SPY / USDG

You can take your place before the money arrives

Posting collateral does not touch the lending pool, so it works whether there is $0.00 available or nothing at all. Move the LTV slider to zero and the button becomes Post collateral: your SPY goes in, no debt is created, and you owe nothing and pay nothing while you wait. The moment a supplier funds this market you borrow in a single transaction, with no approval, no queue and no allowance to set up again. Withdrawing collateral you never borrowed against is equally unconditional — you are not committing to anything by standing in line.

Info & risk

Collateral

SPY

Borrowed asset

USDG

Token

0x117cc2133c37B721F49dE2A7a74833232B3B4C0C

Price source

0x319724394D3A0e3669269846abE664Cd621f9f6A

Liquidation LTV

62.5%

Highest LTV in this app

57.5% — a margin below liquidation

Oracle behaviour

Stock feeds run 24/5. The price stands still from Friday close to Monday open; that pause is normal, and the LTV is sized for the Monday gap rather than for a staleness check.

Soft liquidation

0x7A0A8B48FDcf7577A04F08D113aB40aD9E7d417e — opt in, and between 57.5% and 62.5% LTV the position is trimmed at a 2–4% penalty instead of the full ~12.7% incentive.

What liquidation means here

If the debt rises above 62.5% of collateral value, anyone may repay part of it and take collateral at a bonus. Cluby runs its own liquidator on a Morpho flash loan so this happens promptly rather than at the worst spread — but it stays open to anyone, which is what makes it reliable.