Borrow against Bitcoin. Lend at auction-discovered rates. Explore the credit surface. No oracle. No algorithm. Just supply and demand.
Triggers taxes. Loses upside. Feels wrong. You bought at $12K and believe in $500K. Why sell for a car payment?
Celsius. BlockFi. Genesis. Custodial risk. Opaque terms. Bankruptcy. The 2022 collapse proved the model is broken.
Aave and Compound use oracles. Oracles can be manipulated. Your collateral can be liquidated by a flash crash that lasts 30 seconds.
3 minutes. No jargon. See how reverse auctions replace oracles with competition.
Lock WBTC (or any whitelisted ERC-20) as collateral. Set the loan amount, duration, and maximum rate you'll accept. Your auction goes live.
Lenders bid by offering lower repayment amounts. Each bid improves the rate. The best offer wins. Competition works in your favour.
The winning rate becomes a data point on the Bitcoin yield curve -- the first market-driven benchmark for crypto credit. Repay on time and reclaim your collateral.
No price oracle decides your fate. No algorithm guesses your rate. The market speaks.
Testnet data -- mainnet curve building soon. Faint regions indicate undiscovered rate tenors.
Every completed auction produces a data point: the rate the market actually charged for a loan at a given duration. Plot them all and you get the Bitcoin yield curve -- the crypto equivalent of the Treasury yield curve. It shows what credit costs when the market decides, not an algorithm.
Traditional finance has SOFR and Treasury yields. Crypto has nothing. No benchmark. No reference rate. The Gavel's yield curve is the first. It's built from real transactions, fully transparent, verifiable on-chain. And it's free.
Example rates for illustration. All DeFi rates are variable and subject to change.
Post-halving economics are brutal. Block rewards halved. Electricity didn't. You need USD for operations -- $20K to $100K every month. Selling BTC at cyclical lows to cover costs is the worst possible trade.
The Gavel lets you borrow USDC against your WBTC. Fixed duration. Fixed rate. No oracle-triggered liquidation at 3am. When your mining revenue comes in, repay the loan and reclaim your Bitcoin. Your stack stays intact.
| Sell BTC | Oracle DeFi (Aave) | The Gavel | |
|---|---|---|---|
| Keep your BTC | No | Until liquidated | Yes |
| Liquidation risk | N/A | Oracle manipulation, flash crashes | None -- no oracle |
| Rate certainty | N/A | Variable, changes hourly | Fixed at auction |
| Duration certainty | N/A | Can be liquidated any time | Fixed term you choose |
| Cost | Tax event + lost upside | Variable + liquidation penalty | Auction rate only |
You hold USDC. Banks pay you nothing. Aave gives you a variable rate set by an algorithm you can't influence. On The Gavel, you set the rate. You bid on auctions, competing with other lenders for the right to fund collateral-backed loans. You choose your duration, your risk tolerance, your yield.
Borrowers post 150%+ collateral. If they don't repay, you claim Bitcoin worth more than your loan.
No variable rate surprises. The rate you bid is the rate you get. The duration is set upfront.
The auction mechanism means fair pricing. If a rate is too low, don't bid. The market finds the equilibrium.
| Aave | Compound | Morpho | The Gavel | |
|---|---|---|---|---|
| Rate discovery | Algorithm | Algorithm | Matching | Competitive auction |
| Oracle dependency | Yes (Chainlink) | Yes (Chainlink) | Yes | None |
| Liquidation risk | Oracle-triggered | Oracle-triggered | Oracle-triggered | None -- fixed term |
| Rate type | Variable | Variable | Variable | Fixed |
| Duration | Undefined | Undefined | Undefined | Fixed (you choose) |
| Fees | Variable | Reserve factor | Protocol fee | Zero |
| Position tradability | No | No | No | Yes (NFT) |
The Gavel doesn't improve the oracle model. It replaces it.
Smart contract audit currently underway. Full report will be published and linked here upon completion.
No protocol fees. No listing fees. No hidden charges. Free to use, forever at the protocol layer.
Traditional finance has the Treasury yield curve -- the benchmark that prices all credit. Crypto has nothing. Every lending protocol uses algorithms that guess. The Gavel builds the real thing: a yield curve from actual market transactions, transparent and verifiable on-chain.
Today it prices Bitcoin-backed loans. Tomorrow it becomes the reference rate that every DeFi protocol, institutional desk, and treasury manager uses to price credit. The data is the product. The protocol is free.
Open-source Solidity contracts on Arbitrum. Verified on-chain. Interact directly — no frontend required.
View on GitHub →Integration guide, auction lifecycle, security model, and deployment reference.
Read the docs →Yield curves, credit surfaces, TCI, implied prices, and auction data. Free tier: 100 calls/day, no signup required.
Explore the API →$ curl https://api.thegavel.io/v1/yield-curve
{
"pair": "WBTC/USDC",
"computed_at": "2026-03-10T14:30:00Z",
"rates": {
"7d": 4.82, "14d": 5.41, "30d": 6.12,
"60d": 6.89, "90d": 7.23, "365d": 8.15
},
"fit": { "r_squared": 0.94, "data_point_count": 847 }
}Yield curve analysis, market signals, and credit market insights. Subscribe for free.
Experience oracle-free lending or explore the first market-discovered yield curve in DeFi.