Key Mechanisms & Glossary

Glossary

BondMM

BondMM is the automated market maker (AMM) that powers Spine Protocol. BondMM is the mechanism behind our core fixed-rate lending and borrowing products, developed and mathematically proven through years of Phd research. Learn more about BondMM through our published, peer-reviewed research papers.

sUSDC (Spine USDC)

sUSDC tokens function as maturity bonds within the Spine liquidity pool, defined by a specific currency type and a set maturity date. At maturity, sUSDC tokens can be redeemed for their equivalent value in USDC on the Spine Protocol. Prior to maturity, these tokens can be freely traded or transferred. For example, consider a sUSDC token with a 6-month maturity. This token can be actively traded or transferred until it reaches its maturity. After 6 months, the sUSDC token can be redeemed for its calculated value in USDC on Spine Protocol.

Lending Liquidity Pool (LLP)

Spine's Lending Liquidity Pools (LLPs) are dynamic and innovative pools composed of core assets such as USDC or ETH, paired with sUSDC tokens. These pools are designed to offer and maintain fixed interest rates for both borrowers and lenders, ensuring stability and predictability return.

Supply Restaking

Our LP is built directly on top of other variable-rate lending protocols including Morpho, AAVE, Compound, and more. Users with existing earn/supply positions can simply restake their position to enable others to lend/borrow at fixed-rates on top and earn additional yield. By doing this, you:

• Keep earning rewards in the situation of idle liquidity.

• Enable fixed-rate borrowing and lending on top of your position.

• Earn extra yield from the rate spread and trading fees.

Supply once, resupply on Spine, and unlock more yield from your investments.