]
Review and Approve [#review-and-approve]
Check the contract request → If it matches your criteria → Click **"Approve Loan"**
Wait for Collateral [#wait-for-collateral]
Borrower deposits BTC into the 2-of-3 multisig → You're notified when funded.
Send the Loan [#send-the-loan]
Once collateral is confirmed:
| Action | Details |
| ------- | ---------------------------------- |
| Send | Loan amount in selected stablecoin |
| To | Borrower's payment address |
| Confirm | Submit transaction hash |
***
Loan Repayment [#loan-repayment]
| Step | What Happens |
| ---- | ---------------------------------------------------- |
| 1 | Borrower repays principal + interest to your address |
| 2 | You receive notification to verify |
| 3 | Once approved, BTC refunded to borrower |
| 4 | You've earned yield securely |
***
If Borrower Defaults or Liquidation [#if-borrower-defaults-or-liquidation]
If the borrower fails to repay on time **or** LTV exceeds 90%:
| Option | Result |
| --------------------------- | --------------------------------------- |
| **Receive in BTC** | Get the collateral directly |
| **Liquidate to stablecoin** | Convert and receive on original network |
Either way, you recover **full principal + full interest** as agreed.
Track all positions in your **Lender Dashboard**.
***
Next Steps [#next-steps]
# Understanding Lending (/docs/p2p-loans/guides/lending)
Why Lend Instead of Holding Stablecoins or Fiat? [#why-lend-instead-of-holding-stablecoins-or-fiat]
We've all seen it. Sitting on stablecoins or fiat that earn nothing, slowly losing purchasing power due to inflation and central bank meddling.
At Lendasat, we believe your capital should work for you, not sleep in a wallet or bank account.
That's why we've built a secure, peer-to-peer lending platform that lets you lend stablecoins or fiat and earn Bitcoin-backed returns.
This strategy reflects the logic of smart capital allocation:
**Deploy capital, manage risk, earn predictable income.**
With Lendasat, you set the terms: the LTV, the APR, the duration.
The borrower locks up BTC as collateral in a 2/3 multisig vault.
You get paid at maturity or monthly, no matter what happens.
Why Lending Beats Traditional Yield Strategies [#why-lending-beats-traditional-yield-strategies]
Holding idle assets comes with hidden costs:
* You miss out on yield opportunities
* You lose value through inflation
* You take on platform risk if using centralized services
Lending on Lendasat, by contrast, gives you:
* Access to non-custodial, Bitcoin-backed loans
* Safe principal and interest repayments
* Full control over your risk (through LTV and loan terms)
* A simple, transparent way to earn yield
It's the smartest way to put your capital to work, while helping Bitcoiners unlock their liquidity without selling.
How Much Can You Earn? A Simple Scenario [#how-much-can-you-earn-a-simple-scenario]
Let's say you lend $1,000 to a borrower at 10% APR for a 12 month term.
* You set a 50% LTV ratio, meaning the borrower will have to lock $2,000 worth of BTC into multisig 2/3
* After 12 months, you receive $1,100 back (your $1,000 + 10% interest)
* The borrower keeps their BTC, you earned a predictable return
No price exposure. No custody risk. No surprises.
Just stable, fixed-income backed by digital gold (Bitcoin).
What Happens if the Market Drops? [#what-happens-if-the-market-drops]
If the BTC price falls significantly during the loan, the LTV increases.
As soon as the LTV hits 90%, you will receive an alert inviting you to trigger liquidation.
In that case:
* The borrower's BTC collateral is sold
* You receive your principal and interest in full, directly
* Any excess BTC is returned to the borrower
Thanks to the multisig and manual triggers, you're always protected, even in volatile conditions.
Lending Step-by-Step [#lending-step-by-step]
Here's how lending works on Lendasat:
1. Create your lender profile and secure your wallet
2. Define your loan offer: choose the LTV, APR, duration, and amount
3. Set your preferred payout asset and network (USDC, USDT, fiat, etc.)
4. Wait for a borrower to accept your offer
5. When the BTC collateral is locked, send the loan principal
6. Receive full repayment (principal + interest) at maturity, monthly or automatically in case of liquidation
All without managing custody. All with your capital secured by Bitcoin.
Next Steps [#next-steps]
* Learn about [contract terms for lenders](/docs/p2p-loans/concepts/contract-terms)
* Follow a step-by-step tutorial to [lend stablecoins](/docs/p2p-loans/guides/lend-stablecoins)
* Explore [lending fiat](/docs/p2p-loans/guides/lend-fiat)
# Virtual Card (/docs/p2p-loans/guides/virtual-card)
The Lendasat Virtual Card lets you spend your loan instantly, just like a traditional debit card - no off-ramping or bank interaction needed.
Powered by [Moon](https://paywithmoon.com/). No bank account or KYC required (except for U.S. citizens).
***
How It Works [#how-it-works]
Request Loan [#request-loan]
Choose "Virtual Visa Card" as your payout method when requesting a loan.
Card Generated [#card-generated]
A card is created instantly after loan approval.
Start Spending [#start-spending]
Use your card for online purchases worldwide wherever Visa is accepted.
Currently only available in **USDC on Polygon**. More networks coming soon.
***
Use Cases [#use-cases]
Use at most online merchants where Visa is accepted
No waiting for off-ramp transfers after disbursement
Shop in 130+ countries without currency exchange
Manage your card and loan in one place
***
Spending Limits [#spending-limits]
| Limit Type | Amount |
| --------------------------- | --------------------------- |
| Monthly spend (non-US) | **$4,000** |
| Monthly spend (US) | **$4,000** across all cards |
| Single card limit (US only) | **$1,000** per card |
| Max single top-up | **$10,000** |
| Daily top-up limit | **$10,000** |
***
Fees [#fees]
| Fee Type | Amount |
| ------------------------ | ------------------ |
| Purchase fee | **1%** (min $1.00) |
| FX / Foreign transaction | **Free** |
| Card validity | **3 years** |
***
Mobile Wallet Support [#mobile-wallet-support]
Apple Pay, Google Pay, and Samsung Pay are **not yet supported** - coming soon!
***
Why Was My Purchase Declined? [#why-was-my-purchase-declined]
| Reason | Solution |
| ----------------------------------- | --------------------------------------- |
| Card details entered incorrectly | Double-check card number, expiry, CVV |
| Insufficient balance | Ensure balance covers fees and gratuity |
| Merchant doesn't accept card | Try a different merchant |
| Restricted country/category | See restrictions below |
| Warehouse/freight forwarder address | Use your direct address |
***
Country Restrictions [#country-restrictions]
You can shop at merchants in **130+ countries**.
**Restricted Countries:** Afghanistan, Albania, Belarus, Bosnia Herzegovina, Bulgaria, Burkina Faso, Cameroon, Central African Republic, China, Crimea Region, Croatia, Cuba, Democratic Republic of the Congo, Donetsk/Luhansk Regions, Ethiopia, Greece, Guinea-Bissau, Haiti, Iran, Iraq, Kenya, Kosovo, Lebanon, Libya, Macedonia, Mali, Moldavia, Monaco, Montenegro, Montserrat, Mozambique, Myanmar, Namibia, Nicaragua, Nigeria, North Korea, Panama, Philippines, Romania, Russia, Senegal, Serbia, Slovenia, Somalia, South Africa, South Sudan, Sudan, Syria, Tanzania, Tunisia, Turkey, Ukraine, Venezuela, Vietnam, Yemen, Zimbabwe.
***
Merchant Restrictions [#merchant-restrictions]
Certain purchases are prohibited:
* Wires, Money Orders
* Security Brokers/Dealers
* Foreign/Non-Fiat Currency
* Betting/Casino
* Online Casinos
* Lotteries
* Horse/Dog Racing
* Dating & Escort Services
* Massage Parlors
* Direct Marketing
* Telemarketing Merchants
* Cash Disbursements
For full details, refer to Moon's terms of service.
***
Track & Manage [#track--manage]
View your balance, transaction history, and top-up options directly from your Lendasat dashboard. No separate account needed.
***
Need Help? [#need-help]
If none of the above applies to your issue, contact us at [support@lendasat.com](mailto:support@lendasat.com).