Lygos charges 10% APR with $0 origination fees using non-custodial (DLC). SALT charges 7.49%–10.5% APR with $0 origination fees using custodial. See the full breakdown of rates, thresholds, and custody risk below.
Terms checked individually — Lygos: 2026-09-29; SALT: 2026-09-29.
For the standardized $250,000, 50% LTV, 12-month scenario, Lygos is 10% APR and SALT is 8.75% APR. Lygos: 50% LTV · 12-month term. SALT: 50% LTV · 1-year term.
On a $250,000 loan held for 12 months, SALT saves $3,125 in total first-year cost (interest plus applicable fees or charges).
From a custody perspective, Lygos presents lower counterparty risk with its non-custodial (DLC) model.
To keep the comparison clean, both lenders are modeled at $250,000 principal, 50% starting LTV, and a 12-month term, using monthly-pay pricing where available. Lygos pricing varies by flat rate; SALT pricing varies by starting ltv and term. Actual offers can differ when those inputs change.
| Loan Size | Lygos APR | SALT APR | Lygos Total Year-1 Cost | SALT Total Year-1 Cost | Savings |
|---|---|---|---|---|---|
| $250,000 | 10% | 8.75% | $25,000 | $21,875 | $3,125 with SALT |
Assumptions: $250,000 principal, 50% starting LTV, 12-month term, and monthly-pay pricing where offered. Total year-1 cost includes annualized interest and fees, but does not add a fee again when the lender's published APR already includes it. Lygos: $0 origination fee. Terms checked individually — Lygos: 2026-09-29; SALT: 2026-09-29.
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 depends on the security and solvency of that custody arrangement and could be at risk in the event of a hack, insolvency, or regulatory action.
Lygos: At-risk alert at 80%; no mandatory call. Positions liquidate at 90% 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 has no mandatory margin-call step; at-risk alert at 80%; no mandatory call.
| Threshold | Lygos | SALT |
|---|---|---|
| Max Starting LTV | 70% | 70% |
| Margin Call | At-risk alert at 80%; no mandatory call | 83.33% LTV |
| Margin Call Window | No margin-call window | 48 hours |
| Liquidation | 90% LTV | 90.91% LTV |
This comparison uses each lender's own maximum starting LTV, not a common 50% starting position. Lygos: 20.0 percentage point modeled buffer between maximum starting LTV (70%) and liquidation (90% LTV). SALT: 20.9 percentage point modeled buffer between maximum starting LTV (70%) and liquidation (90.91% LTV). SALT 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 $25,000 to $100M with a single transparent rate and non-custodial DLC security. SALT serves a broader range starting from $1,000, using custodial.
On the standardized $250,000, 50% LTV, 12-month scenario, SALT costs $21,875 in the first year versus $25,000 at Lygos, a difference of $3,125. SALT 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. That arrangement adds custody-provider and insolvency risk that a script-enforced DLC avoids.
Lygos is the better fit for borrowers who prioritize non-custodial security, want a single transparent rate, and are borrowing $25,000 or more. SALT is the better fit for borrowers who need smaller loans or more flexible access.
Key details to be aware of: SALT: Standard rates vary by starting LTV and term, not loan size. Published one-year APRs are 7.
SALT is cheaper under the stated assumptions. On a $250,000 loan at 50% LTV held for 12 months, Lygos costs $25,000 (10% APR) while SALT costs $21,875 (8.75% APR). That is a $3,125 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 $25,000. SALT's minimum is $1,000. SALT is more accessible for smaller borrowers.
Lygos has no formal margin-call threshold and liquidates automatically at 90% LTV. SALT issues a margin call at 83.33% LTV with a 48-hour response window and liquidates at 90.91% LTV. For a common 50% starting LTV (rather than each lender's maximum), the modeled buffers are 40 points at Lygos and 41 points at SALT.
It depends on your priorities. Lygos (10% APR, non-custodial (DLC), min $25,000) is better for borrowers who prioritize non-custodial security and want a flat transparent rate. SALT (7.49%–10.5% 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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