> For the complete documentation index, see [llms.txt](https://docs.liquyn.com/llms.txt). Markdown versions of documentation pages are available by appending `.md` to page URLs; this page is available as [Markdown](https://docs.liquyn.com/readme.md).

# Liquyn docs

Liquyn is fixed-rate credit on HyperEVM. Borrow USDC or HYPE at a fixed rate, or supply a pool and stake to earn variable yield.

These guides explain what each part of Liquyn does, what it costs and what can go wrong.

## Start here

* [What Liquyn is](/start-here/what-is-liquyn.md): the idea in two minutes
* [Getting started](/start-here/getting-started.md): what you need before your first loan or deposit

## Using Liquyn

* [Borrow USDC or HYPE](/using-liquyn/borrow.md)
* [Refinance a HyperLend loan](/using-liquyn/refinance.md)
* [Earn on your crypto](/using-liquyn/earn.md)
* [Lend USDC](/using-liquyn/lend.md)
* [lqUSDC and sLqUSDC](/using-liquyn/lqusdc.md)
* [Stake](/using-liquyn/stake.md)
* [Points and LIQYN](/using-liquyn/points.md)
* [Portfolio](/using-liquyn/portfolio.md)

## How it works

* [Rates and fees](/how-it-works/rates-and-fees.md): where the rate comes from and where fees go
* [Collateral and prices](/how-it-works/collateral.md): what you can lock, borrow limits and how collateral is valued
* [Liquidation](/how-it-works/liquidation.md): when collateral is sold and how to avoid it
* [The flywheel](/how-it-works/flywheel.md): how lenders, borrowers and stakers feed each other

## Before you use it

* [Risks](/before-you-use-it/risks.md)
* [Questions and answers](/before-you-use-it/faq.md)
* [Glossary](/before-you-use-it/glossary.md)

Nothing in these docs is financial, legal or tax advice, and no return is guaranteed.