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A u64 account holds supply and borrow positions keyed by HubAssetKey. Every account is bound to a spoke id >= 1; the spoke defines which assets the account can use and with which risk parameters. Read first: Markets.

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Storage

Account state is split across three controller records:
RecordHolds
AccountMeta(account_id)Owner, active spoke id, and position mode.
SupplyPositions(account_id)Map<HubAssetKey, AccountPositionRaw>.
BorrowPositions(account_id)Map<HubAssetKey, DebtPositionRaw>.
Account {
  owner: Address,
  spoke_id: u32,
  mode: PositionMode,
  supply_positions: Map<HubAssetKey, AccountPositionRaw>,
  borrow_positions: Map<HubAssetKey, DebtPositionRaw>,
}
Existing-account operations require the owner or an authorized delegate, except for intentionally open flows such as repay and liquidation.

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Positions

Supply and debt positions store scaled RAY balances. The live token amount is reconstructed from the current pool index: 
supply_actual = scaled_supply * supply_index / RAY
borrow_actual = scaled_debt * borrow_index / RAY
Supply positions also store the collateral risk parameters used by LTV, health-factor, and liquidation math.

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Spoke Risk

The account’s spoke provides SpokeAsset(spoke_id, HubAssetKey) configuration:
  • collateral and borrow flags;
  • paused and frozen flags;
  • LTV;
  • liquidation threshold;
  • liquidation bonus and protocol fee;
  • spoke-level supply and borrow caps;
  • optional oracle override.
There is no account category boost mode in the current protocol.

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Position Limits

An account can hold a bounded number of supply and borrow positions. Governance updates those limits through timelock. Exceeding either side reverts #109 PositionLimitExceeded.

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Risk Gates

GateWhenRule
LTVBorrow and indebted withdrawalWeighted collateral must cover total debt.
Health factorBorrow, indebted withdrawal, liquidationHF = weighted_collateral / total_debt; HF < 1e18 is liquidatable.
Minimum borrow collateralAny account with debtLTV-weighted collateral must stay above the configured USD floor.
Borrow and indebted withdrawal use strict oracle policy. Repay and debt-free withdrawal are de-risking flows.

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Position Modes

PositionMode gates strategy entrypoints:
ModeMeaning
NormalStandard supply and borrow.
MultiplyLeveraged collateral/debt loop.
LongDirectional long strategy.
ShortDirectional short strategy.

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Next

Risk parameters

Units, ranges, and configured values for market and spoke risk parameters.

Health factor

Health-factor formula and WAD examples.

Liquidations

Liquidation rules after health factor drops below one.

Strategies

Strategy modes and route-driven account flows.