OpenAsset Market
Permissionless, non-custodial lending infrastructure for tokenized assets.
Create an isolated lending market around an asset, fund it with stablecoins, and choose how that market prices collateral, checks eligibility, represents positions, and resolves defaults. OpenAsset supplies the lending engine and the rules that keep each market separate. Market creators choose the asset, adapters, and risk parameters.
Before you start: OpenAsset v2 uses a pluggable adapter architecture. Version 1 is scoped to EVM chains and stablecoin lending assets. Permissionless market creation does not mean that every asset, adapter, or market is safe, verified, or suitable for every borrower.
Start with your goal
Learn
Protocol concepts: markets, adapters, loan lifecycle, oracles, liquidations, risk, and security.
| Goal | Guide |
|---|---|
| Understand what OpenAsset is | What is OpenAsset |
| See how a market works end to end | How a market works |
| Follow a loan from origination to repayment or liquidation | Loan lifecycle |
| Learn the vocabulary | Glossary |
Use
Supply, borrow, and manage positions in the OpenAsset app.
| Goal | Guide |
|---|---|
| Connect and take your first action | Getting started |
| Borrow stablecoins against collateral | Borrow |
| Supply stablecoin liquidity to a market | Supply liquidity |
Build
Developer setup and references for adapters, the registry, and integrations.
| Goal | Guide |
|---|---|
| Build your first adapter in minutes | Quick start |
| Plan an adapter or integration | Developer guide |
| Implement the five adapter interfaces | Adapter system |
| Register and verify an adapter | Adapter registry |
Curate
Configure and operate markets, including RWA and permissioned markets.
| Goal | Guide |
|---|---|
| Launch an isolated market | Create a market |
| Launch a tokenized-equity or RWA market | RWA markets |
| Check which combinations the Factory accepts | Validation matrix |
| Set up eligibility rules | Compliance setup |
The short version
OpenAsset separates a stable lending engine from the asset-specific logic that changes from market to market. The engine does not need to know whether collateral is an ERC20, NFT, tokenized equity, or another supported asset type. It calls adapters for five jobs:
| Job | Adapter |
|---|---|
| Hold and release collateral | Asset Adapter |
| Price collateral | Oracle Adapter |
| Check participant eligibility | Compliance Adapter, optional |
| Resolve a default | Liquidation Adapter |
| Represent the loan position | Position Adapter |
The Factory validates the selected combination, then deploys a new LendingMarket. Each market has its own liquidity, collateral, risk parameters, and adapter stack. There is no shared lending pool between markets. Details: How a market works.
Know the boundaries before you deposit or deploy
| Boundary | What it means in practice |
|---|---|
| Stablecoin lending assets only | Borrowers receive an allowlisted stablecoin. Non-stablecoin lending assets are out of scope for v1. |
| EVM deployments only in v1 | Each supported chain has its own Factory and Registry. There is no unified cross-chain liquidity layer. |
| No protocol underwriting | Anyone can create a market, but the market creator sets the parameters and LPs carry the market’s economic risk. |
| Verified does not mean trusted code | Verification is a process control. The core engine treats verified and unverified adapters as semi-trusted external code and verifies their outputs. |
| RWA assets carry issuer risk | An issuer can become insolvent, halt redemption, or be shut down independently of the token’s market price and OpenAsset’s contracts. This is an uninsured total-loss risk. |
Full version: Scope and risks.
Documentation for agents
Use /llms.txt when an agent needs the complete canonical documentation in plain text. The file is generated from the same MDX pages as this site, so the machine-readable version and the human-readable version stay aligned. The /docs/llms page explains how to use it.
Document status
| Field | Value |
|---|---|
| Status | Canonical / source of truth |
| Architecture | v2.0 adapter architecture |
| Scope | EVM chains; stablecoin lending assets |
| Supersedes | Prior monolithic LendingMarket designs |
Where this site and older drafts disagree, this documentation is correct.
Last updated August 27, 2026.