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. See the full breakdown of rates, thresholds, and custody risk below.
Rates verified 2026-06-09
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 $10,000 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% | 10% | $25,000 | $25,000 | Even |
| $500,000 | 10% | 10% | $50,000 | $50,000 | Even |
| $1M | 10% | 9% | $100,000 | $90,000 | $10,000 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 2026-06-09.
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. 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 | 70% | 50% |
| Margin Call | 70% LTV | 70% LTV |
| Margin Call Window | Threshold-based | 72 hours |
| Liquidation | 85% LTV | 85% LTV |
Lygos: 15.0 percentage point buffer between starting LTV (70%) and liquidation (85%). Strike: 35.0 percentage point buffer between starting LTV (50%) and liquidation (85%). Strike provides a wider 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.
At $250,000, both lenders have comparable first-year costs: Lygos at $25,000 and Strike at $25,000. The difference is marginal, so the decision turns on custody architecture, liquidation terms, and platform features rather than raw cost.
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. 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: Monthly-payment interest rates shown (10.5% = 11.
The costs are nearly identical. Lygos totals $50,000 and Strike totals $50,000 on a $500,000 loan over 12 months. Other factors like custody model and liquidation terms may be more important in this case.
Lygos uses non-custodial (dlc). Strike 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. 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, min $10,000) is better for borrowers who value custodial and prefer this platform's lending structure. Use the rate table and cost comparison above to model your specific scenario.
See why borrowers choose Lygos over Strike for Bitcoin-backed liquidity without custody risk.