SBOR · Standard Bitcoin Offered Rate

The daily reference rate for borrowing dollars against bitcoin. Read from lending contracts, posted on-chain. Free to read, built for agents.

[SBOR · Standard Bitcoin Offered Rate @SBORindex]

The SBOR white paper is out.

What a reference rate for loans against bitcoin must be, how SBOR computes it, and what changes when lenders and borrowers use the same rate.

Stamped on Bitcoin, Arc, Base, Hyperliquid, Solana and Stacks.

https://t.co/sbhErAuZUB

[SBOR · Standard Bitcoin Offered Rate @SBORindex]

Borrowing dollars against bitcoin cost 5.45% in this morning's fixing, down from 6.00% a day earlier.

The largest market, USDC against cbBTC on Morpho on Base, went from 6.26% to 5.71%.

Every market behind it at https://t.co/BNKmdst0Cf

[SBOR · Standard Bitcoin Offered Rate @SBORindex]

5% and 5% are not always the same rate. Protocols quote on different bases, and a nominal 5% compounded continuously costs 5.13% over a year. SBOR converts each market's rate to one effective annual basis before it averages them. https://t.co/ErP0ceQTHH

[SBOR · Standard Bitcoin Offered Rate @SBORindex]

Borrowing dollars against bitcoin cost 6.00% in this morning's fixing, up from 5.10% a day earlier.

The largest market, USDC against cbBTC on Morpho on Base, went from 5.30% to 6.26%.

Every market behind it at SBOR.

[SBOR · Standard Bitcoin Offered Rate @SBORindex]

Check it yourself. The PDF's SHA-256 is eb87f320b33ff590a6bab498167ee2d192525f7c3edc28604a2af13a66cfe638, posted on all six chains on 25 October. The page checks the file in your browser and links every transaction.

[SBOR · Standard Bitcoin Offered Rate @SBORindex]

The SBOR white paper is out.

What a reference rate for loans against bitcoin must be, how SBOR computes it, and what changes when lenders and borrowers use the same rate.

Stamped on Bitcoin, Arc, Base, Hyperliquid, Solana and Stacks.

https://t.co/sbhErAuZUB

[SBOR · Standard Bitcoin Offered Rate @SBORindex]

@muneeb That is awesome news!

[SBOR · Standard Bitcoin Offered Rate @SBORindex]

Every lending pool has two prices: what borrowers pay and what lenders earn. Lenders earn less, because only part of the pool is lent out and the protocol keeps a share. That is why SBOR publishes two rates, a borrow rate and a supply rate, every day. https://t.co/ErP0ceQTHH

[SBOR · Standard Bitcoin Offered Rate @SBORindex]

What a dollar costs, 21 Oct. Rate, then utilization.

Stacks, SBOR-USD, against crypto collateral: 2.83%, 56.92%
Against plain bitcoin, BTC-COLLATERAL-USD, 19 markets on 5 chains: 5.08%, 89.71%
Against US Treasuries, SOFR (19 Oct): 3.87%

[SBOR · Standard Bitcoin Offered Rate @SBORindex]

An app shows you a rate. The lending contract is what charges it. SBOR reads its rates from the contracts' own state every morning, and lists every market behind each number on the site, so anyone can check the source. https://t.co/ErP0ceRrxf

[SBOR · Standard Bitcoin Offered Rate @SBORindex]

SBOR-BTC, 20 Oct fixing: borrow 1.50%, supply 1.34%.
19 Oct: 1.30% and 0.81%.

Its one market, sBTC on Zest, went from 70.62% to 99.97% utilization over the same two fixings.

[SBOR · Standard Bitcoin Offered Rate @SBORindex]

@shafu0x @circle @USDC @arc Welcome to Circle. SBOR reads Arc’s cirBTC/USDC market every morning and posts the benchmark rate for borrowing dollars against bitcoin on Arc: 4.99% today. What we’d like: Circle Wallets apps showing it before a user borrows. https://t.co/ErP0ceQTHH

[SBOR · Standard Bitcoin Offered Rate @SBORindex]

First stablecoin sub-rate: borrowing RLUSD against bitcoin costs 3.70% today (BTC-COLLATERAL-RLUSD), beside 5.06% for USDC. One rate per stablecoin once $25M of it is weighted in.

[SBOR · Standard Bitcoin Offered Rate @SBORindex]

PoX cycle 144 paid 7.859 BTC to STX stakers, up 58.9% on cycle 143, with 448.3M STX locked, up 1.5%. Every cycle, read from the chain, formula shown: https://t.co/ErP0ceQTHH

[SBOR · Standard Bitcoin Offered Rate @SBORindex]

@StackingDao @Stacks For anyone tracking sBTC rates on Stacks: SBOR reads them daily from contract state. Today’s fixing: SBOR-BTC supply 0.82%. https://t.co/ErP0ceQTHH

[SBOR · Standard Bitcoin Offered Rate @SBORindex]

@arc @aave @0xKolten More lending on Arc. SBOR’s benchmark for borrowing dollars against bitcoin is posted on Arc every day. Today’s fixing: 5.10% (BTC-COLLATERAL-USD). https://t.co/ErP0ceQTHH

[SBOR · Standard Bitcoin Offered Rate @SBORindex]

Built for AI agents. Before your agent borrows, it can check the offer against SBOR. Free MCP server, no key: npx -y sbor-mcp. Each day’s rate is also posted on-chain on Arc, Base, Hyperliquid, Solana and Stacks.

[SBOR · Standard Bitcoin Offered Rate @SBORindex]

What does it cost to borrow dollars against bitcoin? SBOR reads the lending contracts every morning and publishes one dated rate. 16 October: 5.10% to borrow, across 20 markets on 6 chains and $3.1B supplied. Every market behind it is shown. https://t.co/ErP0ceQTHH

[SBOR · Standard Bitcoin Offered Rate @SBORindex]

The same bitcoin, borrowed in different dollars. 16 October: 5.23% in USDC on Base, 2.99% in USDT on Ethereum, 1.79% in USD1 on BNB Chain. One reference rate puts them side by side.

[SBOR · Standard Bitcoin Offered Rate @SBORindex]

Is 6% a good rate to borrow dollars against bitcoin? Alone, a rate tells you nothing. Credit markets judge offers against a published market rate, like SOFR for dollars borrowed against Treasuries. SBOR publishes one for dollars borrowed against bitcoin. https://t.co/ErP0ceRrxf

[SBOR · Standard Bitcoin Offered Rate @SBORindex]

@Stacks @muneeb @token2049 Borrowing dollars against bitcoin on Stacks has a daily price. Today’s fixing: 2.78% (SBOR-USD), read from lending contracts. https://t.co/ErP0ceRrxf