> 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. You can borrow USDC against your crypto at one rate that does not change, or lend USDC and know what you will earn before you start.

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](/using-liquyn/borrow.md)
* [Refinance a HyperLend loan](/using-liquyn/refinance.md)
* [Earn on your crypto](/using-liquyn/earn.md)
* [Fixed-term lending](/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.