Terms

What this is

Pillar Finance is software, not a bank and not a lender of record. It is provided as is, without warranty, and responsibility for your own funds stays with you. There is no institution behind it that can reverse a transaction, restore a lost key, or make you whole.

What it costs

Pillar charges no interest on a loan, no origination fee and no early-repayment fee. The protocol takes a 10% share of the yield your collateral produces, and nothing else.

If that yield falls to zero, your debt stops shrinking. It never grows on its own, but it does not disappear either.

What you risk

Loans are overcollateralised and can be liquidated. Liquidation is partial by construction: the contract computes the smallest repayment that restores your position to health and rejects anything larger. You can still lose part of your collateral.

Collateral is tokenized equities and other assets whose underlying markets close. A price can gap while those markets are shut and your loan is live. Loan-to-value limits are set conservatively for that reason, but they do not remove the risk.

Pillar depends on systems it does not operate: the vault that produces yield, the price feed, the venue that fills the conversion swap, and the issuers of the collateral tokens and of USDG. A failure in any of them is a failure you experience.

When it refuses to act

New borrowing and collateral withdrawals are blocked whenever a price feed is stale. Repayment, deposits and yield harvesting are never blocked, because those actions only make your position safer.

Your responsibility

The protocol is in open beta and has not been audited. Nothing here is investment advice. You are responsible for your own tax position and for whether any of this is lawful where you live.

Questions: support@pillar.finance