Strike

cefi_strike · cefi_desk · operated by Strike

8 of 8 criteria researched.

Price

What does credit cost here, and how is the price formed?

Rate formation	posted_card source Published rate card at the desk's own site (cefi_credit_rates.source_url), re-fetched daily and last confirmed 2026-07-30. posted_card per v1 §8.2: the rate is an OFFER, not a transacted price — no desk publishes a loan book, which is why these venues' quantity and composition axes are declared unobtainable rather than missing.
Term structure	fixed_term source Strike rate card — 6-month term (term_days = 180), collateral locked mid-term.
Rate certainty	fixed_at_origination source Strike rate card — fixed posted rate: the Strike standard band (7.75–11.25%) plus a 2.95pp hedge premium.

Quality

What stands behind a position, and what can change under the reader?

Oracle dependency	none source Strike rate card (https://strike.me/en/lending/), product launched 2026-07-08 — "no margin calls or price liquidation". The loan's life does not depend on a price mark at all; Strike carries the price risk itself via a hedge, funded by a 2.95pp premium over its standard rate.
Default & liquidation	none source Strike rate card — no price liquidation. The position withstands an ~80% BTC drawdown provided payments stay current; default is payment-default only, with a 10-day grace period. Collateral is locked for the term.
Custody & backing	third_party_custodial source Strike rate card — desk custody WITH rehypothecation: "collateral re-postable to capital providers" (custody_model = custodial_rehypo_capital_providers). This is where the product differs sharply from an on-chain venue reading the same four structural columns.
Recourse	undisclosed source Not published. The card describes the remedy on payment default (grace period, collateral locked) but not whether the borrower is liable beyond the collateral.

Composition

Who and what makes up this market?

Collateral accepted	BTC (desk-held, representation not disclosed) source cefi_credit_rates.collateral_class = btc for every borrow product on this desk. Desks take native BTC into custody rather than a wrapped on-chain representation, so there is no token address to cite — which is also why none of this collateral is independently observable.
Observability	price: partial — Rate card held for a single effective date (2026-07-21) in cefi_credit_rates — a snapshot, not a history. A posted card is also an offer, not a transacted rate, which is what the posted_card mechanism label exists to say. The declared backfill_horizon is that one date. quantity: none — CeFi desks publish no loan book. Quantity is unobtainable at this venue, not merely unbuilt — declared rather than left blank, per spec §8.1. composition: none — CeFi desks publish no loan-level data. Unobtainable, not unbuilt.

Collateral accepted

BTC (desk-held, representation not disclosed)

source

cefi_credit_rates.collateral_class = btc for every borrow product on this desk. Desks take native BTC into custody rather than a wrapped on-chain representation, so there is no token address to cite — which is also why none of this collateral is independently observable.

Observability

price: partial — Rate card held for a single effective date (2026-07-21) in cefi_credit_rates — a snapshot, not a history. A posted card is also an offer, not a transacted rate, which is what the posted_card mechanism label exists to say. The declared backfill_horizon is that one date.

quantity: none — CeFi desks publish no loan book. Quantity is unobtainable at this venue, not merely unbuilt — declared rather than left blank, per spec §8.1.

composition: none — CeFi desks publish no loan-level data. Unobtainable, not unbuilt.

There is no score on this page and none will be added. The criteria are published and versioned before any venue is measured against them, and this venue's row is produced by the same pipeline as every other.