Aera · Cookie Chain
Borrow against your staked COOK without unstaking it.
Lock bCOOK as collateral and it keeps earning at BakeYourStake while you borrow COOK against it. Or lend COOK and earn the interest borrowers pay.
- Collateral
- Keeps earning
- Custody
- Always yours
- Rates
- Set by demand
Core market
COOK
Lend APY—
Borrow APY—
Available—
Utilization—
- Total supplied
- —
- Total borrowed
- —
Aera is not available on this network.Aera is not available on this network.
Collateral
bCOOK
- Collateral value
- —
- Locked in Aera
- —
Aera is not available on this network.Aera is not available on this network.
About Aera
- What is Aera?
- Aera is an overcollateralized lending market for COOK on Cookie Chain. You can lend COOK and earn the interest borrowers pay, or lock bCOOK as collateral and borrow COOK against it. There are no vaults, no strategies, no leverage loops and no governance token. It is non-custodial: every action is a transaction you sign yourself, and Aera never holds your keys.
- What do I earn for lending COOK?
- The lend rate is not fixed. It is derived from how much of the pool is borrowed: the borrow rate starts at 2% and climbs to 10% at 60% utilization, then steeply to 90% as the pool empties. Lenders receive that interest on the share actually lent out, less Aera's 15% reserve factor. Lending is free; there is no deposit fee.
- What does borrowing cost?
- Interest at the current borrow rate, which changes with utilization, plus a one-off origination fee of 0.15% taken from what you receive — you owe the full amount you asked for. The fee, the payout and the debt are all shown before you sign. Repaying is free.
- How much can I borrow against bCOOK?
- Up to 55% of what your collateral is counted at — which is not its face value. Aera applies the bCOOK exchange rate, then a 5% haircut, then the 55% maximum loan-to-value. Locking bCOOK does not unstake it: it keeps accruing staking rewards while it is held as collateral.
- When can I be liquidated?
- When your debt passes 65% of your counted collateral — not the 55% at which Aera stops letting you borrow. Those are two different lines, and reading them as one is the most expensive mistake available here. A liquidator repays part of your debt and takes collateral at a bonus of 8%, up to 50% of the debt in one go. Repaying is permitted in every state, including this one.
- What is aCOOK?
- The receipt for COOK you have lent. It does not pay out — its redemption value rises, so the same balance redeems for more COOK over time as borrowers pay interest. It is an ordinary token you can hold or transfer, but it cannot be posted as collateral: it is a claim on the pool you would be borrowing from.