# Introducing Sixpence

## 1. Overview

**Sixpence is a decentralized lending protocol built to unlock liquidity and yield from tokenized real-world assets (RWAs), especially** **liquidity from on-chain equities.**

Instead of leaving tokenized stocks idle, Sixpence allows users to:

* Earn yield by supplying on-chain stocks as liquidity
* Borrow against their positions without exiting the market
* Access on-chain stock lending to build more flexible strategies

At its core, Sixpence introduces a new primitive:

> **Turning on-chain equities into productive, yield-generating assets**

## 3. Supply & Borrow

The **Supply and Borrow modules** work together as the core engine of Sixpence, turning on chain assets into flexible and productive capital.

Users begin by supplying tokenized equities as well as stable assets such as USDC and USDT into the protocol, where they become part of the lending market. 

Once supplied, these assets start earning yield from borrowing demand, while users remain fully exposed to their underlying positions. At the same time, supplied assets act as collateral, forming the foundation for accessing liquidity within the system.

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With collateral in place, users can borrow directly against their positions. Instead of selling their holdings, they can access stable assets or additional on chain equities, allowing them to unlock capital and redeploy it into new opportunities while staying in the market.&#x20;

The amount available to borrow is determined by the value of supplied assets and the protocol’s collateral parameters, ensuring positions remain properly secured.

<figure><img src="/files/X6so2TluFrJrcbeMJJUb" alt=""><figcaption></figcaption></figure>

As users manage their positions, they can repay borrowed assets at any time. Repayment reduces outstanding debt, improves the safety of the position, and restores borrowing capacity. Once debt is reduced or fully cleared, users are able to withdraw their supplied assets, returning capital back to their wallet while maintaining full control over their portfolio.

This creates a continuous and flexible cycle where capital moves seamlessly through the system. Supply provides liquidity, borrowing unlocks capital, repayment restores flexibility, and withdrawal returns assets to the user. Rather than remaining idle, assets are constantly in use, adapting to user activity and market demand.

By combining liquidity provision and collateralized borrowing within a single unified framework, Sixpence enables a more efficient on chain financial experience where users can hold, earn, borrow, and redeploy capital within the same system.

***

**Key Value**

* Supply on-chain stocks and stable assets as productive liquidity
* Earn yield from borrowing demand while maintaining full exposure
* Borrow against positions without selling underlying assets
* Access both stablecoins (USDC/USDT) and on-chain equities within the same system
* Enable flexible strategies such as hedging, leverage, and capital redeployment
* Power a self-reinforcing liquidity loop where supply and demand drive yield

***

## 4. Trade & Swap

The **Swap** function allows users to seamlessly exchange assets within the Sixpence ecosystem, enabling capital to be redeployed instantly after borrowing or supplying.

After accessing liquidity through the Borrow module, users can swap between supported assets, including stable assets such as USDC and USDT and on chain equities. This provides a direct path from liquidity to execution, allowing users to reposition their portfolio without leaving the protocol.

Swap plays a key role in making the system efficient and flexible. Instead of withdrawing assets to external platforms for trading, users can adjust their positions within the same environment, reducing friction and improving capital efficiency.

This functionality supports a wide range of use cases. Users can rebalance their portfolio, increase exposure to specific equities, or shift between stable and risk assets based on market conditions. Combined with Supply and Borrow, Swap completes the loop, enabling users to move from liquidity to action in a single, unified workflow.

**Key Value**

* Swap between stable assets and on chain equities within the protocol
* Redeploy borrowed capital instantly without leaving the system
* Adjust positions and rebalance portfolios with minimal friction
* Improve capital efficiency by keeping all actions on chain
* Enable faster response to market changes and opportunities

<figure><img src="/files/5uzgr3U4IQCR683xGtgh" alt=""><figcaption></figcaption></figure>


# Supply & Borrow

Supply and Borrow turn your on chain assets into productive capital, allowing you to earn yield while staying exposed and unlocking liquidity through collateral.

### Feature Overview

Supply & Borrow lets you:

* Supply assets and start earning from lending demand
* Stay exposed while your assets generate yield
* Use your assets as collateral
* Borrow without selling
* Unlock liquidity and put it to work

### Step-by-Step Guide

**1.Supply**

<figure><img src="/files/6Vb5YsbWAN8Cg6o36ipA" alt=""><figcaption></figcaption></figure>

Choose the asset you want to supply as liquidity.

**2.Supply Transaction**

<figure><img src="/files/UU84Xcfu6zY5rINU4YYi" alt=""><figcaption></figcaption></figure>

Check the supply APY, enter the amount, choose a gas speed, and confirm.

**3.Borrow**

<figure><img src="/files/RcuHwz93adS0f7poUaV8" alt=""><figcaption></figcaption></figure>

After supplying liquidity, you can borrow your desired asset. Review the amount, select a gas speed, and confirm.

**4.Repay the borrow**

<figure><img src="/files/96hF7WJOrvT0AummsVOn" alt=""><figcaption></figcaption></figure>

Repay your borrow to reduce debt, make your position safer, and free up more collateral.

**5.Withdraw the liquidity**

<figure><img src="/files/HH4FfgVJjS6FpFJreUyG" alt=""><figcaption></figcaption></figure>

Withdraw your supplied liquidity and check your health factor before confirming.

#### 4. Review Key Info

Before confirming the trade, review the following details:

* **Health Factor**\
  Health Factor shows how safe your position is when you have borrowed assets.
  * **Above 2.0** → Your position is safe
  * **1.0** **- 2.0** → Risk is increasing
  * **Below 1.0** → Your position may be liquidated
* **Pool liquidity**\
  Pool liquidity is the total amount of assets available in the protocol for users to borrow or swap.
* **LTV (Loan-to-Value)**\
  LTV (Loan-to-Value) is the percentage of your supplied assets that you can borrow.
* **APY (Annual Percentage Yield)** \
  APY (Annual Percentage Yield) is the estimated yearly return you can earn on your assets.


# Earn

Earn allows you to deposit on chain stocks and stable assets into the Sixpence Vault and start earning yield.

### Feature Overview

Earn lets you:

* Generate yield from on chain stocks without selling
* Deploy USDC and USDT to earn directly
* Keep your positions while earning from lending demand
* Deposit into vaults and earn without managing strategies
* Put unused assets to work instead of leaving them idle

### What is a Vault on Sixpence?

A **Vault on Sixpence** is a place where you can deposit your assets and earn yield without managing positions yourself.

You deposit into a vault and the system puts your capital to work within the Sixpence. Each vault has its own strategy and asset allocation. Your funds may be distributed across multiple on chain assets such as tokenized stocks and stable assets like USDC and USDT.

### Step-by-Step Guide

**1.Select A Sixpence Vault**

<figure><img src="/files/tRYaPwctWUNtgiYkr3Sq" alt=""><figcaption></figcaption></figure>

Pick a Sixpence Vault you prefer, then click **Deposit** to view its details.

**2.Filter by Token**

<figure><img src="/files/CEjBOi5oCFvhxEvlFZc9" alt=""><figcaption></figcaption></figure>

Filter by token and view its Net APY.

**3.Set the Gas Speed**

<figure><img src="/files/yNegB1QookEHuuBHzfpE" alt=""><figcaption></figcaption></figure>

Choose the gas speed for your transaction. The default setting is **Normal**.

**4.Deposit**

<figure><img src="/files/vCjmo4fZ65sGSiG7N5uy" alt=""><figcaption></figcaption></figure>

Click **Deposit**, then enter the amount you want to add to the vault.

#### Review Key Info

Before confirming the deposit, review the following details:

* **Exporsure**\
  **Exposure** shows which assets your funds are currently allocated to within a vault.\
  Current exposure includes NVDAon, CRCLon, HOODon, USDC, bbqUSDC, WETH, and USDT.
* **Token Net APY**\
  **Token Net APY** shows the yield contribution of a specific asset within the vault.
* **Vault APY** \
  **Vault APY** reflects the combined yield from all tokens in the vault.

#### Approve & Confirm

Once everything looks correct, click **Deposit** to proceed.

If it is your first time using the token, you may need to approve it first. After confirmation, the transaction will be processed on chain and your deposited assets will start earning yield in the vault.


# Trade

Swap lets you seamlessly exchange one asset for another across supported aggregators, all within Sixpence.

### Feature Overview

The **Trade** interface lets you:

* Exchange stable assets and on chain equities in one place
* Redeploy capital instantly after borrowing
* Adjust positions and rebalance with ease
* Stay within one seamless workflow
* Respond quickly to market opportunities

#### When Should You Use Swap?

* **Rebalancing collateral** between different assets (e.g. trading from USDC to CRCLon)
* **Repaying borrow** with another token
* **Optimizing strategy** assets with better yield opportunities

### Step-by-Step Guide

**1.Select Trade Asset**

<figure><img src="/files/cgrAzrSSWwO3dkJDWbWH" alt=""><figcaption></figcaption></figure>

Choose the stock you wish to trade to your wallet.

**2. Select Sell Asset**

<figure><img src="/files/lKTSjvma29KycYmUucTF" alt=""><figcaption></figcaption></figure>

Choose the asset you wish to exchange from your wallet. Enter the amount you want to swap.

**3. Select Buy Asset**

<figure><img src="/files/75jf0qGuUtLMLfsi6PEN" alt=""><figcaption></figcaption></figure>

Select the stock you want to receive. The amount will be calculated automatically based on the real time rate.

**4. Slippage Selection**

<figure><img src="/files/qvFo20dt0XLFbrTV6siE" alt=""><figcaption></figcaption></figure>

The swap uses a default slippage setting, you can adjust the slippage manually if needed.

#### Review Key Info

Before confirming the trade, review the following details:

* **Slippage Tolerance**\
  The maximum price difference you are willing to accept for the trade. You can adjust this based on your preference.
* **Route Through**\
  Sixpence use OKX DEX as default route through to execute the trade.
* **Price Improvement**\
  Indicates how your trade may affect the market price, especially for larger swaps.

#### Approve & Confirm

Once everything looks correct, click **Swap** to proceed.

If it is your first time using the token, you may need to approve it first. After confirmation, the transaction will be processed on chain and your new assets will be reflected in your portfolio.