> For the complete documentation index, see [llms.txt](https://ketro.gitbook.io/ketro-docs/llms.txt). Markdown versions of documentation pages are available by appending `.md` to page URLs; this page is available as [Markdown](https://ketro.gitbook.io/ketro-docs/what-ketro-is.md). # What Ketro is Ketro lends against Polymarket positions. A borrower deposits ERC-1155 outcome tokens as collateral and draws a pUSD loan; lenders supply pUSD to a shared pool and earn the spread. The position is never sold — it is deposited, priced and used as collateral, and it is the same position when the loan closes. The one fact everything follows from: **a prediction-market position settles at exactly $0 or $1, on a known date.** The value axis is bounded, time is a risk dimension rather than decoration, and the whole risk model fits on one line — the distance between today's price and the price where the loan breaks. ### The two sides **Borrowing.** Deposit outcome tokens from a whitelisted market, draw up to 50% of their value in pUSD. Interest accrues per second and stops the moment you repay. If the market resolves while the loan is open, settlement redeems the collateral, clears the debt and returns the rest — the protocol does it unprompted. **Lending.** Supply pUSD to one open pool — a standard ERC-4626 vault, permissionless and composable. Interest is paid by borrowers on the share of the pool actually lent out, so the yield tracks utilization. Withdraw whenever the pool holds free liquidity. ### What Ketro is not Not a broker, and not advice. The contracts hold collateral and issue loans according to their own code; the website is one way of talking to them. Every action requires your signature, and no action can be taken on your behalf without it. The contracts are **not yet audited**. The source is published and the parameters are stated in full; neither is an audit. See Trust assumptions for what you are trusting and to whom. --- # Agent Instructions This documentation is published with GitBook. GitBook is the documentation platform designed so that both humans and AI agents can read, navigate, and reason over technical content effectively. Learn more at gitbook.com. ## Querying This Documentation If you need additional information that is not directly available in this page, you can query the documentation dynamically by asking a question. Perform an HTTP GET request on the current page URL with the `ask` query parameter, and the optional `goal` query parameter: ``` GET https://ketro.gitbook.io/ketro-docs/what-ketro-is.md?ask=&goal= ``` `ask` is the immediate question: it should be specific, self-contained, and written in natural language. `goal` is optional and describes the broader end goal you are ultimately trying to accomplish on behalf of the user. GitBook uses it to tailor the answer towards what is most useful for that goal. The response will contain a direct answer to the question and relevant excerpts and sources from the documentation. Use this mechanism when the answer is not explicitly present in the current page, you need clarification or additional context, or you want to retrieve related documentation sections.