Lend
Supply to the pool these loans are funded from. Your share of the pool gains value as borrowers' weekly bond yield arrives. It can lose value too - read the risk box below before you deposit anything.
How the pool works
The pool is an ERC-4626 vault: you hold shares, and the share price rises with the lender share of harvested bond yield, released over the period it accrued across rather than in a lump. The controller-scoped withdrawal flow described below is the accepted replacement design for the next deployment. The verified Base Sepolia pool deployed on 19 August still has the historic FIFO queue. In the replacement, withdrawals are limited by the pool's idle USDC. For more, your wallet can hold one withdrawal request with a receiver fixed when you create it. You or an operator you approve chooses when and how much currently serviceable value to convert into a claim. The receiver can pull the USDC, or anyone can trigger claimFor(receiver); either route pays only that fixed receiver. Each request is quoted a cash floor when it is filed, and earlier floors are served ahead of later requests and of instant withdrawals; there is no promised service time, and a floor can be locked after a loss of the pool's own cash (see the risk box below). If a borrower is being liquidated, the pool marks down what it expects that position to lose straight away, so an exit already carries the mark-down.
The pool has never held a cent, and this app takes no deposits.
The contract was built on 10 August and deployed to Base Sepolia on 19 August, where it is live and verified. It holds nothing, and it is not yet wired as the protocol's source of loan liquidity, so it can neither fund a loan nor take a loss. 33Labs' external audit of the pool's source is complete (scope and findings), but this testnet deployment predates its fixes, and the public pool stays closed until the remaining launch gates are met.
The contract itself does not refuse a deposit: anyone calling it directly can put in up to its $25,000 cap today. Money sent that way funds no loan, carries every risk in the box below, and has no deposit or withdraw button on this site.
Want to follow it as it changes? The community bot posts protocol events in the Recoup Telegram group.
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- Pool contract built and deployeddone · 19 Aug
- External audit of the pool's sourcedone · 22 Sep
- Wired in and funded on testnetin progress
- Public lender launchto come
Read the risk box below before any of this matters to you. It has not been softened.
Funded by 10% of every harvest. It absorbs auction shortfalls before any loss is socialised to lenders.
WORKED EXAMPLE · NOT FROM CHAINOPEN +CLOSE -What this screen will show once the pool holds something.
What this screen will show once the pool holds something: total assets, share price, idle float and an illustrative rate. None of it is a record of anything, because nothing has happened yet.
Worked example of the Phase 4 pool. It holds nothing and has paid no one, so the assets, share price and APY below are not records of anything. The insurance fund is the exception - that one is read from the contracts.
Not launched: this app takes no deposits. The pool was built on 2026-08-10 and deployed on Base Sepolia on 2026-08-19, where it is live and verified, and the contract accepts a direct deposit up to its cap. It is not yet wired as the protocol's source of loan liquidity and holds nothing, so a deposit would sit idle rather than fund a loan. The external audit of the pool's source is complete; the public pool still waits on the rest of Phase 5.
When the pool opens, the deposit button unlocks only after all six are ticked. Ticking is a record for you, not a waiver.
With no wallet connected, your ticks last for this browser session only.
Accepted replacement design, not yet deployed: each wallet controls at most one live request. Its receiver cannot change. You or an operator you approve can choose when and how many currently serviceable shares to convert at the live exit price. Those shares stay invested until service. The receiver can claim, or anyone can trigger the transfer with claimFor(receiver); the destination cannot be changed. Each request is quoted a cash floor when it is filed, and earlier floors are served ahead of later requests and of instant withdrawals; there is no promised service time. A floor is not a guarantee: after a loss of the pool's own cash the floors can lock every queued request, as the risk box above says. The verified 19 August Base Sepolia pool still uses the historic FIFO queue.
No live withdrawal request. When you file one, these four fields fill in.