Skip to main content
Gondor enables you to borrow USDC against your Polymarket positions.

​
How it works

  1. Choose the position you want to borrow against You can take isolated loans against individual Polymarket positions you hold.
  2. Deposit the position into Gondor Your selected shares are transferred from Polymarket into Gondor and become visible as collateral.
  3. Borrow against the position You may borrow up to 50% of the current value of your collateral. The borrowed USDC is automatically sent to your associated Polymarket account and increases your cash balance there.
  4. Repay the loan You can repay the principal and accrued interest using your Polymarket cash balance.
  5. Withdraw collateral You may withdraw collateral as long as your loan-to-value ratio remains at or below 50% after the withdrawal. In other words, at least twice the value of the outstanding loan must remain as collateral. Thus, you can withdraw all collateral only after the loan is fully repaid. Partial withdrawals may be possible depending on your current LTV. Withdrawn shares are automatically returned to your associated Polymarket account.

​
Supported markets

For the beta, our team manually selects the markets we support. Some markets may support only one outcome (Yes or No) if the alternative side is too illiquid. When selecting, we consider liquidity, spread, duration, resolution criteria, potential slippage and other factors.

​
Interest

Interest rates are dynamic and based on capital supply and demand for each specific position. To provide predictability, each market has a fixed maximum interest cap (10%, 20%, or 30%, depending on its risk profile). Regardless of supply and demand conditions, the rate will never exceed the cap. Interest is accrued continuously.

​
Available liquidity

Available liquidity represents the maximum amount you can borrow against positions in a given market at a specific moment. This value is continuously updated based on market conditions.

​
Liquidation threshold

Although the maximum loan-to-value ratio is 50%, the liquidation threshold is set at 77%. Because of this buffer, a position at maximum borrow will only be liquidated after an approximate 35% decrease in collateral value.

​
Example

  • Deposit 1,000 shares worth $0.60 each
  • Borrow $300 (50% LTV)
  • If the price falls by 35% to $0.39, the position is liquidated

​
Collateral price

Gondor takes a minimum of the best bid and a TWAP as collateral price. This removes incentive to inflate prices on Polymarket and borrow against overvalued collateral, while still giving genuine borrowers a fair and accurate price.

​
Early closure

Certain time-sensitive markets, such as elections, can become more volatile as they approach resolution. For these markets, Gondor applies an Early closure mechanism. Beginning 7 days before resolution, the liquidation threshold decreases linearly from 77% to 0% by the time the market resolves. This results in gradual liquidation of positions, repayment of outstanding loans, and return of any remaining collateral to the borrower. You can check whether early closure applies to a specific market in the Market overview. Users with open positions on such markets will be notified in advance.