Borrow

Closing and release

Close unwinds Save and Orca, repays the debt with interest and returns the rest. Release takes assets out of a debt-free account without touching either target.

Close

A close is a move in mode 1. Its steps may only redeem from Save and remove from Orca, and its end:

1. requires that no Save receipts or LP tokens are left,
2. repays the whole debt from the account's USDC,
3. sends the remaining USDC and all SOL to your wallet.

If the account's USDC can't cover the debt, the close fails. The app's Close tab plans the unwind, shows what you'll get back, and if there's a shortfall, offers to repay the difference from your wallet first.

Closing needs no health check and works at any health, including below 1.00, so an owner can always exit ahead of a liquidator as long as Save and Orca can unwind.

After closing

The account isn't deleted. Its rent stays with it, and you can use it again: fund it under Fund and borrow under Borrow.

Release

Release moves what's in a debt-free account to your wallet as it is: USDC, SOL, Save receipts or Orca LP tokens. It doesn't call Save or Orca and doesn't value anything, so it works even if:

• Save or Orca has upgraded and Yoke's moves through it are paused,
• Save or Orca is paused,
• a receipt balance is too small to redeem.

Release needs the owner's signature and a debt of zero. With debt outstanding, repay it from your wallet first; repaying never calls Save or Orca either. When the debt is zero, the Close tab offers it as Or take everything out as it is.

Next

• BorrowMovesOne transaction that moves funds between cash, Save and Orca: begin, up to nine steps, end. Either all of it lands healthy or none of it happens.
• ProtocolRisksWhat can go wrong for borrowers, lenders and liquidators, and what the program does and doesn't protect against.