Borrow francs.
Keep your BTC, ETH, gold or shares.
Lock collateral, mint Swiss francs, repay by maturity to get the collateral back. No credit check: the terms are on-chain and fixed when you open the position.
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BTC and ETH
Wrapped and staked versions such as WBTC, cbBTC, WETH and wstETH.
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Tokenized gold
Gold tokens such as XAUt and PAXG.
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Tokenized shares
Swiss company shares issued on-chain, and tokenized index funds.
Live terms per collateral
The best open terms right now. The app shows your exact numbers before you sign.
| Collateral | Loan-to-value | Interest | Until | |
|---|---|---|---|---|
 WETH Wrapped Ether | 77% | 1.33% a year | Dec 2027 | Borrow |
 LsETH Liquid Staked ETH | 95% | 1.33% a year | Oct 2028 | Borrow |
 PAXG Paxos Gold | 77% | 1.67% a year | Dec 2028 | Borrow |
 XAUt Tether Gold | 90% | 1.67% a year | Dec 2028 | Borrow |
 wstETH Wrapped liquid staked Ether 2.0 | 78% | 2.67% a year | Jun 2027 | Borrow |
 REALU RealUnit Shares | 90% | 1.18% a year | Dec 2026 | Borrow |
 SPYon SPDR S&P 500 ETF (Ondo Tokenized) | 79% | 1.11% a year | Feb 2029 | Borrow |
 cbBTC Coinbase Wrapped BTC | 91% | 1.25% a year | Dec 2027 | Borrow |
WETHUntil Dec 2027 Loan-to-value77% Interest1.33% a year LsETHUntil Oct 2028 Loan-to-value95% Interest1.33% a year PAXGUntil Dec 2028 Loan-to-value77% Interest1.67% a year XAUtUntil Dec 2028 Loan-to-value90% Interest1.67% a year wstETHUntil Jun 2027 Loan-to-value78% Interest2.67% a year REALUUntil Dec 2026 Loan-to-value90% Interest1.18% a year SPYonUntil Feb 2029 Loan-to-value79% Interest1.11% a year cbBTCUntil Dec 2027 Loan-to-value91% Interest1.25% a year - Loan-to-value:
- Liquidation price divided by today's market price: the most you can borrow per franc of collateral.
- Interest:
- Yearly rate on the amount you repay, paid upfront for the whole term.
- Until:
- Latest date to repay or roll over before the position can be liquidated.
One position, start to finish.
Example terms: 20% reserve, one-year maturity, 50% loan-to-value. The reserve, rate and maturity differ per collateral; see the table above.
| Collateral locked | Worth 20,000 CHF Stays in your own position contract, visible on-chain. |
|---|---|
| Francs minted | 10,000 ZCHF 50% of the collateral's value. The liquidation price is set at half today's market price. |
| Francs you receive | 7,500 ZCHF 10,000 minus 2,000 retained reserve minus 500 interest for one year, paid upfront. |
| Amount to repay | 8,000 ZCHF The minted amount minus the reserve, which the protocol keeps back and nets against your debt. You receive less than you owe because the interest is already paid. |
| Maturity | In one year Repay any time before it to get the collateral back, or roll over to extend. After maturity the position can be liquidated. |
| Liquidation | Below half today's price If the collateral trades below the liquidation price, anyone can challenge the position and part of the collateral is auctioned. Add collateral or repay part of the debt to lower the risk. |
The interest in the table is quoted on the amount you repay: here 500 / 8,000 = 6.25% a year.
Before you start.
An Ethereum wallet with the collateral and some ETH for transaction fees. Positions live on Ethereum mainnet.
No. The collateral is the only security, and nobody can deny you a position.
Whoever opened the original position proposed them, and FCS holders (Frankencoin Shares) could veto. When you borrow you clone those terms.
Yes. Both lower your liquidation risk. You can also roll a position over before maturity.
Token issuers and holders can propose a new collateral.
Borrow against what you already hold.
Pick a collateral in the app, set amount and term, and see the exact numbers before you sign.
