# Libre: Transparent Bitcoin Lending

Borrow USDT using Bitcoin as collateral, or earn fixed-rate interest by lending USDT—all backed by segregated, on-chain verifiable Bitcoin collateral.

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## Why Libre Is Different

Most lending platforms pool your Bitcoin with everyone else's. If something goes wrong, you're just a creditor in line.

**Libre doesn't work that way.**

When you borrow on Libre, your Bitcoin goes into **your own vault address**—separate from every other borrower. You can verify your exact Bitcoin on the blockchain anytime. It's never pooled, never lent out, never rehypothecated.

When you lend on Libre, every loan is backed by **\~300% Bitcoin collateral** sitting in segregated vaults you can audit yourself.

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## Track Record

| Metric                 | Value    |
| ---------------------- | -------- |
| **Repayment Rate**     | 94.5%    |
| **Collateral Ratio**   | \~300%   |
| **Operating History**  | 1+ year  |
| **Liquidation Buffer** | 72 hours |

No surprise liquidations. No hidden fees. No games.

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## For Borrowers

**Your Bitcoin stays yours.**

1. Deposit BTC to your unique vault address (not a shared pool)
2. Borrow USDT at a fixed rate—you know exactly what you'll pay
3. If Bitcoin price drops, you get 72 hours to add collateral or repay
4. Repay and get your exact Bitcoin back

Your vault address is visible on the Bitcoin blockchain. Verify it anytime.

→ [Borrowing Guide](https://docs.libre.org/libre-docs/core-features/overview)

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## For Lenders

**Your USDT is protected by Bitcoin collateral you can verify.**

1. Deposit USDT into a fixed-rate pool
2. Every borrower must post \~200%+ Bitcoin collateral
3. If a borrower can't repay, their Bitcoin is liquidated to cover your position
4. Withdraw your USDT plus interest anytime (subject to pool liquidity)

All collateral vaults are public. You can audit every Bitcoin backing every loan.

→ [Lending Guide](https://docs.libre.org/libre-docs/core-features/overview-1)

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## How It Works

### Borrowing with BTC

1. **Deposit BTC** to your unique vault address (segregated from all other loans)
2. **Take out a USDT loan** (e.g., 50% LTV) from available pools
3. **Monitor your liquidation** price and LTV in real-time
4. **Repay to unlock** your exact Bitcoin from your vault

### Lending USDT

1. **Deposit USDT** into a fixed-rate lending pool ([need USDT? see how to peg in](https://docs.libre.org/libre-docs/platform-docs/how-to-peg-in))
2. **Receive TP tokens** representing your stake in the pool
3. **Earn interest** as borrowers pay against their Bitcoin collateral
4. **Redeem TP for USDT** anytime (subject to pool liquidity)

> **Every loan uses segregated Bitcoin collateral** — each borrower gets their own vault address that anyone can verify on-chain. No pooled collateral, no rehypothecation.

> **Liquidations are triggered automatically** if LTV crosses 80%, with a 72-hour buffer for recovery.

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## Security & Transparency

* [Custody & Security](https://docs.libre.org/libre-docs/core-features/overview-2) — How your Bitcoin and USDT are protected
* [Liquidation Process](https://docs.libre.org/libre-docs/understanding-the-platform/liquidation) — The 72-hour buffer and how it works
* [How to Verify Collateral](https://docs.libre.org/libre-docs/core-features/overview-2#on-chain-verifiability) — Audit any vault yourself

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## More Resources

### Getting Started

* [Borrowing Guide](https://docs.libre.org/libre-docs/core-features/overview)
* [Lending Guide](https://docs.libre.org/libre-docs/core-features/overview-1)
* [How to Get USDT on Libre](https://docs.libre.org/libre-docs/platform-docs/how-to-peg-in)

### Earning Beyond Lending

* [Mining LIBRE](https://docs.libre.org/libre-docs/earn/mining)
* [Staking LIBRE](https://docs.libre.org/libre-docs/earn/staking)

### Technical

* [Developer Guide](https://docs.libre.org/libre-docs/for-developers/overview)
* [TP Token Mechanics](https://docs.libre.org/libre-docs/understanding-the-platform/liquidation/tokenomics)

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## Ready to Get Started?

* [Borrow USDT](https://defi.libre.org/borrow)
* [Lend USDT](https://defi.libre.org/lend)
* [View Live Protocol Stats](https://defi.libre.org/protocol)