How Revv
works.

Revv lets you borrow against tokenized stocks instead of selling them. You deposit shares you already hold, a credit line opens against their value, and you draw from that line in USDC.

Your shares stay yours. They are held as collateral while the line is open. You keep the exposure, so if the stock goes up, that gain is still yours. When you repay, the shares unlock.

The line is paid out in USDC to your own wallet. You can also apply for the Revv card, which lets you spend from the same line anywhere major cards are accepted.

Revv is in pilot. During the pilot, stocks you deposit are held in a wallet controlled by Revv until you withdraw them, draws are paid from Revv’s own USDC, and no interest is charged.

Four numbers describe every line.

• Collateral. The current market value of the stocks you have deposited.
• Loan-to-value. The share of that value you are allowed to borrow. Each stock has its own maximum.
• Line. Collateral multiplied by loan-to-value. This is the most you can have drawn at one time.
• Drawn. The USDC you have borrowed, plus interest accrued on it.

What you can still borrow is the line minus what you have drawn. Because collateral is priced live, your line moves with the market: it grows when your stocks rise and shrinks when they fall.

Health factor

The health factor is a single number that tells you how safe the line is. It compares your collateral, at its liquidation threshold, with what you owe.

health = (collateral × liquidation threshold) ÷ drawn

Above 1, the line is safe. At 1 or below, it can be liquidated. The more room you leave between what you draw and your full line, the higher the health factor and the further prices have to fall before anything happens.

Each supported stock is a tokenized share of a listed company. Terms are set per stock, because some names move more than others. The stocks page in the app shows live prices alongside these terms.

StockMax LTVLiquidation

NVIDIANVDAx70%80%AppleAAPLx75%85%TeslaTSLAx60%70%MicrosoftMSFTx75%85%AmazonAMZNx70%80%MetaMETAx70%80%AlphabetGOOGLx75%85%AMDAMDx65%75%PalantirPLTRx55%65%CoinbaseCOINx55%65%NetflixNFLXx70%80%ShopifySHOPx65%75%

Terms can change as market conditions change. The app always shows the values that apply right now.

No interest is charged during the pilot. This section describes how it will work afterwards.

You pay interest only on what you have drawn, for as long as it is drawn. An open line with nothing drawn costs nothing.

The rate is variable. It rises when more of the available USDC is being borrowed and falls when less is. The app shows the current rate before you draw, and the planner on the Borrow page estimates the monthly cost of any amount.

You can repay any amount at any time. Repaying reduces what you owe immediately, and interest stops on the part you repaid.

Liquidation is what protects the USDC that was lent to you. If your collateral falls far enough in value that the health factor reaches 1, part of your collateral can be sold to repay the line.

You can avoid it in two ways: repay some of what you have drawn, or deposit more collateral. Either one raises the health factor straight away.

An example

You deposit 100 shares of NVIDIA at $200 each, so your collateral is $20,000. With a maximum loan-to-value of 70%, your line is $14,000.

You draw $10,000. Your health factor is 1.60. The line would become liquidatable if the share price fell to about $125, a drop of roughly 38%.

Had you drawn the full $14,000 instead, the same line would be liquidatable after a much smaller fall. Leaving room is the single most effective protection.

The Revv card is a virtual card that is topped up in USDC from your line. It lets you spend what you have borrowed directly, without first moving it anywhere else.

• It works anywhere major cards are accepted, including online checkouts and subscriptions.
• You can add it to Apple Pay or Google Pay and tap to pay in person.
• Card spending and wallet draws come from the same line, so there is one balance and one health factor to watch.

The card is available by application. You need an open line to fund it. Issuing a card involves a card issuer, who may ask you to verify your identity before the card is activated.

Apply for the card

Borrowing against stocks is not risk free. These are the ones to understand before you draw.

• Liquidation. If your stocks fall far enough, some of them can be sold to repay your line. You could end up with fewer shares than you started with.
• Market moves. Stocks can gap sharply, especially around earnings or outside regular trading hours. A line that looks safe can become unsafe quickly.
• Variable interest. The rate can rise while your line is open, which increases what you owe over time.
• Tokenized stocks. The tokens are issued by third parties. Their value depends on the issuer continuing to back and redeem them.
• Smart contracts. The line runs on software. Software can contain flaws, and transactions on a blockchain cannot be reversed.
• Your wallet. You control your own keys. If you lose access to your wallet, nobody can restore it for you.

Do I have to sell my shares?

No. That is the point. Your shares are held as collateral and returned as you repay.

What happens if my stock goes up?

Your collateral is worth more, so your line gets bigger and your health factor improves. The gain is yours.

What happens if it goes down?

Your line gets smaller and your health factor falls. If it gets close to 1, repay part of the line or add collateral. If it reaches 1, the line can be liquidated.

Can I repay early?

Yes. You can repay any amount whenever you like.

Where does the USDC go?

To the wallet you connected. If you have the card, you can also spend it from there.