Borrow planned
Collateral that keeps earning
The point of turning a position into a token is that the token can go somewhere. A Lamina is a plain ERC-20 with a redemption price the Core reports on chain, which is the whole of what a lending market needs from collateral.
Why it is possible
Nothing bespoke to integrate
A liquidity position is a bound thing with no price anything else understands. A Lamina is eighteen decimals and a convertToAssets call.
What a venue would read
- convertToAssets(uint256)
- what one Lamina redeems for, right now
- totalAssets() / totalSupply()
- the same number, from the two parts it is made of
- asset()
- the ERC-20 underneath, so the venue can price it its own way
- stagnant()
- whether deposits are halted — redemption never is
What it would not need
- No oracle signature, no price feed, no keeper.
- No custom liquidation path: redemption is a call anyone can make.
- No permission from us. There is nothing to permission.
The honest part
This is not built
There is no lending market on Robinhood Chain that takes a Lamina, and this page is not going to imply one by describing the mechanism in the present tense.
What exists today is the property that makes it possible: a receipt token with an on-chain redemption price and no lockup. What does not exist is a venue. When one does, the number it would have to publish is the discount — what a Lamina trades at against what it redeems for — because those are different numbers and only the second one is guaranteed.
Every part of this site says which state it is in. The state table has one row each.