> For the complete documentation index, see [llms.txt](https://perena.gitbook.io/perena/llms.txt). Markdown versions of documentation pages are available by appending `.md` to page URLs; this page is available as [Markdown](https://perena.gitbook.io/perena/products/perena-smart-borrow.md). # Perena Smart Borrow Borrow at negative interest rates against SOL or cbBTC. You deposit `SOL` or `cbBTC` as collateral and borrow against it while earning yield to pay off your debt. Compared to average overcollateralized lending protocols, Perena Smart Borrow goes one step further. Approved automation can use part of the unused capacity in the position to help offset your borrowing cost over time. You keep control of the position. You can deposit, borrow, repay, or withdraw anytime. ### Why people use it * Get liquidity without selling an asset you still want to hold. * Stay exposed to `SOL` or `cbBTC` while borrowing stablecoins to spend. * Automate liquidation and loan to value (LTV) ratio management. ### Why it makes sense Perena Smart Borrow works like a secured line of credit. This product is useful when you need cash, but you do not want to exit your position. That can matter if you: * still want upside exposure to your collateral, * want a simple secured borrowing product, * prefer less manual management after opening the loan. You post liquid collateral. You borrow against part of its value. The position must stay safely collateralized at all times. The main difference between Perena Smart Borrow and a traditional loan from, say, a bank, is that the loan is automated to keep your interest rate as low as possible. If the collateral you posted up lets you borrow more than you need, Perena Smart Borrow will borrow more on your behalf to deploy those funds into a more productive, higher yielding asset, thus helping pay off your loan overtime. ### At a glance * **Collateral:** `SOL`, `cbBTC` * **Borrow asset:** `USDC` * **User borrow limit:** up to `50%` LTV * **Underlying lenders:** Jupiter Lend and Kamino Lend * **Approved vaults:** Perena (preferred), Allez, Prime, RockawayRWA * **Network:** Solana mainnet ### Explore Perena Smart Borrow * [How Perena Smart Borrow works](/perena/products/perena-smart-borrow/how-perena-smart-borrow-works.md) * [Automation and risk controls](/perena/products/perena-smart-borrow/automation-and-risk-controls.md) * [Security and audit](/perena/products/perena-smart-borrow/security-and-audit.md)
Underlying infrastructure Perena Smart Borrow is powered by our design partner Hobba. Some external technical materials and audit artifacts still reference Hobba because they describe the underlying technology provider.