Templar Wallet
- Keys on your computer
- You sign, in the wallet
- macOS, Windows, Linux
Alpha
Test network only, with coins that have no value. Today the collateral sits in a 2‑of‑2 contract with an expiry; the covenant described here is still in development.
With other bitcoin loans you rely on a custodian or a platform, and if the price drops your collateral can be sold.
- No custodianthe collateral sits in a covenant on Liquid
- No oracleif the price drops, the loan carries on
- Fixed rate, in installmentswritten in the proposal
- Hidden amountspeople watching the network can't see them
Proposal
How the loan works
Alice has 1 L‑BTC, bitcoin on Liquid. She needs dollars for 30 days without selling it.
01Bob proposes
40,000 USDt for 30 days at 2.5%, in 4 installments, with 1 L‑BTC as collateral. The proposal goes into the orderbook.
02Alice accepts
She picks Bob's proposal. Templar writes the contract with every possible exit.
03They sign
Each signs only their own part. After that, nobody can change amounts or recipients.
04Templar merges
One transaction: the collateral goes into the covenant, the dollars go to Alice, Templar takes its fee.
A payment every 10,800 blocks
Liquid makes about one block a minute: 10,800 blocks are seven and a half days.
1Alice pays
10,400, 10,300, 10,200 and 10,100 USDt, and only to Bob. After the last one the collateral goes back to Alice.
And if she doesn't pay?
Back to the opening. This time Alice pays nothing.
43,200 blocks go by
The collateral stays in the covenant. There is no grace period: block 43,201 is already late.
2Collateral goes to Bob
The covenant opens Bob's path and he takes 1 L‑BTC. Had Alice paid some installments, only the part that covers the debt.
Who loses if the price crashes?
The loan carries on: there is no oracle. Bob loses only if Alice doesn't pay and the collateral is worth less than the debt. That's why it is worth at least 150% of the loan: Bob asked for 200%.
Step 1 of 5
Where the collateral can go
The collateral sits in a covenant: a script on Liquid that accepts only the transactions written in the contract. The network's nodes check the rules. The collateral is worth 150% of the loan or more, as much as you like.
Templar runs the orderbook, joins the signatures and follows the contract until it closes. It earns a fee on every contract it opens, without lending its own money or holding funds.
Works with any asset issued on Liquid, tokenized securities included.
- Bitcoin
- Digital dollars
- Tokenized securities
- One-of-a-kind items
Today the app uses test L‑BTC and USDt
Docs · Collateral · Covenant · Installments · Assets
Four ways to borrow against bitcoin
Criterion
Templara contract between two peopleMultisig oraclesmultisig, the platform's price
Other blockchainsa token in a pool
Bankscollateral in custody
Bitcoin where the collateral sits
L‑BTC in a covenant
BTC in a multisig
A token instead of BTC
Held by the lender
Stablecoin what you get paid in
USDt on Liquid
Several chains, or euros
The same chain's stablecoin
Bank account, or stablecoin
Trust who you rely on
No custodian, no oracle
Platform and oracle
Custodian, oracle, governance
Lender and custodian
Privacy who sees the amounts
Hidden amounts
Public address
Everything public
Verified identity
Term what ends it
Fixed, no margin call
Fixed, with margin call
Open-ended, variable rate
With margin call
With Templar you still trust the USDt issuer, the covenant code and the Liquid federation, which holds the BTC.
The Templar column describes the full protocol; the alpha uses a 2‑of‑2 contract.
Docs · The comparison, cell by cell · Privacy
Every cost, before you sign
The proposal writes them down: whoever accepts reads them before signing, and they don't change after.
Interest
Fixed rate
at each installment or at repayment · borrower to lender
Opening fee
Optional
at opening · borrower to lender · in L‑BTC · can be zero
Templar's fee
At opening
when Templar joins the signatures · amount set in the proposal
On top, the Liquid network charges a few cents in L‑BTC per transaction.
Docs · Fees
Who controls it, who takes the risk
If you borrow
If you don't pay by the deadline you lose the collateral, or the part that covers the debt.
If you lend
If the price crashes and the borrower doesn't pay, the collateral can be worth less than the loan.
If the site shuts down
The covenant stays on Liquid: the borrower can still pay, and after the deadline the lender can still claim the collateral.
Your keys stay in your wallet
The wallet shares
- A read-only copy
- The public key for contracts
It never shares
- Seed and private keys
- Password or PIN
Sign with your own wallet
Templar prepares the transaction. Templar Wallet shows you what comes in and what goes out, and you sign only your part.
Sign with your own wallet
Templar prepares the transaction. Templar Wallet shows you what comes in and what goes out, and you sign only your part.
-
1 The site
The site prepares the transaction
-
2 templar://
A templar:// link opens the wallet · valid for 15 minutes
-
3 Templar Wallet
You check amounts and recipients, then sign
Test wallet
- The site holds the keys and signs for you
- In the browser, nothing to install
- Test network only; the loan terms are visible on-chain
Discover Templar Wallet
Code on GitHub
Alpha · test network
Open source (MIT) · signing on Android comes later
Start with the wallet
The market opens with the app. You can already install Templar Wallet and try it with test coins, no sign-up.
Go to Templar Wallet
Open the appcoming soon
Alpha · test network · coins with no value
Investors and partners: contact.templar@protonmail.com