Before You Start

Read the terms of the particular facility. Axcess vaults can have different configurations, and an example in this guide is not a platform-wide promise.

What to Check

Check	Why it matters
Borrower and legal counterparties	Identifies who owes the obligations and who administers the facility.
Network, vault address, and supported token	Funds must be used on the correct network and in the correct asset.
Base APR, protocol fee, and lender net APR	Explains how interest is divided and avoids confusing APR with APY. Interest is compounded every epoch.
Minimum deposit and available capacity	Determines whether a deposit can be accepted.
Epoch length and withdrawal notice	Determines when a redemption request becomes eligible for funding.
Grace period and penalty APR	Explains the consequences of a matured withdrawal shortfall.
First-loss arrangement, if any	Identifies the amount and asset of the buffer, and the conditions under which it is applied.
Agreements and risk disclosures	Sets out eligibility, legal rights, enforcement procedures, and limitations.
Governance and audit information	Identifies privileged controls and the exact release covered by any published audit.

The Agreements Each Party Signs

Every facility rests on signed legal agreements. They are the source of each party’s rights, and of the recourse available if an obligation is not met. Each participant goes through its own agreement before taking part, and the app presents the lender’s agreement for acceptance before the first deposit.

Party	Agreement	What it does
Lender	Note Subscription Agreement, with the Issuer	Sets out the subscription for notes, the accrual of return, the withdrawal process, the lender’s pro rata share of any recovery, and the risk disclosures the lender acknowledges.
Borrower	Master Loan Agreement, with the Issuer	Sets out the facility: draws, interest, repayment, monitoring obligations, Events of Default, and the order of recovery.
Borrower	Title Transfer Collateral Agreement, with the Issuer	Transfers the first-loss buffer to the Issuer outright and fixes how it is sized, held, and applied for lenders on a default.
Signers of the first-loss wallet	First-Loss Signing Mandate, with the Issuer	Binds the individuals who control the first-loss wallet to sign only transactions that are consistent with the collateral agreement.
Axcess	Service Agreement, with the SPC	Appoints Axcess as technology service provider. It operates the platform and never holds capital or acts as principal.

Read the actual documents for your facility to identify the parties and rights involved. Legal Framework explains how these agreements fit together and the recourse each one provides. The current legal templates place a segregated portfolio company between note-holders and the borrower: lenders subscribe to the portfolio’s notes, and the company acts as lender of record to the borrower. They do not give note-holders a direct claim under the borrower’s Master Loan Agreement. The executed documents must confirm this structure for each facility; on-chain shares do not replace those documents. Wallet authentication, signing an agreement, approving token spending, and depositing are separate actions. A signature or token approval alone does not deposit your money.

Overview

For Lenders

For Borrowers

Risk and Recovery

Legal

Security

Questions

Before You Start

What to Check

The Agreements Each Party Signs