How The Cage works

The short version

You hand approved collateral to SolCage custody, and your deposit funds the advance directly: 20% of its value reaches you as USDC, straight to your wallet. The remaining 80% stays ring-fenced against your position. Repay the advance and custody returns the exact quantity of tokens you deposited.

1. DepositYou sign a transfer of SOLCAGE to custody. Nothing moves without your signature.
2. AdvanceYour deposit is converted at the price of that moment, and 20% of its value lands in your wallet as USDC.
3. RepayYou send back the exact USDC advance. No interest, no rolling balance.
4. ClaimCustody reacquires your token quantity and transfers it to your wallet.

This is not a margin loan. There is no interest meter, no health factor, and nothing gets liquidated out from under you while you hold the position.

Before you start

• Verify your wallet. Positions are tied to a wallet you have proven you control. Do this from your profile before opening anything.
• Only approved collateral is accepted. The Cage runs one enabled market at a time — currently $SOLCAGE. Sending any other token to custody is not a position and will not be credited.
• The terminal can be gated. If any operational check fails, the action button is disabled and reads launch readiness required. That is deliberate: the system refuses to take your deposit when it cannot complete the round trip. Live status is on the lending page.
• There are size caps. Each position has a maximum, and the market as a whole has a cap on how much collateral can be outstanding at once. Oversized deposits are rejected before anything is converted.

Opening a position

Enter the amount of SOLCAGE you want to put up and approve the transfer in your wallet. You are signing one specific transfer for one specific amount — custody never gets a standing allowance over your balance and cannot pull more later.

Once that transfer finalizes on Solana, your position exists, and the value of your deposit at that moment is what sets your advance.

Worth understanding: your position is denominated in tokens, not dollars. The deposit is converted when you open rather than parked in a vault, so from that moment what you hold is a claim on the same quantity — which custody reacquires in full before your claim releases.

What you receive

Your deposit’s value splits two ways, and both numbers are recorded against your position:

Every step — deposit, sale, advance, repayment, buyback, claim — is written to the audit journal on the lending page with its Solana signature, so you can check each transfer on-chain yourself.

What you owe

You owe exactly the USDC advance you received. Not more. The repayment amount is fixed the moment your position opens and does not grow with time.

• No interest. Holding a position for a week costs the same as holding it for an hour.
• No partial repayment. You repay the advance in one transfer, then claim.
• No deadline to repay. Nothing force-closes your position on a timer.

The repay tab pre-fills the exact amount owed. You approve that transfer in your wallet the same way you approved the deposit.

Getting your tokens back

After your repayment is confirmed, hit claim. Custody uses the held reserve plus your repayment to buy back the exact quantity of SOLCAGE you originally deposited, then transfers it to your wallet.

The claim will not release a partial amount. If the buyback cannot acquire your full token quantity, the position stays repaid and flagged rather than paying you out short, and the reason is shown on your position.

What you get back is the same number of tokens, not the same dollar value. If SOLCAGE tripled while your position was open, you get your quantity back and that appreciation is yours.

Position states

Your position moves through these states, and the terminal shows the current one:

Risks worth understanding

Worth reading before you open a position — these are the things that decide how it goes.

• A sharp rally can delay your claim. The budget for reacquiring your tokens is what the deposit was worth when you opened. If SOLCAGE runs hard before you repay, that budget may not stretch to the full quantity, and your claim is held for review rather than settling short.
• Market costs are real. Opening and closing a position each carry a market cost, so fees and slippage apply at both ends. Very small positions feel this most.
• Your upside is fixed to a quantity, not a price. While the position is open you hold a claim on that quantity rather than the tokens themselves — so the count you get back is the same whichever way the price moved.
• This is custody, not a trustless vault. An operator holds the assets and executes the round trip. Every step is signed and published, but you are trusting that operator to complete it.
• Only send from the wallet you verified. Transfers from another wallet will not match your position.

Playing the floor

Your advance arrives as USDC in your own wallet — it is not locked into the casino and the tables do not draw from it automatically. You decide what, if anything, to do with it.

Rounds on the SolCage floor settle to loyalty XP, which is what drives your position on the leaderboard and the weekly race. Every verified round earns XP, and so does opening a lending position.

• Referred players earn 1.25× XP on everything they do.
• Referrers earn a 10% bonus on the activity of players they bring in.
• XP is tied to a verified wallet. Unverified accounts do not rank.

Provable fairness

Every round is committed before you play and revealed after, so the result cannot be changed once your bet is in:

1. CommitThe server generates a secret seed and shows you its SHA-256 hash before the round.
2. Your inputYour own client seed goes into the draw, so the server cannot know the outcome alone.
3. RevealAfter the round, the server seed is published. Hash it yourself and it must match the commitment you were given.

Outcomes are derived with HMAC-SHA256 over the seed pair. The round ID, server hash, revealed seed, and your client seed are all shown with each result, so any round can be re-derived independently.

FAQ

Can I lose my collateral by playing?

No. Your position and the tables are separate systems. Game rounds settle in loyalty XP and never touch your custody position or your reserve.

What if I never repay?

Nothing is seized and nothing accrues. The position simply stays open, the reserve stays held against it, and you keep the USDC. You just do not get your token quantity back until the advance is repaid.

Can I repay from a different wallet?

No. Repayment has to come from the same verified wallet that opened the position.

Do I get back the same tokens I deposited?

The same quantity of the same token, reacquired for you before the claim releases. Fungible tokens have no individual identity, so quantity is the meaningful unit.

Why is the terminal disabled?

An operational check has failed — a missing market, a settlement route that is unavailable, or insufficient operator inventory. The live checklist is at the bottom of the lending page.

Where can I verify all of this?

The audit journal on the lending page links every deposit, sale, advance, repayment, buyback, and claim to its Solana transaction signature.