You interact with these protocols directly from your wallet. GetEquity never holds your
collateral or your loan and cannot move them.
Markets
Borrow up to is the highest loan-to-value (LTV) a new borrow or a collateral
withdrawal may leave. Liquidation at is the LTV at which anyone may liquidate the
position. Morpho uses one number for both; Kamino keeps a small gap between them, so a
loan taken at the limit is not immediately liquidatable.
Addresses are on the Base addresses
and Solana addresses pages.
How a loan works
1
Post collateral
Deposit gNTB into the market. It stays yours: it sits in the lending protocol, not
with GetEquity, and keeps accruing in price.
2
Borrow cNGN
Borrow up to the market’s limit against the collateral’s current value. The cNGN
goes to your wallet.
3
Watch your health
Interest accrues on the loan every second. Health = collateral value × liquidation
LTV ÷ debt. Above 1.0 you are safe; at or below 1.0 the position can be liquidated.
4
Repay and withdraw
Repay any amount at any time, then withdraw collateral. There is no term and no
prepayment penalty.
Interest rates
Rates are variable and set by utilisation, the share of supplied cNGN that is borrowed:- Base (Morpho): the AdaptiveCurveIRM targets 90% utilisation. Above the target the rate climbs to 4× the target rate at 100%; below it, it falls to ¼ at 0%. The target rate itself drifts over time towards the level that keeps utilisation near 90%.
-
Solana (Kamino): a fixed curve on the cNGN reserve, straight lines between set
points (devnet values):
In normal times borrowing stays under the collateral’s yield, about 12% at 85%. Above 90% the rate climbs steeply so borrowers repay and lenders return, which keeps lenders able to withdraw.
Lending or holding the asset?
Lending cNGN usually pays less than holding the collateral asset itself. If gNTB yields 14.5% and the market settles at a 12% borrow rate with 90% of the cNGN lent out, lenders earn about 12% × 90% ≈ 10.8%. Borrowers set that ceiling: borrowing to keep or add to a gNTB position only pays while the loan costs less than gNTB earns. The two are different investments, so the gap is not a reason to avoid lending:
Lending suits holders of cNGN who want a return on it without owning an RWA, for example
treasuries, market makers between trades, cash waiting to be invested, or funds whose mandate
does not allow RWAs. Compared with idle cNGN at 0%, a lending return is the relevant
benchmark, not the asset’s yield.
The gap is also not fixed. When most of the cNGN is lent out, the rate rises steeply, and for
that period lenders can earn more than the asset yields. Anyone who simply wants the asset’s
return is better served by buying the asset.
Liquidation
When health falls to 1.0 or below, anyone may repay part of the debt and take the same value of collateral plus a bonus: about 7.4% at a 77% liquidation LTV on both chains. You keep the rest of your collateral and the cNGN you borrowed. To avoid it, repay some cNGN or add collateral before health reaches 1.0.How collateral is priced
Both markets price gNTB from GetEquity’s on-chain price: the same accrued price the Market trades at, which grows every second at the asset’s rate (see yield and accrual).- Base: an
RWAPriceOracleexposes the Market’s live price as a Chainlink-style feed, wrapped in Morpho’s standardMorphoChainlinkOracleV2. It reverts rather than return a zero or stale price, so borrows pause instead of mispricing. - Solana: a Scope price feed on Kamino’s oracle program carries gNTB’s accrued price in cNGN, with cNGN fixed at 1.
Risks to know before you borrow or lend
Next
Credit on Base
Morpho Blue calls to supply, borrow, repay and withdraw.
Credit on Solana
Kamino Lend instructions, reserves and the price feed.