how we operate
The arithmetic, the custody, and where we stand.
Spending power is a number derived from prices. This page says how it is derived, what a tap does to it, what happens when it falls, and who holds what.
How the number is made, and how it is spent.
- Spending power
- Every locked asset is valued and takes a haircut, so it counts for a share of its value rather than all of it. The shares, added together, are your spending power.How it works
- The required level
- Your locked collateral has to stay above a required level relative to what you have drawn. Below it, collateral can be sold to settle what you owe.
- A tap
- An approved charge is drawn against your collateral and adds to your drawn balance, which has to be repaid.
- When value falls
- As the cushion thins the account says so. Collateral can be sold to settle what has been drawn, at market prices and on the market's timing. Repaying part of the balance or depositing more restores headroom at any step.
custody
Who holds the assets, and who holds the keys.
- Your assets
- An asset you send us is held by Gether together with other members' assets. What you hold is a claim on those assets, and our records size it.
- Your keys
- You hold a balance with us, not a key. Gether holds the keys that can move the assets, so you are exposed to us as a counterparty. If we fail, are hacked, or make an operational mistake, you can lose assets our records say are yours. No insurance and no government scheme makes that loss good.
where we stand
A waitlist phase. Not a bank.
Gether is in a waitlist phase and is not a bank. The full disclosure is in the footer of every page.
Read it before you need it.
We will email you when access opens. The account agreement carries these terms. The documents are at /legal.