Borrow against COMP
Teller pools accept COMP as collateral on 2 networks at up to 25% LTV, lending USDC at 25% APR, with no health factor to defend. Every loan is fixed-term with no margin-call, so a price fall during the loan cannot liquidate your collateral.
| Collateral | Network | LTV | APR |
|---|---|---|---|
| COMP | Ethereum | 25% | 25% |
| COMP | Arbitrum | 25% | 25% |
Pool data read . Rates and LTVs are set per pool and change when operators change them.
Borrowing against the token that started liquidity mining
COMP was the first governance token distributed to users for supplying and borrowing, and the mechanic it introduced in 2020 reshaped how every protocol since has bootstrapped. A lot of the supply reached people that way, as a byproduct of using Compound rather than as a purchase.
Teller pools take it on two chains: Ethereum at 25% LTV and 25% APR and Arbitrum at 25% LTV and 25% APR. Mainnet COMP is 0xc00e94cb662c3520282e6f5717214004a7f26888; the Arbitrum contract differs, and each pool takes one address.
Two ways to borrow, and they are not alike
Supplying COMP to Compound and borrowing against it there creates a position with a health factor. Let it slip and the position is liquidated at whatever the market offers in that moment.
A Teller loan against COMP has no health factor. Rate, LTV and the roll window lock when the loan opens, the protocol holds the tokens until you repay or roll, and nothing needs topping up in between. Different instrument, different job: this one is for a known amount over a known period, with nothing to watch.
Which balance the pool takes
The plain ERC-20. COMP supplied to a Compound market is a cToken position rather than a balance, and delegated voting weight stays with whoever you assigned it to only while you hold the tokens, so arrange delegation before you deposit.
The loan
Deposit COMP, receive USDC, repay or roll on the due date. Every loan is fixed-term with no margin-call, so a price fall during the loan cannot liquidate your collateral. Miss the due date and the collateral is forfeit. Gas on Arbitrum is a fraction of mainnet, which usually decides which row is worth using on a smaller loan.
Compare AAVE and the wider DeFi set.
Frequently asked questions
Supplying COMP there creates a position with a health factor that can be liquidated. A Teller loan is fixed-term with no threshold during it, so nothing needs topping up.
No. That is a cToken position rather than a balance. The pool takes the plain ERC-20 at the address it names.
Compare the rows. Gas on Arbitrum is a fraction of mainnet, which usually decides it on a smaller loan, and each pool takes its own chain's contract.
Voting weight follows the tokens, and the protocol holds them for the term, so arrange delegation before you deposit.
Nothing happens to the loan. There is no liquidation threshold during the term, so your obligation on the due date is unchanged.
Open a loan
Connect a wallet, deposit your collateral, and borrow a stablecoin. No credit check, no application.
Go to the borrow tab →No collateral to pledge? Check whether you pre-qualify for a no-collateral personal loan. Soft check, no hard pull.