Peer-to-peer lending against Stock Tokens on Robinhood Chain. Borrow USDG without selling, or lend at a rate you set. Every loan settles on-chain.
Joined September 2026
- Tweets38
- Following0
- Followers269
- Likes49
Pinned Tweet
$SPATIAL is live on Robinhood Chain!
0xcf9aaca9b71b383046b01090c88317e593e032f3
Spatial is a peer-to-peer credit market for tokenized stocks on Robinhood Chain. Borrowers post Stock Tokens and set a max APR, lenders answer with gasless signed offers at their own rates, and one transaction fills the loan, with each lender getting an NFT for their slice. No pool and no utilization curve: every loan has its own fixed rate and term, risk stays with the lenders who funded it, and unhealthy positions clear through on-chain auctions.
Would you rather hold the shares than the cash?
When a loan on Spatial goes into liquidation, lenders are normally repaid in USDG from an on-chain auction of the borrower's collateral. But some lenders would happily own the stock instead.
So we let you choose.
Turn on self-liquidation when you make an offer, and if that loan is ever liquidated, you skip the auction. You receive the borrower's Stock Tokens directly, priced at the oracle quote, for everything your slice is owed, principal and interest included.
• No waiting on an auction to clear
• No protocol interest share taken on what you receive
• Ideal if you already like the stock and would hold it anyway
Your share is capped at your fair portion of the collateral, so taking shares never eats into what backs the other lenders on the same loan.
Waiting for a loan to fill doesn't have to mean idle cash.
On Spatial, lenders can post standing offers that sit on the book until a borrower comes along. Normally that USDG would just sit in your wallet earning nothing. With parking turned on, it doesn't have to.
How it works:
• Park your USDG in an approved Morpho vault on Robinhood Chain, and it earns the vault's yield while you wait
• Your parked balance still backs your standing offers
• The moment a loan fills, exactly the right amount is pulled from the vault and sent to the borrower, all in the same transaction
• When the loan is repaid, your money goes straight back into the vault to keep earning
You can withdraw whenever you like. Parking is completely optional, and it's free for now.
Earn the vault rate while you wait, and your own rate once your offer fills.
Stocks stop trading every night and every weekend. Your loan doesn't stop being protected.
Monday's open can land a long way from Friday's close, so Spatial changes the rules while markets are shut:
• Tighter limits. Borrowing and liquidation limits drop by 10 to 15 points while the market is closed. A Tier A loan that liquidates at 70% during trading hours uses 60% over the weekend
• A higher auction floor. If a loan does need to be sold while markets are shut, the price can't fall below 85% of the quote, up from 70% during trading hours. No cheap weekend fire sales
• Lenders choose. Any lender can opt their slice out of closed-market auctions completely, and it simply waits for the market to reopen
And through all of it, repaying your loan and adding collateral keep working at any hour.
How does a 200,000 USDG loan get funded without a whale?
On Spatial, every loan is a syndicate. Twenty lenders can each put in 10,000 USDG at their own rate, anywhere from 8.2% to 9.0%, and a single transaction pulls them all together into one loan.
What that means for lenders:
• Join big loans with small tickets. You fund the slice you want, not the whole thing
• Your rate is your rate. Each slice earns exactly the APR its lender set
• Your risk stays yours. There's no shared pool and no common bad-debt fund, so you carry your slice and nothing else
• Your slice is a token. Each one is an ERC-721 you can transfer to another verified lender, and payouts follow it
What it means for borrowers: you're not waiting on one big balance sheet. You pay the blended rate across everyone who funded you, and the loan is all or nothing, so it either fills completely or doesn't happen at all.
On Spatial, you don't have to take our word for anything.
The Explorer is a public record of every loan Spatial has ever made. No sign-up, no wallet, just open it and look.
For any loan you can see:
• The collateral, the amount borrowed and the blended rate
• Its live health factor
• Every lender in the syndicate, with their share and their rate
• A flight log of everything that's happened to it, from origination to repayment or auction, with each step linked to its transaction on Blockscout
Zoom out and you can check the whole market: how LTVs are spread across loans, how much is lent against each stock, every liquidation and the price it actually got, and the bad debt ledger, which is meant to read zero.
Every number comes straight from on-chain events. Anyone running their own indexer would see exactly the same figures.
Lenders can study the history before they lend. Borrowers can see what rates others really paid. And anyone can check that the rules running the market match the ones we've published.
Not every stock is the same, so Spatial doesn't treat them the same.
Every Stock Token on Spatial sits in a tier, and the tier sets how much you can borrow against it. Tiers are based on two things only: how deep the token's on-chain liquidity is and how good its price feed is. Brand and hype play no part.
Tier A, index funds and mega-caps like NVDA, AAPL and SPY: borrow up to 55%
Tier B, large single stocks: up to 45%
Tier C, the long tail, any token with a live Chainlink feed: up to 30%, and lenders choose token by token whether to fund it
Every lender can also set their own max LTV on each offer, so they can ask for a safer loan than the tier allows, but never a riskier one.
When the stock market closes for the night or the weekend, limits tighten by 10 to 15 points, because Monday's open can land far from Friday's close.
Pooled lending markets mostly stick to a short list of blue chips. Spatial is built to price the long tail too.
Your stocks keep working while they're pledged on Spatial.
A common worry with borrowing against stocks: what happens to my dividends? On Spatial, nothing slips away.
Robinhood Stock Tokens reinvest dividends automatically, so the tokens sitting in escrow simply become worth more. There's no separate payout to claim and nothing for anyone else to take. Your collateral grows on its own, which nudges your loan's health up too.
Stock splits don't disturb your loan either. The price feed accounts for the split, so your collateral keeps its correct value the whole way through, with no one needing to step in.
And if a split or merger is being processed, new loans and liquidations on that stock pause until it's done. Repayment never pauses, so you can always pay down your loan and take your shares back.
What happens on Spatial if the stock you borrowed against drops?
Every loan has a health factor, updated to the second. Here's what it means:
Above 1.10: you're healthy and there's nothing to do.
Below 1.10: you get an alert. Add more collateral or repay part of the loan, and you're back in the green.
Below 1.00: the collateral goes to a 45-minute auction, starting 3% above the market price and falling slowly from there. It only sells enough to cover the debt and a small penalty. Anything left over, including unsold shares, comes back to you.
No sudden dump into a thin market. Sales during weekends and market closures have a higher price floor, so a quiet Saturday can't turn into a fire sale.
Spatial retweeted
Spatial is integrating with Sectoral - @sectoralxyz!
We're partnering with @sectoralxyz, the private bank for people and their AI agents on Robinhood Chain. We reached out to them a few days back and have finally agreed on a mutually beneficial integration.
Sectoral gives people and AI agents USDG accounts where balances stay encrypted on-chain. Spatial is where those dollars can meet peer-to-peer loans against tokenized stocks. Here's what we're building together:
• Borrow and repay from a private balance: loan proceeds land in your Sectoral account, and repayments come straight out of it, without your balance sitting in plain view
• Agents that lend within your limits: a Sectoral agent account can fund Spatial offers or cover repayments, inside the daily caps, per-payment limits and approval thresholds you set
• Loan alerts where you bank: fills, health warnings and maturity reminders from your Spatial loans, delivered to your Sectoral feed
Users will start seeing updates to the platform and smart contracts from today onwards. Stay tuned.
onspatial.org | sectoral.xyz
Slice tokens that stay up to date in your wallet
When you lend on Spatial, you get a slice token for your share of the loan. Wallets and marketplaces save a copy of each token's details, so when we improve how slice tokens are displayed, those saved copies can go stale. Now we can tell them to refresh.
What's new:
• refreshMetadata: signals wallets and marketplaces to reload the details for a range of slice tokens, using the ERC-4906 standard they already understand
• Nothing about your slice changes. Your loan, your balance and the token itself stay exactly the same, and only the display gets refreshed
• It can target a specific range of tokens, so a refresh doesn't have to touch every slice ever issued
Only governance can trigger a refresh, and the change ships with a new SliceNote test suite covering refreshes, who can call it and invalid ranges.
Github commit: github.com/onspatialorg/spat…
More reliable treasury sweeps
FeeVault is where Spatial's protocol fees collect, and governance can sweep several fee tokens out of it in one go. Until now, sweeping a token that hadn't collected anything yet sent an empty transfer. Some tokens reject empty transfers, which could make the whole sweep fail.
What's new:
• Empty payouts are now skipped quietly, so one token with no balance can't block a sweep of everything else
• No more zero-value withdrawal records in the treasury history, which keeps the on-chain record clean and easy to audit
• Tokens that do have a balance are paid out exactly as before
Only governance can withdraw, and the change ships with a new test that runs a mixed sweep and confirms only the token with a balance moves and gets logged.
Github commit: github.com/onspatialorg/spat…
Re-verify a whole group of users in one go
Spatial users hold on-chain credentials that show they've been screened to borrow or lend. Issuers usually re-screen people in groups, such as everyone due for their annual check, but until now each renewal had to be sent one at a time. Now a whole group can be renewed in a single transaction.
What's new:
• renewMany: extends the credentials of a list of accounts in one call, all with the same role and the same new expiry date
• It's all or nothing. If any account in the list has no credential that can be renewed, the whole batch is cancelled and nobody's expiry changes, so a group is never left half-renewed
• Accounts left out of the batch keep their existing expiry exactly as it was
• It joins the existing batch tools for issuing and revoking credentials, so issuers can now manage whole groups at every step
Only approved issuers can renew, and the change ships with new tests covering batch renewals and the all-or-nothing rule.
Github commit: github.com/onspatialorg/spat…
Loan ending soon but not ready to repay? Roll it over.
Open a rollover before maturity and Spatial runs a 4-hour auction for new lenders. The rate starts at your current rate and rises slowly, so the market finds the lowest rate that gets you funded.
Once it fills, your old lenders are paid in full, your loan restarts on a fresh term, and your stocks never leave escrow. Nothing comes out of your wallet.
Spatial is integrating with Sectoral - @sectoralxyz!
We're partnering with @sectoralxyz, the private bank for people and their AI agents on Robinhood Chain. We reached out to them a few days back and have finally agreed on a mutually beneficial integration.
Sectoral gives people and AI agents USDG accounts where balances stay encrypted on-chain. Spatial is where those dollars can meet peer-to-peer loans against tokenized stocks. Here's what we're building together:
• Borrow and repay from a private balance: loan proceeds land in your Sectoral account, and repayments come straight out of it, without your balance sitting in plain view
• Agents that lend within your limits: a Sectoral agent account can fund Spatial offers or cover repayments, inside the daily caps, per-payment limits and approval thresholds you set
• Loan alerts where you bank: fills, health warnings and maturity reminders from your Spatial loans, delivered to your Sectoral feed
Users will start seeing updates to the platform and smart contracts from today onwards. Stay tuned.
onspatial.org | sectoral.xyz
100 people are now using Spatial!
When we started, the idea was simple: you shouldn't have to sell your stocks to get cash, and lenders should be able to set their own price instead of taking whatever a pool decides.
A hundred of you have now signed up to borrow against your stock tokens, lend at your own rate, or just kick the tires. Every one of you has helped shape what Spatial is becoming, through feedback, bug reports and a lot of good questions.
Thank you. This is still early, and there's plenty more on the way.
Lending on Spatial works differently.
No pool and no utilization curve. You set your own APR, amount, max LTV and term in a gasless signed offer, and your USDG stays in your wallet until a loan actually fills.
Each loan is funded by its own group of lenders, so your risk is yours alone. Every loan is overcollateralized with stock tokens, and if one turns unhealthy, the collateral is auctioned on-chain to repay lenders.
Your rate is fixed for the whole term.
Take a look at this to help you understand what $SPATIAL does for you as a holder!
What you get from holding $SPATIAL:
Spatial is a peer-to-peer credit market for tokenized stocks on Robinhood Chain. $SPATIAL connects holders to how that market is run and to what it earns. Here's what that means in practice.
30% of revenue goes to buyback and burn
Spatial earns fees whenever real lending happens: when a loan is originated, when interest is paid, when a loan is rolled over and when a position is liquidated. 30% of that revenue is used to buy $SPATIAL on the market and burn it, permanently removing those tokens.
The money comes from loans being made and repaid, not from emissions or incentives. As more people borrow and lend on Spatial, more revenue flows into buybacks, and every one of them reduces the supply that holders share.
A vote on how the market runs
The settings that decide how Spatial behaves, such as LTV tiers, haircuts when the stock market is closed, fees and exposure caps, are set by $SPATIAL holders. Every change that passes goes through a timelock and is published with its reasoning, so borrowers and lenders see it coming before it takes effect.
That makes holding $SPATIAL a real say in how risk is priced across the whole market, from which stocks qualify as collateral to how hard lenders are protected when prices move.
A say in where the rest of the income goes
After the buyback and burn, the remaining protocol income pays for audits, the bug bounty and day-to-day operations. How anything beyond that is put to work is decided by holders together.
Backed by real usage
You don't need $SPATIAL to borrow or lend, and no rate on Spatial is propped up with token rewards. That's deliberate. The token's value is tied to the market actually being used, through buybacks paid for by real fees and a vote over the parameters that keep that market healthy.
Learn more here: onspatial.org/tokenomics
Clearer numbers for parked lender funds
Lenders on Spatial can park idle USDG in an approved yield vault through the ReserveAdapter while they wait for loans to fund. Two new views make those balances easier to read, and stop the app offering a withdrawal that can't go through.
What's new:
• totalAssets: shows the full value of everything the adapter holds in the vault, which matches the sum of all lender positions
• maxWithdraw: shows the most a lender can take out right now, which is the smaller of their own position and what the vault can release at that moment
• When the vault is short on liquidity, the app can show the amount that will actually go through, so lenders don't hit failed withdrawals
Both are read-only views, so no funds move and nothing changes for existing positions. The update adds tests to the reserve suite covering totals across several lenders and full withdrawals.
Github commit: github.com/onspatialorg/spat…
Faster account checks when you connect to Spatial
Spatial controls who can borrow, lend and run liquidations through on-chain roles. Until now, the app had to ask about each role one at a time when a wallet connected. Now it can check them all at once.
What's new:
• rolesOf: checks a whole list of roles for one account in a single call and returns a yes or no for each, in the same order
• The registry looks up its credential source once per call, instead of once for every role
• Results follow revocations straight away, so a role that has been taken away shows as gone on the very next check
It's a read-only view, so it can't change anyone's access, and it ships with a new PermissionRegistry test suite covering mixed borrower, lender and liquidator roles and revocation.
Github commit: github.com/onspatialorg/spat…
Every Spatial loan is always in exactly one of six states, and you can see which.
Active: your collateral sits in escrow, you have the USDG and every lender's slice is earning interest. You can repay or add collateral at any time, and there's a 24-hour grace window after maturity before anything else can happen.
Refinancing: you've opened a rollover auction to move the loan to new lenders before it matures. Your current lenders keep earning until it clears, and you can back out.
Defaulted: a rollover ended short of its target. You can still repay in full, but a liquidation can now start at any time.
Liquidating: the collateral is being sold in a Dutch auction, with the price falling from a 3% premium to a floor over 45 minutes.
Settled: the auction is done. Lenders are paid what they're owed, and any surplus plus unsold collateral goes back to you.
Repaid: the debt is cleared, your collateral comes back and the slice tokens are burned.
Every move between states is a single transaction with its own event, so the Explorer can show each loan's full history with a Blockscout link for every step.
Full breakdown: docs.onspatial.org/how-loans…
