Participants
The six participants in the CUSP network, and where each one plugs in.
Six kinds of participant use the CUSP network, and each comes to it for something different. Here is what each gets, with a link to the layer that explains how it works and why it is built that way.
Borrowers
Access liquidity without immediately selling outcome positions: borrow against eligible live positions on short, repriced terms, or take a settlement advance against a resolved claim.
Direct lenders
Select individual markets and collateral risks to fund, with every parameter, mark, and liquidation route published before capital moves.
Vault depositors
Delegate market selection and capital allocation to professional curators. Senior tranche for steadier, protected income; junior tranche for the levered residual.
Curators
Construct risk-managed strategies across approved CUSP Markets: select markets, cap exposure, rebalance, and remove what no longer fits the mandate.
Builders and venues
Create new outcome-credit markets using CUSP Risk and CUSP Clear, and underwrite or display any supported position from one Outcome Risk Object.
Liquidators
Compete to acquire unhealthy event collateral through specialist clearing mechanisms: auctions open with full risk data and settle atomically.
Each page goes past the feature to the reason behind it, since on this collateral the reasoning is the product.