SPRAG

First loan that pays itself back from memecoin pool fees: pledge stocks or ETH, keep them, and let the volume clear your debt.

[SPRAG @SPRAG_RH]

$SPRAG IS LIVE

The first loan that repays itself from memecoin pool fees, Now live on Robinhood Chain.

- Pledge stocks or ETH
- Borrow USDG
- Pick a memecoin pool
- Every swap pays your debt down

Your stocks are never sold

The memecoin chart can't liquidate you

The loan gets lighter the longer you hold it

CA: 0x6f3d7f33b3bb92c2bf5e918cf9959a78aca11be8

[SPRAG @SPRAG_RH]

@Cryptomythz 👀

[SPRAG @SPRAG_RH]

Liquidation protection is live on Sprag

If your collateral slides toward its liquidation price, the vault clears part of the debt before a liquidator can -from your position's trading fees first, then a slice of its liquidity.
Your collateral stays where it is.

It runs on its own, anyone can trigger it, and Sprag takes no fee for it.

[SPRAG @SPRAG_RH]

small update, big one for anyone who bounced off the borrow page.

someone told me straight: "this is another language to non-defi people, and the numbers only show up after messing with the fields." they were right.

so /borrow now opens on the simple version, two questions:
- how much do you want to borrow
- what do you own that backs it

pool, range, slippage, all of it - picked for you, and the answer shows up while you type: "clears itself in about N days", fees vs interest, in plain words.

then one checkbox and open, that's the whole thing.

the full builder didn't go anywhere. it's under "adjust it yourself".

[SPRAG @SPRAG_RH]

you're right, it reads like a tool for people who already know what a tick range is, which is nobody I'm trying to reach.

next ship: one button, "recommended" - deepest pool, safe range, done, the knobs move under an "adjust yourself" fold for the ones who want them.

thanks for saying it straight

[SPRAG @SPRAG_RH]

@Schina111 anon for now, and i won't pretend otherwise

what i can point you to instead: the contracts are public, the lending runs on Morpho, the liquidity is owned by your own wallet, and exposure is capped at 20k so a rug wouldn't be worth much

verify the code, not me!

[SPRAG @SPRAG_RH]

Leverage that pays for itself.

Pledge NVDA, Borrow USDG against it, The borrow goes into the NVDA/USDG pool - half of it becomes NVDA again, so you hold up to 1.3× what you pledged.

The difference from every other leveraged long: no interest bill, The pool's traders pay the loan down.

One click on https://t.co/bDA9hYmfbj
Also AAPL, GOOGL, SPCX.

[SPRAG @SPRAG_RH]

shipped two things for people who actually hold $SPRAG

1/ the rewards pool now counts what's in your wallet. hold 1M+ SPRAG and your loan gets a 1.5x weighted cut of every round. same pool, bigger slice, no new promises.

2/ points, one per USDG per day your position stays open, counted from the first block ever - every borrower so far is already on the board, holders get 1.5x here too.

no snapshot, no form, nothing stored. it's read straight off the vault's events, so anyone can recompute it.

what the points turn into gets announced when season 0 end, not before.

https://t.co/T9oSmIAbDo

[SPRAG @SPRAG_RH]

your collateral sits in a @Morpho market, not with us. we can't touch it, and it's never sold

the liquidity from your loan is a Uniswap position your own wallet owns. our keeper can only push fees onto your debt, nothing else

what can still take it: normal liquidation, if your collateral price drops or interest builds up too far

[SPRAG @SPRAG_RH]

@anon_wildman @AltcoinMillie 🔨

[SPRAG @SPRAG_RH]

Sprag Earn is live now!

Lend USDG to the same Morpho markets Sprag borrowers draw from, and take the rate they pay, Your USDG goes from your wallet straight to Morpho,We never hold it

Live right now: USDe 3.90%, syrupUSDG 3.55%, mGLO 4.86%, wsNET 32.69%. Variable, not promised: it's the borrow rate times the share of the pool actually lent out.

Most stock markets pay 0% today because nobody borrows there yet, Supplying into one is what makes that collateral usable on the Borrow page, The lenders decide which stocks work.

And the loop closes: 5% of every pool fee Sprag harvests now flows into the rewards pool, which pays down open loans. Borrowing feeds the fund that repays borrowers.

Next: SPRAG staking, once that fee flow is worth sharing.

[SPRAG @SPRAG_RH]

happy to do it here

your borrowed USDG becomes a Uniswap position your wallet owns, every swap in that pool pays it a fee, and a keeper harvests those fees onto your debt. at zero, your collateral unlocks and the liquidity is yours

caveat: out of range = no fees, and slow volume = slow repayment while interest still runs

[SPRAG @SPRAG_RH]

@sigmma001 you still owe it, you're just not the one paying it, trading fees from the pool do that, and if volume dries up repayment slows down, you can always close early and settle it yourself

[SPRAG @SPRAG_RH]

Sprag, day one with real borrowers, Every number below is on-chain

5 loans open, $530 borrowed, 4 wallets, Hours after opening, $25.30 of that debt is already paid down. Not one cent came from the borrowers' wallets.

Loan by loan, principal → paid down so far:

350 USDG → 16.75 USDG (4.8%)
80 USDG → 3.79 USDG (4.7%)
50 USDG → 2.36 USDG (4.7%)
25 USDG → 1.18 USDG (4.7%)
25 USDG → 1.18 USDG (4.7%)

Two sources : Trading fees earned by their liquidity in the PONS pool, which is the mechanism itself, And a rewards pool we funded ourselves, paid out to every open loan in proportion to its size, Collateral never touched, never sold.

That rewards pool is our thank-you to the people who trusted a day-old protocol with real money, Consider today a preview: the pool refills, and the ways it pays out will change as we ship, Early borrowers are the ones we remember.

Next up: Earn, lend USDG into the same markets and take the borrow rate. Then Stake, where SPRAG staked earns a share of protocol fees.

Building both now!

[SPRAG @SPRAG_RH]

@mistabdi solid feedback, thank you

fees are going into the $SPRAG pool and earn first, once that's shipped, distribution to holders follows, want the revenue to be real before splitting it

noted on the account too 🙏

[SPRAG @SPRAG_RH]

next thing i'm building for sprag: liquidation protection

before the market can touch your collateral, the position pays itself down first, fees first, then some liquidity, collateral last

we can do this because we know where your loan is, it's in a pool, earning

soon 🔨

[SPRAG @SPRAG_RH]

how sprag actually works, and where your money sits

you pledge collateral and borrow USDG. that borrow runs on @Morpho - the same contracts behind Robinhood Earn, billions in deposits, audited for years. every market is separate, so one bad pool can't hurt another

the USDG then becomes a @Uniswap position owned by your own wallet. trading fees from that pool pay your loan down. your collateral is never sold

the only new piece is the vault connecting the two. that one's ours, and it's new, so we capped everything at 20k USDG instead of opening it up and hoping for the best

proven lending, proven liquidity, one small new piece, kept small until it earns the right to grow

contracts are public. read them: https://t.co/c2SyGmnZA2

[SPRAG @SPRAG_RH]

@rustyclanker 🔨

[SPRAG @SPRAG_RH]

@AltcoinMillie not arguing with you on the chart, i can't control that, what i can control is shipping, so that's what i'm doing

[SPRAG @SPRAG_RH]

sprag just got a lot bigger

25 pools you can put your loan to work in now

Memes: PONS, AI, CASHCAT, INDEX

Stocks: NVDA, AAPL, TSLA, SPY, AMZN, MSFT, MSTR, NFLX, HIMS, RDDT, DJT, CRCL, MU, LLY, COST, DELL, IBM, AMC, F, GLD, SLV

also added new collateral: USDe, syrupUSDG, spUSDG, mGLO

pick a pool, borrow, and let the trading fees pay it off

[SPRAG @SPRAG_RH]

@MrbossOfficiial thank you.. the idea is simple: your loan shouldn't sit idle, at sprag it earns fees in a pool, and those fees pay it back

[SPRAG @SPRAG_RH]

day 1 of sprag being live and honestly it's still rough around the edges

right now it does one thing: you borrow, your loan goes into a memecoin pool, and the fees pay it off

more pools are getting added as they pass the listing checks. and there's something coming for people who hold $SPRAG. not ready to talk about it yet

if you try it, tell me what sucked. that's literally how i decide what to build next