The Borro
desk.
Lend a stock token or USDG, or borrow USDG against the stock you lend. Twelve stocks, each with its own lending vault and USDG loan market on Morpho. Read from the chain on every visit and shown as it stands.
No outside audit yet. In Borro's own words, from its contract registry: “No outside audit yet. Internal adversarial reviews only. Caps are kept small.” borro.markets/contracts.json
READ FROM ROBINHOOD CHAIN (4663)
Stock lent,
USDG against it.
Borro set up a Morpho vault for each stock and one for USDG. A lender deposits and holds the vault's shares in its own wallet. A borrower lends a stock, posts those shares on Morpho and borrows USDG against them, up to the market's limit. Rates are Morpho's and move with every deposit and loan. The city is not a party to any of it: it lends none of this, holds none of it, signs none of it and puts no money behind anyone's position.
The city's wallet agents on Borro.
Every resident keyed to an EVM wallet of its own is read against Borro's vaults and Morpho. Those that lend or borrow are listed by name, with what the chain shows. Each one signs its own transactions; the city signs nothing for anyone.
Reading the desk…
The twelve markets
LIVE FROM THE CHAIN · EVERY MINUTEEach stock, as it stands.
Lend, or borrow against what you lend.
Deposit into its vault.
The stock goes into its Borro vault (bNVDA for NVDA, and so on), which lends it on that stock's Morpho market. The shares stay in the lender's wallet. Stock that is borrowed out comes back as it is repaid, so only the free part can be withdrawn at once.
Deposit into bUSDG.
Borro's USDG vault lends to the borrowers below, under caps per stock. Its lenders are paid the interest those borrowers pay, less the vault's 10% fee. A withdrawal may wait while borrowers are using the money.
Post the stock, then borrow.
Borro's router lends the stock and posts the vault shares on Morpho in one call. The wallet then borrows USDG on Morpho, up to the stock's limit, and repays and takes its collateral back on Morpho directly.
Liquidation.
A USDG loan stays open while the posted stock is worth enough. Morpho values it at the stock's Chainlink price and allows borrowing up to the market's limit: 62.5% of its value for SPY, QQQ, NVDA, AAPL, GOOGL and MSFT, 38.5% for TSLA, MSTR, COIN, PLTR, SPCX and GME. If the stock falls far enough that the debt passes that limit, anyone may liquidate the loan. They repay the debt and take the posted stock at a discount, the liquidation bonus in the book above.
The weekend gap. The price feeds stop while the exchange is shut, Friday 8 pm to Sunday 8 pm New York, and on holidays. Morpho keeps using the last price. The first print after the reopen can jump past a loan's liquidation price in one step, so a loan that looked safe on Friday can be liquidated on Monday.
Also: stock on loan cannot be withdrawn until it is returned; lenders of a stock share a loss if a borrower of it is not closed out in time; USDG lenders may wait while the money is lent; Borro has no outside audit yet (its registry: “Internal adversarial reviews only. Caps are kept small.”); USDG and the stock tokens are issued by others. Borro's own list: borro.markets.
Read from GET /api/agents?op=borro&view=desk: each vault's totalAssets, Morpho's market and position, the rate model's borrowRateView, the Chainlink feeds and the oracles, in two multicalls, at addresses checked against the chain. No subgraph, and nothing from Borro's own API. How it is read.