> For the complete documentation index, see [llms.txt](https://docs.ethosis.org/llms.txt). Markdown versions of documentation pages are available by appending `.md` to page URLs; this page is available as [Markdown](https://docs.ethosis.org/roadmap/phases.md). # Roadmap Ethosis went live with a deliberately narrow scope: only the most liquid collateral, conservative LTVs, a visible cap on every token, and a public risk page from the outset. Each of the expansions listed below opens only once the liquidation and repayment record of the preceding stage justifies it. ## Available now | Area | Status | | ------------- | ----------------------------------------------------------------------------------------------------------------------------------------------------------- | | Markets | Tier A (index and mega-cap) and Tier B (large-cap single name) Stock Tokens against USDG on Robinhood Chain | | Loan terms | Fixed rate and fixed term of 7, 14, 30 or 90 days, syndicated across any number of lenders | | Order book | Standing and targeted EIP-712 offers, gasless to sign and to cancel; public and exportable | | Lifecycle | Full and partial repayment, top-up, rollover auctions at maturity, Dutch-auction liquidation with in-kind and closed-market options | | Idle capital | Opt-in parking of unmatched lender capital in a whitelisted Morpho USDG vault, withdrawn just in time at origination | | Risk controls | Session-aware haircuts, bounded closed-market floors, grace after a sequencer outage, oracle move caps and corporate-action pauses, per-token exposure caps | | Participants | Professional lenders, and verified business and professional borrowers in eligible jurisdictions | | Transparency | Loan explorer, risk page, oracle status, governance log, open-source contracts and services | ## Coming next | Expansion | Scope | Precondition | | ------------------------------ | ------------------------------------------------------------------------------------------------------------------------------ | ------------------------------------------------------------------ | | Tier C long tail | Every Stock Token with a live Chainlink feed, opened market by market, with lenders opting in per token | DEX depth and auction performance on Tier A and B | | Tier D negotiated loans | Bilateral loans on tokens with no live oracle, professional lenders only, default at maturity only | Professional demand and per-token legal review | | Senior and junior slices | Opt-in tranching within a syndicate (the Centrifuge DROP/TIN pattern) | A separate audit of the waterfall | | Tokenized treasuries and funds | Bridged NAV-priced collateral (USDY, BUIDL-class, JTRSY) at 85% to 92% LTV in isolated markets | Bridge liquidity and issuer allowlisting of the escrow | | Retail lenders | The `LENDER_RETAIL` role, switched on jurisdiction by jurisdiction | A licensing route in each jurisdiction | | Slice token secondary market | Transfer of slices between eligible lenders through the platform | Already satisfied: eligibility-gated transfer is enforced on-chain | | Governance module | Parameter control moves from the foundation multisig to an on-chain module that keeps the timelock and the repayment guarantee | Design review and audit | | Further settlement assets | USDe or USDC markets alongside USDG | Confirmed bridged liquidity and an available idle-capital vault | ## Raising caps Each collateral token has a dollar exposure cap. Raising one goes through the timelock, and the governance log records the rationale together with the supporting evidence: realised auction prices against oracle, DEX depth and repayment history. See [Collateral tiers](/assets/collateral-tiers.md) and [Parameter governance](/transparency/governance.md). ## Market approach * **Lenders.** Professional lenders (credit funds, market makers and family offices already active on Robinhood Chain and Morpho) maintain standing offers across Tier A and B tokens, so borrowers always find a live book. * **Borrowers.** Stock Token holders who want USDG liquidity without selling, beginning with the chain's own DEX traders. * **Channels.** A Robinhood Wallet dApp listing, the Arbitrum and Chainlink builder programmes, and joint marketing with Paxos and USDG. --- # Agent Instructions This documentation is published with GitBook. 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