Lygos charges 10% APR with $0 origination fees using non-custodial (dlc). Strike charges 7.49%–10.5% APR with $0 origination fees using custodial (proof-of-reserves for 50+ btc). 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 Strike's 7.49%–10.5%. On a $1M loan held for 12 months, Strike saves $5,000 in total first-year cost (interest plus origination fees). From a custody perspective, Lygos presents lower counterparty risk with its non-custodial (dlc) model.
Strike offers tiered rates that decrease with larger loan amounts, while Lygos charges a flat rate regardless of loan size. Total year-1 cost includes both annualized interest and any origination fees charged upfront.
| Loan Size | Lygos APR | Strike APR | Lygos Total Year-1 Cost | Strike Total Year-1 Cost | Savings |
|---|---|---|---|---|---|
| $100,000 | 10% | 10.5% | $10,000 | $10,500 | $500 with Lygos |
| $250,000 | 10% | 9.5% | $25,000 | $23,750 | $1,250 with Strike |
| $500,000 | 10% | 9.5% | $50,000 | $47,500 | $2,500 with Strike |
| $1M | 10% | 9.5% | $100,000 | $95,000 | $5,000 with Strike |
| $5M | 10% | 7.49% | $500,000 | $374,500 | $125,500 with Strike |
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 Strike 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. Strike uses Custodial (proof-of-reserves for 50+ BTC). Your Bitcoin is held by Strike 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. Strike triggers margin calls at 70% LTV and liquidates at 85% LTV. Strike gives borrowers 72 hours to respond to a margin call. Lygos uses threshold-based triggers without a fixed response window.
| Threshold | Lygos | Strike |
|---|---|---|
| Max Starting LTV | 50% | 50% |
| Margin Call | 70% LTV | 70% LTV |
| Margin Call Window | Threshold-based | 72 hours |
| Liquidation | 85% LTV | 85% LTV |
Lygos: 35.0 percentage point buffer between starting LTV (50%) and liquidation (85%). Strike: 35.0 percentage point buffer between starting LTV (50%) and liquidation (85%). Both lenders provide the same safety margin.
The choice between Lygos and Strike 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. Strike serves a broader range starting from $10,000, using custodial (proof-of-reserves for 50+ btc).
On a $250,000 loan, Strike costs $23,750 in the first year versus $25,000 at Lygos, a difference of $1,250. Strike 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. Strike uses custodial (proof-of-reserves for 50+ btc). In a platform insolvency scenario, Lygos borrowers' collateral is protected by the Bitcoin protocol, while Strike 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. Strike is the better fit for borrowers who are borrowing $10,000 or more and prefer this platform's specific features.
Key details to be aware of: Strike: 0.79% fee if repaying with BTC collateral, 0.
Strike is cheaper. On a $500,000 loan held for 12 months, Lygos costs $50,000 (10% APR) while Strike costs $47,500 (9.5% APR). That is a $2,500 difference in the first year.
Lygos uses non-custodial (dlc). Strike uses custodial (proof-of-reserves for 50+ btc). 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. Strike's minimum is $10,000. Strike is more accessible for smaller borrowers.
Lygos issues a margin call at 70% LTV (threshold-based, no fixed window) and liquidates at 85% LTV. Strike issues a margin call at 70% LTV with a 72-hour response window and liquidates at 85% LTV. Starting from a 50% LTV, Lygos provides a 35-point buffer before liquidation, while Strike provides a 35-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. Strike (7.49%–10.5% APR, custodial (proof-of-reserves for 50+ btc), min $10,000) is better for borrowers who value custodial (proof-of-reserves for 50+ btc) and prefer this platform's lending structure. Use the rate table and cost comparison above to model your specific scenario.
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