> For the complete documentation index, see [llms.txt](https://ghast-protocol.gitbook.io/ghast-protocol/llms.txt). Markdown versions of documentation pages are available by appending `.md` to page URLs; this page is available as [Markdown](https://ghast-protocol.gitbook.io/ghast-protocol/features/liquidation-free-money-market.md).

# Liquidation-Free Money Market

We will allow users to use gmdTOKENS from GMD Protocol as collateral to borrow the corresponding assets. \
\
As users will receive gmdTOKENS as receipt tokens for their positions in the Delta-Neutral Vaults, our Money Markets will allow users to use gmdTOKENS as collateral to borrow 80% of the value in the corresponding asset. There will be Lending and Borrowing Markets for the following gmdTOKENS: 

* $USDC and $gmdUSDC
* $ETH and $gmdETH
* $BTC and $gmdBTC

\=> gmdTOKENS are 100% liquid and can always be withdrawn for the corresponding value from GMD Delta-Neutral Vaults

## <mark style="color:orange;">Supply Market:</mark>&#x20;

* Depositing $USDC to earn yield and fees
* Depositing $ETH to earn yield and fees
* Depositng $BTC to earn yield and fees

## <mark style="color:green;">Borrow Market</mark>

* Use $gmdUSDC as collateral to borrow $USDC
* Use $gmdETH as collateral to borrow $ETH
* Use $gmdBTC as collateral to borrow $BTC