How borrowing works
Versioned terms: Existing V9 loans retain all-or-nothing maturity collateral treatment and immediate owner transfer. New V10 loans use floor-rounded pro-rata collateral settlement based only on repayments made before maturity and two-step ownership. Neither version permits a grace period or post-maturity cure.
Fuel Credit quotes fixed-term USDC advances against FUEL collateral.
1. Connect a wallet
Select Connect and choose Burner Wallet, Fuel Wallet, or Fuelet from the connector modal. The connected account and Disconnect action remain separate in the top navigation. Selecting the account opens My Loans.
Burner Wallet, Fuel Wallet, and Fuelet all use real testnet transactions and indexed onchain loan positions when Testnet is selected. Mainnet actions remain disabled.
2. Choose FUEL collateral
Enter an exact amount or use the slider. For Fuel Wallet and Fuelet, the estimator reads the verified network-specific FUEL asset balance and caps the slider at the available balance. Every connected testnet wallet uses its real tFUEL balance.
3. Select a term
| Term | Maximum LTV |
|---|---|
| 6 months | 20% |
| 9 months | 22.5% |
| 12 months | 25% |
A longer term permits a larger advance against the same FUEL collateral.
4. Review the quote
The quote shows:
- estimated final maturity date;
- fixed 10% borrowing APY;
- estimated one-time FUEL fee;
- USDC borrow amount;
- partial repayment support.
MVP status
On Fuel testnet, Burner Wallet, Fuel Wallet, and Fuelet use valueless tFUEL collateral and receive tUSDC from the funded lending pool. Users may make partial or full principal repayments strictly before maturity. Repayment never releases collateral early. After full repayment, the borrower claims all tFUEL in a separate transaction at or after maturity. Unpaid matured loans are terminal and may be finalized by anyone, sending collateral to the managed vault. Contract reads remain authoritative; indexing is a query projection. The mainnet contract, oracle, and indexer are deployed, but pools remain empty and public mainnet borrowing is disabled pending funding, lifecycle smoke, and separate activation approval.
5. Deposit
With any connected testnet wallet, Open testnet loan submits the real Fuel transaction. My Loans loads indexed account history and refreshes active positions from the contract.
The opening transaction submits collateral plus the complete upfront tFUEL fee and atomically receives the fixed tUSDC principal. A reusable five-minute Fuel secp256k1 oracle attestation supplies the current FUEL price and timestamp. The contract binds the caller as borrower and independently validates the term, computes LTV, principal and APY-derived fee, checks payment, and transfers tUSDC.
Repay, then claim
Repayment and collateral return are deliberately separate:
- Repay any amount of tUSDC before maturity.
- Complete repayment before maturity to avoid default.
- Wait until maturity.
- Use Claim tFUEL collateral from My Loans.
Only the borrower can claim a fully repaid loan's collateral. Claims before maturity and duplicate claims fail. The upfront fee is never refunded.
The live testnet My Loans view provides repayment, claim, calendar reminder, CSV export, and indexed-history details.