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banked.Markets
Which coins qualify, the caps, and how a bag is valued.
Which coins qualify
Memecoins must have been launched on Pons V1, Pons V2 or long.xyz, have a market cap of at least $1M, and have at least $50k in their pool. Tokenized stocks must be ones Pons itself accepts as pair tokens. Every market is hard-coded by address; nothing is found by symbol.
A memecoin that later falls under the $1M bar leaves the ledgers, unless someone still has debt or USDG in it. Its market page keeps working.
Tiers
| Tier | Coins | Borrow up to | Liquidated at | Liquidation fee |
|---|---|---|---|---|
| meme | Pons and long.xyz coins | 20% | 55% | 5% |
| stock | tokenized stocks Pons accepts (NVDA, TSLA, SPY, QQQ, AAPL, GOOGL, MSFT, GME) | 70% | 80% | 3% |
Every tier sends 10% of its interest to the coin's reserve.
Caps
- Per coin: all borrowers together can owe at most 10% of the coin's pool.
- Per wallet: one wallet can owe at most 5% of the coin's pool.
The caps are re-read from the pool every hour. The ledger shows how much of each coin's cap is left.
How a bag is valued
The bank does not use the chart price. A bag is worth the lower of:
- tokens × price, and
- what selling the whole bag into its pool would fetch right now.
A big bag in a small pool is worth less than its price says, and the bank knows it before it lends. Coins paired with ETH or a stock are priced along the whole route to USDG.
For borrowing, the price is the one seen at the end of an earlier block, never the current one. For stocks, the borrow price is also capped at the Chainlink feed plus 5%, so a thin pool cannot lend more than the real market says.