Live on megaethTestnet
The open market
for on-chain credit.
Soko connects people and businesses who want to earn on idle stablecoins with those who want to borrow against their crypto. Smart contracts hold the funds and set the rates. We never do.
- Non-custodial
- Over-collateralised
- Every rate on-chain
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Total supplied
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Lent to borrowers
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Available now
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Live markets
How it works
Three steps. No account, no paperwork.
01
Connect a wallet
Your wallet is your login. Connecting lets Soko read your public balances and nothing more. It grants no spending rights.
02
Pick your side
Deposit stablecoins to earn, or post ETH as collateral to borrow. One wallet can do both.
03
Earn or borrow
Interest accrues every second. Withdraw or repay whenever you like, as far as pool liquidity allows.
Two ways in
Built for savers and borrowers, individuals and businesses.
Put idle stablecoins to work
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best supply APY right now
- Interest is paid by borrowers, not by token emissions
- Your balance grows every second, no lock-ups
- Withdraw whenever pool liquidity allows
Unlock liquidity without selling
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lowest borrow APY right now
- Borrow up to a set share of your collateral's value
- No repayment schedule, repay in part or in full anytime
- A live health factor and liquidation price on every position
Where your money actually sits
A contract with no private key.
Deposits move from your wallet straight into a smart contract. No company wallet sits in between, and no one on the team can move them. The contract only does what it was written to do: return your deposit, lend it against more collateral than is borrowed, or settle an unsafe loan.
What it can't protect you from: if most of a pool is lent out, withdrawals wait on repayments. And a sharp fall in collateral prices can cost borrowers part of their collateral. Soko shows both risks up front.
Your wallet
You sign every transaction
Soko pool contract
Code only. No seed phrase, no admin withdrawal
Borrowers
Always post more than they take
Questions
Good to know
What is Soko?
A lending market that runs on smart contracts. Savers deposit stablecoins into shared pools and earn interest. Borrowers post crypto as collateral and borrow from those pools. Nobody in between holds the money.
Where does the interest come from?
From borrowers. Every borrower pays a variable rate, and that interest flows to the people who supplied the pool. A share of it, the reserve factor, goes to the protocol treasury. There are no token emissions propping up the yield.
Can I always withdraw?
You can withdraw up to the unborrowed liquidity in the pool. When most of a pool is lent out, you may have to wait for repayments or new deposits. Rates rise sharply at high utilisation to make that wait short.
What happens if my collateral falls in value?
Each position has a health factor. If it drops below 1, anyone can repay part of your debt and receive some of your collateral at a small discount. The app shows your health factor and the price at which this would happen.
Do I need to sign up or pass KYC?
No account and no paperwork. Individuals and businesses use the same contracts with any compatible wallet.
Is it audited?
Not yet. This is an unaudited proof of concept. Please treat it as a test and never deposit more than you can afford to lose.
Step into the market.
Connect a wallet to see your own position. Connecting grants no spending permission, and every transaction still needs your approval.
Unaudited proof of concept. Not an offer of financial services.