The pool fronts the rest. You repay from yield. Score 700+ unlocks.
| Score | Tier | You put up | Pool fronts | APY | $10k bond split |
|---|---|---|---|---|---|
| 550 | No credit | 100% | - | - | own $10,000 |
| 700 | Starter | 80% | 20% | 8.0% | own $8,000 / pool $2,000 |
| 750 | Standard | 70% | 30% | 7.0% | own $7,000 / pool $3,000 |
| 800 | Premium | 50% | 50% | 6.0% | own $5,000 / pool $5,000 |
| 850 | Premium | 40% | 60% | 5.0% | own $4,000 / pool $6,000 |
| 900 | Elite | 30% | 70% | 4.0% | own $3,000 / pool $7,000 |
| 950 | Elite | 20% | 80% | 3.5% | own $2,000 / pool $8,000 |
| 1000 | Elite | 10% | 90% | 3.0% | own $1,000 / pool $9,000 |
Floor: score 700. Below that, you post 100% yourself.
Yield-bearing receipt of your bond. Like JitoSOL for staking.
Lock 1,000 USDC, mint 1,000 tsUSDC at rate 1.00.
Yield accrues. After 6 months, rate is 1.045.
Burn 100 tsUSDC, get 104.5 USDC back.
Score 850, asking $10k bond. Request → settle → claim → unwind.
Score 850 → put up $4k, pool fronts $6k @ 5% APY.
$10k lands in bond vault. credit_position PDA tracks the $6k debt.
DApps' view_bond CPI returns the full bond. Split is invisible to them.
Bond yield routes to credit_position. No manual repay needed.
withdraw_bond settles credit_position first. Remainder + yield returns to wallet.
$8k ForUser ruling: own $4k paid first, then $4k off pool's loan. Score drops, tier downgrades.
NCN slashing relay kicks in: restakers (JitoSOL / sSOL) take proportional cut. Last line of defense.
Waterfall: own bond → tsUSDC collateral → pool.
Always paid first. Skin in the game never goes away.
Liquidated on Drift / Kamino if used as collateral elsewhere.
Pool covers the rest. Depositors earn premium during normal ops.
Boost opens when the underwriter pool launches. Every successful action lowers your future rate.