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Self-repaying loans · No liquidations · 90% LTV · 15% yield fee
Loan repays itself from yield · Claim collateral after full repayment
Deposit alUSD or alETH · Receive underlying collateral as borrowers' earmarked debt redeems · 1:1 · Pro-rata
Redemption events fire periodically · Rate governed by ALCX vote
Model how yield and redemption affect your position over time
0.30% fee on all swaps · Fee goes to protocol treasury