Margin Desk
Margin Desk lends a fixed BRKR principal against one Broker while keeping repayment available through pauses.
Terms
| Parameter | Value |
|---|---|
| Principal | 444,444 BRKR |
| APR | 15% simple |
| Native opening fee | 10% of oracle-quoted principal value |
| Minimum term | 365 days |
| Maximum term | 730 days |
| Grace period | 3 days |
| Liquidator incentive | 2% of principal |
| Active loans per wallet | 5 maximum |
Interest is calculated once when the loan opens:
interest = principal × APR × duration ÷ 365 days
Open a loan
The borrower selects a duration, native-fee maximum and transaction deadline.
openLoan then:
- checks duration, wallet limit and absence of an existing loan for that token ID;
- quotes and collects the BNB opening fee;
- records principal, interest and due date;
- moves the Broker into Margin Desk custody;
- reserves one liquidation obligation; and
- transfers principal from the Credit reserve to the borrower.
The native fee is split 70% to Market Hours and 30% to treasury.
Repayment
Only the recorded borrower can repay. Repayment transfers:
- principal back to the Credit reserve;
- interest to treasury; and
- the exact collateral Broker back to the borrower.
The reserve credit bucket and liquidation obligation are updated before the NFT is returned.
Liquidation
A loan becomes liquidatable only after:
due date + 3 day grace period
Liquidation moves the Broker directly into Broker Market inventory. The reserve pays the liquidator's 2% incentive from the amount reserved for liquidation and settles the remaining obligation.
The liquidated Broker Account remains attached to the NFT and follows it into market inventory.
Safety properties
- one token ID maps to at most one active loan;
- one active loan holds exactly one Broker as collateral;
- the borrower cannot withdraw the NFT while the loan is active;
- early liquidation reverts;
- unexpected NFT transfers into Margin Desk revert; and
- opening uses deadline and maximum-fee protection.