Covenant is building liquid, tradeable debt markets to borrow and lend against any tokenized asset.
Covenant creates capital-efficient debt markets, where borrowers mint debt against long-tail and hard-to-price collateral, and lenders can access market-priced debt opportunities. For this, we introduce a new DeFi primitive: tradeable perpetual debt.
Here you will find short intros to Covenant, including details on the protocol debt product, a litepaper explaining tradable perpetual debt, as well as guides on how to use the app.
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