Borro

Every stock on Borro and the USDG vault: price, what is lent, borrowed and free to short, what lenders earn and what shorters pay a year (one number each, $BORRO included once it has been paid), the USDG borrowing rate against each stock, and the $BORRO Drip to lenders: dollars a day per pool at today's price, and the rate a deposit of a given size would get.

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One stock's full line from the shelf: rates, sizes, limits, open fee and its contracts.

For bots that watch for liquidation: every short and USDG loan of a wallet, worst first, with how much of its limit it uses (limit_used, 1 = Morpho can liquidate it now), health (1 / limit_used), the stock price that liquidates it, how far the price is from that in percent, a status (ok, warn from 0.85, danger from 0.95, liquidatable), and the market clock. Also at /health/<wallet>.json.

Everything a wallet has on Borro: stock lent, shorts (owed, money held, the price it is closed for you at, and parts: how much of the stock's one short is the wallet's own, a pair's and a basket leg's), USDG loans, USDG lent, open pairs (each with short_now, its own part of the short), gap covers bought and its part of the gap cover pool, options held, written and on order (with what to do next and one yearly number for premiums over what they locked), bear coins it launched, $BORRO to claim, its locker rebates (the share of Borro's fees it gets back for its $BORRO lock, what is owed and what has been paid), and its ETH and USDG.

Borro-wide recent shorts opened and closed, newest first.

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For each stock token on Borro: the stock's own price (its Chainlink feed while the market is open; Borro's weekend estimate and 95% band while it is shut), the token's executable buy and sell price on chain for $1,000 and $10,000 (what Borro's short desk would pay or get through its own swap route, before Borro's fee), and the gap in percent (gapPct: the token's mid against the stock). Positive: the token trades over the stock (short it on Borro); negative: under it (buy and lend it). Refreshed every 30 seconds; the same as https://borro.markets/prices.json.

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The bear coins directory: every coin launched on Pons from Borro with its own short, its stock, P/L, burns and fees.

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Borro's house rules, limits, what can go wrong, and every contract address with what it does, to verify on chain.

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Unsigned transactions to short a stock from the wallet: approve the deposit if needed, then BorroShort.open (borrow the stock, sell it, hold the money plus the deposit). Priced now, with half a percent of slip allowed; simulated from the wallet. The quote's rebate_estimate is what this short puts in the wallet's weekly locker rebate.

Unsigned transactions to close the wallet's short on a stock: buy back everything owed, return it, take out the money held (with a USDG top-up approval if it is under water). A wallet has one short per stock, shared by any pair or basket legs on it: this closes all of it, and closes_parts lists the parts it takes with it. close_pair closes only a pair's own part.

Unsigned transactions to lend a stock to shorters (it earns lending fees) or USDG in the Borro USDG vault (it earns interest). With post: true, a stock is lent and posted in one step so USDG can be borrowed against it.

Unsigned transaction to take back lent stock or USDG (part, or all with all: true). Stock on loan to shorters comes back once it is returned.

Unsigned transaction to borrow USDG against stock already lent and posted (supply with post: true first). The quote's rebate_estimate is what this loan puts in the wallet's weekly locker rebate.

Unsigned transactions to repay USDG borrowed against a stock (part, or all with all: true).

Credits a bookrunner's code with the wallet's borrowing on Borro (Bookrunners): the bookrunner earns Borro's own fee on the interest the wallet pays, all of it for 12 months, half after; the wallet pays nothing more. Without signature: EIP-712 typed data for the wallet to sign (eth_signTypedData_v4, no transaction, no gas), good for 10 minutes. With signature and that timestamp: submits it, the same as POST https://borro.markets/builders/bind. One code per wallet; the first binding stands.

Unsigned transactions for a pair trade: buy and lend the long stock in your name (it earns lending fees while held), then short the other, approvals first. Priced now; simulated from the wallet in order.

Unsigned transactions to close the wallet's newest open pair of these two stocks: the pair's own part of the short closed (a basket leg or a short of its own on the same stock stays open, listed in stays_open), the long's lent stock taken back (what is free now, if part is on loan). If something else already closed part of the pair's short, this closes what is left and the note says so.

Unsigned transaction swapping the wallet's ETH for USDG or a stock on Uniswap, or through Route (route.fun) for a stock bought exact in when Route guarantees more (no Borro contract, no Borro fee), for the flows that need them.

Unsigned transactions for a leveraged long on a stock in one open: USDG margin plus a flash-borrowed debt buy the stock, which is lent (it earns lending fees) and posted, and the debt is borrowed against it in the wallet's own name. Approve the margin and authorize LeverRouter on Morpho if needed, then open. Leverage up to 1.80x on SPY, QQQ and NVDA, 1.35x on the rest.

Unsigned transaction closing all or part of the wallet's leveraged long on a stock: the stock is sold, the debt repaid, and the rest comes back in USDG.

Borro's stock farms: a Uniswap v4 USDG/stock pool per stock, run by Borro's own hook, that lends what swaps do not need on Borro. For each farm: its size, what is kept for swaps and what is lent, its swap fee and squeeze fee now, the lending fees and interest its lent part earns, the last day's and week's swap volume and farmers' fees, and Your APR on a $1,000 deposit as one number (fees at the last week's pace, lending fees and interest, and the $BORRO Drip at today's rate with the lent part counted 1.5x). With a wallet, its part of each farm.

Unsigned transactions to put USDG and a stock into its farm from the wallet: give usdg or stock (or both) and the other follows the farm's ratio (the feed's price for the first deposit, which sets the farm's price). Approvals of the exact amounts first, then the deposit, simulated from the wallet. Shares are accepted down to slip_bps under the quote.

Unsigned transaction to take part or all of the wallet's money out of a farm. Run from the wallet first to show what comes back now, and what comes as the vault's own shares because borrowers have it out (they keep earning and redeem on Supply once it is free). Always works: never paused, no price feed needed.

While the stock market is shut (Friday 8pm to Sunday 8pm New York, and holidays) the price feeds stop at their last print. For each stock: the paused price, Borro's weekend price and 95% band (low, high), its typical Monday gap and the last closures' gaps, and the gap cover quotes per side and strike. Also the market clock (closed since, reopens at) and the gap cover pool: what is in it, free and set aside, Borro's share, and one yearly number for what the pool earned. Nothing on chain reads the weekend price.

Unsigned transactions to buy Monday-gap cover on a stock while the market is shut (until an hour before the reopen): side up pays if the first feed print after the reopen is more than the strike above the last print (cover for a short), down if it is more than the strike below (for a long); it pays the move beyond the strike, times the cover, up to the pool's cap. Approve exactly the premium, then buy with that premium as the most it may take. Simulated from the wallet.

Unsigned transactions to put USDG into the gap cover pool, which backs every cover and keeps the premiums (less Borro's share) on top of the Steakhouse USDG vault's interest. Approve exactly the amount, then deposit. A big gap pays covers out of the pool.

Unsigned transaction to take USDG out of the gap cover pool, an amount or all: true. Capital is locked while covers are live, from the first buy of a closure until Monday's settlement; withdraw during the week. Run from the wallet first to show what comes back.

Unsigned transaction settling a cover with the feed's first round at or after its reopen (found by walking back from the latest round), with what it pays the buyer. Anyone may send it; the payout always goes to the buyer. When that first print came more than two hours after the reopen, or more than 50% from the reference, or never came in seven days, the transaction voids the cover instead (the premium the pool kept goes back).

Unsigned transaction taking USDG a settled or voided cover could not send to the wallet (it waits in the pool's owed); position shows owed_usdg.

One stock's options chain for this Friday and next (expiry Friday 8pm New York): per strike and side the series id, Borro's fair value (Black-Scholes from the stock's own measured volatility, a guide), delta, the best ask and bid (checked on chain), the IV the ask implies, the shares written and the last traded IV; the stock's price, its volatility a year and the last traded IV; and whether the desk is live, paused and its fee. Prices are dollars a share, premiums USDG a share.

Unsigned transactions to write options from the wallet: post an ask at a premium (the collateral is locked now; it fills when a buyer takes it), or with order_id sell into that bid now and receive its premium less Borro's share. A call locks one share of the stock's Borro vault per share written: from the stock (lent into its vault in the same transaction, the default) or from vault shares held (bNVDA). A put locks the strike in USDG in the Steakhouse vault: from USDG (the default) or that vault's shares held. Exact approval of the lock, then the call; simulated from the wallet.

Unsigned transactions to buy options from the best ask of a series (or a given ask with order_id), checked on chain: exact approval of the premium, then fillAsk with that premium as the most it may take. A fill takes the whole ask or leaves at least 0.001 of a share. Returns the cost, Borro's share, the break-even and what it pays at expiry.

Unsigned transactions to post a bid for a series at a premium a share: the premium for all the shares is locked now in USDG (exact approval, then postBid) and goes to the writer who fills it, less Borro's share; the option tokens come to this wallet. cancel_order takes it back while it is open.

Unsigned transaction cancelling an ask or a bid: what it still locks goes back to its maker (an ask's collateral, a bid's USDG). Only the maker may, until the series expires; then anyone may.

Unsigned transaction settling a series after its Friday 8pm New York expiry with the feed's last round at or before it, found by walking back from the latest round, once the proof holds (the next round printed after expiry, or it is the feed's latest); when the feed printed nothing in the two days before expiry, with its first round after. Gives the settlement price and what it pays a share. Fourteen days after expiry with no round to prove a price it builds void(id) instead. Anyone may send either.

Unsigned transaction burning the wallet's tokens of a settled series and taking what they pay: a call pays the stock's Borro vault shares, a put USDG (or the Steakhouse vault's shares with as_shares, for when the vault is short of free USDG). All the wallet holds unless shares is given.

Unsigned transaction giving a writer back the lock of a settled series less what its written options pay, once: stock vault shares for a call, Steakhouse USDG vault shares for a put.

Agent Credit Lines: an agent posts its AI credits (Orbio CREDIT) and borrows USDG against them inside limits its owner sets once: a ceiling, a daily limit, a target LTV and an allowlist. markets: every market lines can open in now, each with its price, one yearly borrow rate (borrow_apr), its LLTV and max target and trigger, its defaults (CREDIT: 18% and 27%, with sales), the lending cap and any write-off. For CREDIT besides, as before: the feed's 2-hour median, its anchor, the last minute's and the pool's price, the line check price, whether the price has started and anything to know (a write-off proposed or in force, a pool with no data), the depth gate, what is lent, borrowed and free, the 90% most, the room under Borro's USDG vault caps, and the contracts. gas_stations: the factory and the station rules ($100 a day by default, $5,000 at most on a line with a station on its allowlist). Before the market is on chain: the pool's price and how lines will work.

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One agent credit line (account) or the lines a wallet owns (owner: five a call, newest first; page 2 for the next five): its market, credits posted, USDG owed, LTV against its target, trigger and LLTV, a health word, what the agent can still borrow, the daily limit and what went out and is left of it today, the price at which it can be liquidated, its agent, keeper, owner, allowlist and sale settings, the agent's gas station and whether it is allowlisted, USDG it holds, and whether protect would act now. holder: what holding $BORRO gets this line (Hold $BORRO. Borrow for less.): up to half its interest back every Monday, what Borro's keeper makes if it liquidates the line unless it was left short or left bad debt, and where switched on gas on the house; counts (Borro's keeper counted it on the last day it counted), share, via (owner or agent: whichever has the larger share), heldBorro (wallet plus own lock), borroForFull ($BORRO for the full rate at today's price), weekSoFarUsdg, interestBackBps (the part of the line's interest that would come back, up to 5000; share and interestBackBps are estimates if held through a whole UTC day) and gasOnTheHouse (only where switched on, and only for a counted line owing gas.minDebtUsdg, 25 USDG by default, or more whose holder holds at least gas.minShare, half by default, of the $BORRO its lines' full rate needs, within weekly limits); live false until Borro's keeper publishes its count.

Hold $BORRO. Borrow for less. What a wallet's $BORRO gets it on Agent Credit Lines, with or without lines. Keep $BORRO in the wallet that borrows (its own BorroLock lock counts as held) and its lines get, always: (1) up to half their interest back every Monday, in USDG: the full rate when it holds $BORRO worth a quarter of what its lines owe together, proportionally less with less; (2) liquidation profit back: when Borro's keeper liquidates a line, what it makes comes back, in proportion to the holding, unless the line was left short or left bad debt. And where switched on (rules.gas says whether it is): (3) gas on the house: on a line owing gas.minDebtUsdg (25 USDG by default) or more, while the holder holds at least gas.minShare (half by default) of the $BORRO its lines' full rate needs, Borro tops up the agent's wallet when it runs low on ETH (the owner's, if the agent has not borrowed on the line within 7 days), within weekly limits, if it is a plain wallet (no smart-account code). Send the $BORRO away and it stops (and forfeits that part of the week's unpaid benefits). Nothing to sign, lock or stake. Answers live (false until Borro's keeper publishes its count; until then nothing is counted or paid), counts (what Borro's keeper counted on the last day it counted), share, via, heldBorro, borroForFull ($BORRO for the full rate at today's price) and borro_to_add_for_full, covers_debt_usdg (the most its lines may owe at the full rate), weekSoFarUsdg, interestBackBps, gasOnTheHouse, each line with what it owes and its rate back, each market's Borro-run supply share (interest paid to anyone else's direct supply, or to the wallet's own part of Borro's USDG vault, gets nothing back), the rules and the paid weeks; share and the rates are estimates if held through a whole UTC day. With borrow_usdg: the same for a planned borrow on top. It reads; it builds no transaction.

Unsigned transactions. Without account: open a line owned by the signing wallet for an agent (never the wallet itself), in a market credit_markets lists ("CREDIT", the default), post its credits and optionally borrow USDG at once (to the wallet unless to names an allowlisted address); exact credit approval to the factory first. The owner's limits: ceiling (USDG, default the most the target allows today), daily_limit (USDG out in any 24 hours, borrows and the agent's withdrawals together, or "none"; default the ceiling, or $100 with a gas station; at most $5,000 with one), target_ltv (a fraction under 1 like 0.18, or a percent with its sign like "18%"; the market's default, 0.18 for CREDIT, at most the market's max trigger), trigger_ltv for protect (by the market's rule; CREDIT: the target plus 7 points, at least 0.27 and at most 0.3), allow (addresses borrowed USDG may go to, 16 at most), gas_station (true: put the agent's gas station on the allowlist), bills (true: bill pay, the agent's own wallet on the allowlist, for x402 bills through credit_bill; the daily limit then defaults to $100), keeper ("borro", the default, "none" or an address), sell_bps and slip_bps for protect's sales (CREDIT defaults 2500 and 300; 0 in a market with no pool). With account: post more credits (anyone) and/or borrow (the line's agent or owner) to an allowed address. A wallet holding $BORRO borrows for less once Holder Credit counts it (holder_benefits). Refuses locally what the line would refuse (over the daily limit, the ceiling or the target, during a write-off, past what the market has free, past 90% used, past what the depth gate allows, before CREDIT's price starts); simulated from the wallet. Check each transaction's to: the factory, a line the factory confirms (isAccount), or the credit for an exact approval.

One unsigned borrow from a line straight to a payee on its allowlist (or its owner): the line's agent or owner signs it, the USDG goes from Morpho to the payee, and the line owes it until repaid. Checked as the line checks it: the allowlist, a write-off, what is left of the daily limit today, the ceiling, the target LTV at today's price, the market's 90% and depth gate; simulated from the wallet. Check the transaction's to: a line the factory confirms (isAccount).

Unsigned transactions that turn a line's credit into ETH in its agent's own wallet: make the agent's gas station if it has no code yet (anyone may; the station is the GasStationFactory's predict of the agent's wallet, never an address given), borrow amount USDG from the line to the station (the agent or the owner; the station must be on the allowlist), then pump(minOut, maxIn) by its full signature, with maxIn everything the station will hold and minOut a tenth of a percent under the pool's own fill for that size (never under the station's Chainlink floor). No amount: pump what the station already holds (anyone may). If ETH's price feed has been stale for 4 days, release() instead, sending the station's USDG to the agent's wallet as it is. Simulated from the wallet.

Pay a merchant's x402 bill (HTTP 402 Payment Required) in USDG on Robinhood Chain from an agent credit line. Give the 402's payment_required (its PAYMENT-REQUIRED header value, or its JSON body); the bill is its exact-scheme USDG option on eip155:4663, refused in words if it has none or asks more than max_usdg. The wallet is the payer and must be the line's agent or owner: if it holds less USDG than the bill, one unsigned borrow of just what it is short, from the line to the wallet itself (the wallet must be on the line's allowlist: bill pay, credit_guardrails bills: true; checked as the line checks it and simulated). Returns the EIP-3009 authorization and its typed_data to sign (eth_signTypedData_v4) and the steps: send the borrow, sign, call credit_bill_header, send the request again with its header before valid_until.

After credit_bill and the wallet's signature: the header the merchant reads (PAYMENT-SIGNATURE, or X-PAYMENT for x402 version 1), base64 JSON with the authorization and signature. Reads no chain and sends nothing: checks the authorization against the bill (the merchant's payTo, exactly its amount, not run out) and recovers a 65-byte signature to its payer. Send the same request again with header.name set to header.value.

Unsigned transactions repaying a line's USDG debt from the wallet (anyone may): an amount, or amount "all"; exact USDG approval to the line first (all: the debt plus a hundredth of a percent for interest until it lands; repay takes only what is owed). With close: true (a JSON boolean; the owner only): repay everything and take every credit and any USDG left back to the wallet. With unwind: true (a JSON boolean; the owner only; a line whose market has a pool): no USDG needed, the line sells its own CREDIT in its pool into the debt (sellAndRepay: by default enough to repay it all, at a minimum of the whole debt, then closes the line; sell and min_usdg to choose). Repaying, closing and an unwind at the whole debt work before CREDIT's price starts and during a write-off too. Check each transaction's to: a line the factory confirms (isAccount), or USDG for an exact approval.

One unsigned configure() transaction for the line's owner, starting from the line's current settings: agent (or revoke_agent: true, a JSON boolean, at once; never the owner's own wallet), keeper ("borro", "none" or an address), ceiling (USDG), daily_limit (USDG, or "none"), target_ltv and trigger_ltv (at most the line's max trigger, 30% for CREDIT; a new target over the line's trigger moves the trigger by the market's rule), sell_bps (0 in a market with no pool), slip_bps, allow (add addresses), deny (take them off), gas_station (true adds the agent's gas station, false takes it off), bills (true: bill pay, the agent's own wallet on the allowlist so it can borrow what it is short of an x402 bill, credit_bill; false takes it off; such a line needs a daily limit, $100 unless given). When the agent changes, the old agent's gas station and own wallet come off the allowlist in the same transaction and the new agent's go on in their place. A line with a gas station on its allowlist keeps a daily limit of at most $5,000 ($100 unless given). Checked as the line checks it; shows before and after. Ownership: transfer_to (the owner offers the line), or accept: true (the wallet it was offered to takes it with acceptOwnership, then names Borro's keeper again with setKeeper: two transactions sent one after the other; accepting clears the keeper, so until the second is sent the line has no keeper and no auto-repay; keeper: "none" leaves it off). Check each transaction's to: a line the factory confirms (isAccount).

Unsigned transactions putting part of the wallet's Borro position on hold for one payee, up to a cap in USDG and until an expiry, while the shares keep earning (the vault's interest or lending fees, and the $BORRO Drip). vault: "USDG" (the default: usdg, the cap unless given, goes into bUSDG and the hold is those shares, openWithUsdg) or a stock's ticker (shares of its Borro vault the wallet holds, "all" or an amount; worth more than the cap at the vault's cover). mode: "metered" (the default: x402 requests paid with vouchers, hold_pay) or "charge" (the payee charges up to the cap). With payment_required (a merchant's 402 offering the borro-hold scheme) the payee, the vaults it takes, the least cap and life are the merchant's. expiry_seconds: up to 90 days (default the merchant's, else a day). The payer cannot take the shares back before the expiry and a 4-day grace after it, in which the payee may still collect; the payee or its operator can release them any time, and after the grace anyone can reclaim them for the payer. The terms the payer accepts (the stock's desk, the most slippage on its sales, the most fee) come from the vault's listing and the fee now, and max_slip_bps or max_fee_bps tighten them; they are fixed for the hold's life. An exact approval to BorroHolds comes before it when one is missing; simulated from the wallet. Returns the hold's id.

The voucher for one x402 request (HTTP 402 offering the borro-hold scheme): the typed data the hold's payer signs, saying what it owes the merchant in all on the hold, counted on from the last voucher Borro's facilitator accepted (or what the hold has paid on chain, if more). Give payment_required and hold (its id), or wallet to use its newest hold the merchant takes. Refused in words when the hold cannot pay it (another payee, a vault the merchant does not take, too close to its expiry, its cap used, too little value) or the request costs more than max_usdg. Nothing is sent: sign typed_data (eth_signTypedData_v4), then hold_header.

After hold_pay and the payer's signature: the header the merchant reads (PAYMENT-SIGNATURE, or X-PAYMENT for x402 version 1), base64 JSON with the voucher { hold, cumulative, signature }. Reads no chain and sends nothing; recovers a 65-byte signature to the hold's payer. Send the same request again with header.name set to header.value.

A hold on BorroHolds by its id, or the newest 10 a payer opened or that pay a payee: payer, payee, vault, mode, cap, paid, shares and their value in USDG, the cover, the expiry and the payee's 4-day grace after it, the terms fixed when it opened (desk, slippage, fee), USDG BorroHolds credited to the payer with its claim transaction, and for metered holds what Borro's facilitator has accepted in vouchers, what is owed and not collected yet, and the last voucher (hold_collect sends it; it pays the payee).

One unsigned transaction paying a hold's payee. Metered: settle with the latest voucher (cumulative and signature, or by default the last one Borro's facilitator accepted); until the expiry anyone may send it, in the 4-day grace after it the payee or its operator, and the USDG goes to the payee. Charge: charge an amount (default all the cap has left), the payee or its operator, until the grace ends. A stock hold sells stock along its desk's route, while the market is open. When the vault can pay out part of it, it pays that much and the rest can be collected later; in_shares true (the payee or its operator) pays the vault's shares instead, which needs no liquidity (a stock hold's at its feed with BorroHolds' constant pad of 0.5% (PAD_BPS, 50 bps), while the market is open: shares worth the amount divided by one plus the pad, the whole amount counted as paid; the payee bears the pad whenever it collects a stock hold in kind). Simulated from the wallet, with what the payee gets after the hold's fee.

One unsigned transaction ending a hold: release (its payee or operator, any time) or, after the expiry and the payee's 4-day grace, reclaim (anyone). Either way every share left goes back to the payer. Until then the payer cannot end it. Warns when releasing would give up accepted vouchers nobody has collected.

Unsigned transaction opening the wallet's trade account (a TradeAccount, one per owner, made by TradeAccountFactory), naming an agent if given: an optional second key, never the wallet itself, that can open and close positions within its slippage of the stock's feed, set triggers and cancel the ones it set, and send money out to the owner alone. Positions opened inside the account can carry triggers (stop-loss, take-profit, liquidation guard) that anyone can execute for a tip once the price feed confirms them; positions opened from the wallet cannot (close them and open them again inside). The owner can take everything out at any time and nobody, Borro included, can stop that. With an account open already: agent names a new agent (the old agent's triggers are cancelled with it), revoke_agent: true revokes it at once. The owner's settings, on a new account or an open one: the agent's limits (agent_slip_bps, agent_max_tip_bps, agent_max_margin_usdg, agent_daily_loss_usdg, agent_restricted; the agent opens nothing, takes no deposit out and sets no trigger until it has a daily loss budget, and closes whatever the budget; it tips nothing until it has a max tip) and max_slip_bps, how far a stop's or a guard's fire bound may widen past its slip. Simulated from the wallet.

Unsigned transactions to open or close a short or a leveraged long through the trade account: the same trades as open_short, close_short, open_long and close_long, with the account as the trader. action open_short (symbol, amount, deposit), close_short (symbol: all of the account's short on it), open_long (symbol, margin, leverage) or close_long (symbol, percent). The account pays from its own USDG; when it holds too little, a USDG transfer from the wallet to the account comes before the trade (from the agent's wallet with fund_from_wallet: true alone, since the agent's own USDG then becomes the owner's and can go out to the owner alone, never back to the agent). What a close returns stays in the account as USDG (account_withdraw takes it out). The wallet must be the account's owner or its agent; the agent's trades must price within its slippage of the stock's feed (refused in words when the pool is further off). The agent's opens need room in the daily loss budget the owner set: refused in words when it is 0 or today's loss has reached it (until 00:00 UTC), and by the account when the open's own shortfall against the feed would pass it. Its closes run whatever the budget (any share, within its slip), counted into today's loss, past the budget by at most their own shortfall. The answer says how much of the budget is left.

Unsigned transaction leaving an order on a position in the trade account, which anyone may execute once the price feed confirms it, for a tip. kind stop (stop-loss: a short's fires at or above price, a long's at or below), take (take-profit: the other way) or guard (liquidation guard: fires when the position's LTV, Morpho's own at the market's oracle, reaches ltv and closes just enough to bring it down to target; target under ltv under the position's LLTV). A stop or take closes percent of the position (default 100). slip_bps: the most the close may come in worse than the feed's price once the trigger is armed and its bound has widened (100 to 300, default 100; the agent's at most its own limit). tip_bps: the executor's tip, a share of the closed notional at the feed, capped (tip_bps, at most 50 basis points, and never more than the USDG the close returns) (default: the smallest that covers a fire's gas at today's gas and ETH prices, at least 10 from the owner; the agent's at most its max tip, 0 unless the owner set one). The answer says who will fire it: Borro's keeper fires a trigger whose tip covers its fire's gas (taken as 1,100,000 gas until the keeper screens the fire). A trigger whose tip does not cover its fire's gas (a zero tip included, any kind; an agent's trigger pays no tip past its daily loss budget until 00:00 UTC) is fired by Borro's keeper from its root owner's low-tip allowance alone: 0.0001 ETH of gas a UTC day (a few fires), its owner's alone. At most 40 root owners hold one a UTC day, by spending from it: a free one goes to a trigger that is ready and about to be fired, and to no other, in the keeper's owner order (a fire on record, then the least keeper work today, then the oldest trade account) and while its owner is under 200 units of keeper work that day, so the owners whose triggers fire earliest may take all 40 that day. Past it, the trigger is left to other executors. A close under $5 (dust) is left to other executors whatever the tip. Bo

The live triggers on a trade account (account, or the wallet's own): each with its condition in words, the stock's price now and how far it is from firing (in dollars and percent; a guard's LTV now and about where the price takes it to its LTV), whether it holds now (the account's own check) and why not, who set it, its slip, tip and expiry, and the fire transaction anyone may send once it holds. Triggers do not fire while the stock market is shut or the feed has not printed within 25 hours; a price crossed while it is shut (a weekend, a holiday) fires once the market opens again, at the price the feed prints then, within the trigger's slip, and after a gap that price can be well past the trigger's.

Unsigned transaction cancelling a live trigger on the trade account: the owner cancels any, the agent the ones it set. Simulated from the wallet.

For executor agents: the triggers that hold right now by the account's own check (on one account, read on chain; or across every trade account as Borro's keeper publishes them at /triggers.json each minute while the market is open, with the few simulated here checked on chain again), each with the unsigned fire transaction from the wallet, simulated from it, and the tip it pays in USDG. Anyone may fire a trigger whose condition holds and is paid its tip: a share of the closed notional at the feed, capped (tip_bps, at most 50 basis points, and never more than the USDG the close returns) (the account's own agent firing earns nothing: its tip goes to the owner). The close goes through the account at the feed's price within the trigger's slip, the rest stays in the account, and nothing else moves. A trigger whose close would fail (slip, the pool, a paused desk) reverts and stays live. Its bound starts at 50 basis points past the feed until the trigger is armed, then widens: when it is not armed yet, the arm transaction (anyone may send it) comes before the fire, and bound says whether the pool's fill fits the bound now or from when. Send a fire with a gas limit of 3,000,000. Triggers do not fire while the stock market is shut or the feed has not printed within 25 hours; a price crossed while it is shut (a weekend, a holiday) fires once the market opens again, at the price the feed prints then, within the trigger's slip, and after a gap that price can be well past the trigger's. With account and id: that one trigger, refused in words when it does not hold. When none holds: the nearest ones and how far they are. Borro's keeper fires them too, by its own rules: Borro's keeper charges all its work on a trigger (screens, checks and simulations, 1 unit each; arms and resets, 5) to the trigger's root owner until the trigger fires, when it is given back. Owners go in this order: owners with a fire on record (a fire Borro's keeper itself sent for them and was paid for, its tip a

A trade account (account, or the wallet's own): its owner, its agent and the agent's limits (with today's loss against its daily loss budget and what that still lets the agent do: opens, deposit withdrawals and trigger-sets while it has room; closes and top-ups always), the USDG and stock it holds, its shorts and leveraged longs with their LTV (Morpho's own), how much of their limit each uses and the price that liquidates it, which positions have no trigger, every live trigger with its distance from the price now, who can do what, and the market clock. Triggers do not fire while the stock market is shut or the feed has not printed within 25 hours; a price crossed while it is shut (a weekend, a holiday) fires once the market opens again, at the price the feed prints then, within the trigger's slip, and after a gap that price can be well past the trigger's.

Unsigned transaction taking money out of the trade account: USDG (the default), a stock by its ticker or any token by its address, an amount or all: true. The owner can send it to any address (default the owner) at any time, whatever the account holds open; the agent can send it to the owner alone. Simulated from the wallet.

Another lender's repayment record of an agent or a wallet: Priors' record on Robinhood Chain (loans repaid and their USDG, loans open, any default, its Priors Score v2 and rung), read live from Priors' check API and given in Borro's own words. agent: an ERC-8004 agent id; address: a wallet (an agent's, a payee's, an x402 payTo), which finds the agents it owns or pays for (at most 3 shown, best rung ahead); exactly one. It is Priors' record, not Borro's, and Borro does not vouch for it: check_on_chain says how to read Priors' score from the ERC-8004 registry yourself. verdict: no record, no repayments yet, repaid or defaulted. proven is true when a listed agent has a published Priors Score v2 at rung 2 or more (proven: three or more backed repayments over 14 days or more, none late), no default and is not frozen; anything missing counts as not proven. credit_open, credit_line, credit_guardrails, credit_pay, credit_bill, hold_open and account_open show the same record as agent_record or payee_record when Priors answers within 2.5 seconds.

Every paid job on Borro right now, in one list: the positions past their liquidation limit (from Borro's keeper's /jobs.json) and the triggers holding now (from /triggers.json). A liquidation is paid from the liquidated position's collateral and a trigger by the tip its owner set; Borro itself pays nothing. Each job says what it pays (an estimate from a simulation, never a promise), its gas, how long it has been open, when Borro's keeper steps in (borro_keeper_acts_after: it is the backstop, and it may give outside agents a head start), and the call that prepares it (liquidate or trigger_fire). Liquidations need no money of your own: the market's liquidator takes the collateral, sells it, repays the debt and pays you what is left. Reads no chain; says so when the lists are empty or stale.

无需输入参数。

Unsigned transaction liquidating a position past its limit, through the market's own liquidator (anyone may call it, and it pays the caller): no money of the wallet's, Morpho hands over the collateral, it is sold, the debt repaid, and the rest goes to the wallet. market: a stock's symbol with side short or usdg, an agent credit market's symbol (as credit_markets lists them), or a market id (0x and 64 hex) for a coin short or a coin loan (a coin's address with side works too; keeper_jobs gives the arguments). Reads the position fresh from the chain, sizes it as Borro's keeper does, simulates it from the wallet, and sets minProfit to 90% of the simulated profit unless min_profit_usdg is given: under it the transaction reverts and costs the gas alone. Refused in words when the position is healthy, the profit is under min_profit_usdg, the stock vault has lent its stock out (CannotRedeem), or the market is not Borro's.

A seller's receiving address on Borro: put it as payTo in your x402 offers (or as a payment channel's receiver, or a Borro hold's payee) and whatever USDG it is paid is swept into Borro's USDG vault, bUSDG, straight to the owner's wallet, so takings earn until spent. Gives the address (one per owner, known before it is made), whether it is made, the USDG waiting there, the owner's bUSDG and its worth, and the x402 fields to use. Pass wallet (the owner), or address (a receiving address, to find its owner).

An unsigned transaction to make the wallet's receiving address (once; anyone may make it, and it always works for the owner and no one else). Payments sent to the address before it is made wait there and are swept once it is. Refuses owners whose address could never be spent from (the zero address, Borro's own contracts, another receiving address). Simulated from the wallet; nothing is sent.

An unsigned transaction to sweep the USDG waiting at a receiving address into bUSDG for its owner now (making the address too, if it is not made yet). Borro's keeper sweeps on its own (about every five minutes once 1 USDG waits); this is for sooner. Any wallet may send it; the shares go to the owner. owner defaults to wallet. Simulated from the wallet; nothing is sent.

An unsigned transaction for the owner to take what waits at its receiving address out to its own wallet: USDG as USDG before it is swept (token USDG, the default), or ETH or another ERC-20 token sent there by mistake (token ETH, or the token's address). amount is a decimal string, or "all" (the default) for whatever is there when it lands. USDG already swept is the wallet's bUSDG: redeem it from the vault with withdraw. Simulated from the wallet; nothing is sent.