Lygos charges 10% APR with $0 origination fees using non-custodial (dlc). SALT charges 9.95%–14.45% APR with $0 origination fees using custodial. See the full breakdown of rates, thresholds, and custody risk below.
Rates verified 2026-05-14
Lygos offers a lower headline rate at 10% compared to SALT's 9.95%–14.45%. On a $1M loan held for 12 months, Lygos saves $9,500 in total first-year cost (interest plus origination fees). From a custody perspective, Lygos presents lower counterparty risk with its non-custodial (dlc) model.
SALT structures rates by LTV ratio rather than loan amount, so the rate depends on how much collateral you pledge relative to the loan. Total year-1 cost includes both annualized interest and any origination fees charged upfront.
| Loan Size | Lygos APR | SALT APR | Lygos Total Year-1 Cost | SALT Total Year-1 Cost | Savings |
|---|---|---|---|---|---|
| $100,000 | 10% | 10.95% | $10,000 | $10,950 | $950 with Lygos |
| $250,000 | 10% | 10.95% | $25,000 | $27,375 | $2,375 with Lygos |
| $500,000 | 10% | 10.95% | $50,000 | $54,750 | $4,750 with Lygos |
| $1M | 10% | 10.95% | $100,000 | $109,500 | $9,500 with Lygos |
| $5M | 10% | 10.95% | $500,000 | $547,500 | $47,500 with Lygos |
Total year-1 cost includes annualized interest plus origination fees. Lygos: $0 origination fee. Rates sourced from each lender's public rate pages as of 2026-05-14.
Lygos and SALT take fundamentally different approaches to collateral custody. Lygos uses Non-custodial (DLC). Your Bitcoin is locked on the Bitcoin blockchain in a smart contract. Neither Lygos nor any third party can access or move your collateral. SALT uses Custodial. Your Bitcoin is held by SALT and could be at risk in the event of a hack, insolvency, or regulatory action.
Lygos triggers margin calls at 70% LTV and liquidates at 85% LTV. SALT triggers margin calls at 83.33% LTV and liquidates at 90.91% LTV. SALT gives borrowers 48 hours to respond to a margin call. Lygos uses threshold-based triggers without a fixed response window.
| Threshold | Lygos | SALT |
|---|---|---|
| Max Starting LTV | 50% | 70% |
| Margin Call | 70% LTV | 83.33% LTV |
| Margin Call Window | Threshold-based | 48 hours |
| Liquidation | 85% LTV | 90.91% LTV |
Lygos: 35.0 percentage point buffer between starting LTV (50%) and liquidation (85%). SALT: 20.9 percentage point buffer between starting LTV (70%) and liquidation (90.91%). Lygos provides a wider safety margin.
The choice between Lygos and SALT comes down to three factors: total cost, custody architecture, and who the platform is designed for. Lygos serves borrowers from $50,000 to $50,000,000 with a single transparent rate and non-custodial DLC security. SALT serves a broader range starting from $1,000, using custodial.
On a $250,000 loan, Lygos costs $25,000 in the first year versus $27,375 at SALT, a difference of $2,375. Lygos charges no origination fee, so the only cost is interest.
The custody difference is material. Lygos uses non-custodial (dlc), which means your Bitcoin is locked on the Bitcoin blockchain in a smart contract where no party can access it. SALT uses custodial. In a platform insolvency scenario, Lygos borrowers' collateral is protected by the Bitcoin protocol, while SALT borrowers may face creditor claims.
Lygos is the better fit for borrowers who prioritize non-custodial security, want a single transparent rate, and are borrowing $50,000 or more. SALT is the better fit for borrowers who need smaller loans or more flexible access.
Key details to be aware of: SALT: Rates vary by LTV x term matrix. 'Stabilization' at 90.
Lygos is cheaper. On a $500,000 loan held for 12 months, Lygos costs $50,000 (10% APR) while SALT costs $54,750 (10.95% APR). That is a $4,750 difference in the first year.
Lygos uses non-custodial (dlc). SALT uses custodial. Lygos presents lower custody risk because your collateral is locked on the Bitcoin blockchain where no party can access it.
Lygos's minimum loan is $50,000. SALT's minimum is $1,000. SALT is more accessible for smaller borrowers.
Lygos issues a margin call at 70% LTV (threshold-based, no fixed window) and liquidates at 85% LTV. SALT issues a margin call at 83.33% LTV with a 48-hour response window and liquidates at 90.91% LTV. Starting from a 50% LTV, Lygos provides a 35-point buffer before liquidation, while SALT provides a 41-point buffer.
It depends on your priorities. Lygos (10% APR, non-custodial (dlc), min $50,000) is better for borrowers who prioritize non-custodial security and want a flat transparent rate. SALT (9.95%–14.45% APR, custodial, min $1,000) is better for borrowers who value custodial and need smaller loan access. Use the rate table and cost comparison above to model your specific scenario.
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