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

# FAQ

## The basics

<details>

<summary>Is it really 0% interest?</summary>

Yes. No interest is charged, none accrues, and nothing is due during the term. It is not a promotional rate.

It is not the same as free. The cost is paid in upside above the call strike rather than in cash. See [Fees and Revenue](file:///8003494/operations/fees-and-revenue.md).

</details>

<details>

<summary>How much can I borrow?</summary>

50% of the value of the tokenised BTC you deposit. Deposit 1 BTC at $100,000 and you can claim $50,000 USDC.

</details>

<details>

<summary>How long is the term?</summary>

12 months, fixed, from your vault's start date. It cannot be shortened or extended.

</details>

<details>

<summary>Can I be liquidated?</summary>

No. There is no liquidation mechanism and no margin calls, at any price.

</details>

<details>

<summary>Do I keep the Bitcoin upside?</summary>

Up to the call strike, yes — every dollar. Above the call strike, gains fund the financing and are not yours. That is what pays for the 0% rate and the downside protection.

</details>

<details>

<summary>Am I protected if Bitcoin crashes?</summary>

Partly. Below the put strike, the collar's protection limits how far your loss can go. Between your deposit price and the put strike, the fall is yours. It bounds the downside — it does not remove it.

</details>

<details>

<summary>Where are my strike levels set?</summary>

When your vault's deposit window closes and the collar is placed. They reflect market conditions on that date, are published to you before you claim, and cannot change during the term.

</details>

## Depositing

<details>

<summary>What can I deposit?</summary>

Tokenised BTC — WBTC, cbBTC and similar. The accepted list is published for each vault. See [Supported Collateral](file:///8003494/introduction/supported-collateral.md).

</details>

<details>

<summary>When can I deposit?</summary>

During the first seven days of each month. A new vault opens every month. See [Vault Schedule](file:///8003494/introduction/vault-schedule.md).

</details>

<details>

<summary>Can I deposit into more than one vault?</summary>

Yes. Each deposit is a separate position with its own strikes, maturity and redemption window.

</details>

<details>

<summary>Do I have to claim the USDC?</summary>

No. If you never claim, you hold a collared BTC position with nothing to repay — you keep the protection and still give up upside above the call strike.

</details>

## Getting out

<details>

<summary>Can I withdraw early?</summary>

No. Once the deposit window closes and the collar is placed, the vault is sealed until maturity. There is no early exit for any reason.

</details>

<details>

<summary>How quickly do I get my collateral back?</summary>

After the collar settles and the 7–15 day redemption window closes. Not on the day you repay.

</details>

<details>

<summary>What if I can't repay?</summary>

Collateral is released against repayment, so no repayment means no redemption. Full non-repayment terms will be published before the first vault matures.

</details>

<details>

<summary>Is there an automatic rollover?</summary>

No. Repay, settle, redeem, and the position closes. To continue, deposit into a currently open vault at new strike levels.

</details>

## Safety

<details>

<summary>Where is my BTC during the term?</summary>

Held by FalconX under the collar, through vault infrastructure operated by Accountable. It is not in the vault contract during the loan period. See [System Architecture](file:///8003494/vault/system-architecture.md).

</details>

<details>

<summary>Is the contract audited?</summary>

Audit reports will be published at [Security and Audits](file:///8003494/operations/security-and-audits.md). Until they are, treat the contracts as unaudited from your own perspective.

</details>

<details>

<summary>Where do I find the correct address?</summary>

Only from [Contract Addresses](file:///8003494/operations/contract-addresses.md). Never from a DM, a support chat or a social media link.

</details>