What is a money market in DeFi?

A money market lets people lend coins to earn interest and lets others borrow them against collateral, with rates that rise as more of a coin is borrowed.

Also called lending and borrowing or lending pool.

How it works on Rujira

  • Lenders deposit a coin and earn the interest borrowers pay, minus Rujira’s 10% protocol fee.
  • Borrowers lock collateral and can borrow up to a share of its value, set per coin.
  • Rates follow how much of a coin is already lent out, and loans have no fixed term.

What a public wallet gives away

An open loan on a public chain shows its collateral and its debt, and with them its liquidation price. A deposit shows how much you hold and where it earns, and over time maps your whole portfolio.

In Redacted

With Redacted the loan or the deposit is the same on Rujira, but it sits in a Spending account that doesn’t lead back to you.

Borrow and earn privately →

Related terms

Loan-to-value (LTV)Loan-to-value compares what you owe with what your collateral is worth. Borrowing $50 against $100 of Bitcoin is an LTV of 50%, and the higher it gets, the closer the loan is to liquidation.LiquidationA liquidation sells part of a borrower’s collateral to repay their loan when the collateral is no longer worth enough to cover it safely.Price oracleA price oracle brings market prices onto a blockchain so that smart contracts can use them, for example to value collateral and decide when a loan gets liquidated.RujiraRujira is THORChain’s app layer: orderbook trading, swaps, lending, borrowing, staking and more, all with native coins held as THORChain secured assets.

Sources: RUJI Money Market, Rujira documentation

Updated October 7, 2026. All terms