Lygos charges 10% APR with $0 origination fees using non-custodial (dlc). Surge Credit charges 6.9% variable / 9.9% fixed APR with $0 origination fees using collaborative multisig (taproot vault, 3-of-4 signer network). See the full breakdown of rates, thresholds, and custody risk below.
Rates verified 2026-06-09
Surge Credit advertises a lower headline rate at 6.9% variable / 9.9% fixed compared to Lygos's 10%. On a $1M loan held for 12 months, Surge Credit saves $1,000 in total first-year cost (interest plus origination fees). From a custody perspective, Lygos presents lower counterparty risk with its non-custodial (dlc) model.
Total year-1 cost includes both annualized interest and any origination fees charged upfront.
| Loan Size | Lygos APR | Surge Credit APR | Lygos Total Year-1 Cost | Surge Credit Total Year-1 Cost | Savings |
|---|---|---|---|---|---|
| $100,000 | 10% | 9.9% | $10,000 | $9,900 | $100 with Surge Credit |
| $250,000 | 10% | 9.9% | $25,000 | $24,750 | $250 with Surge Credit |
| $500,000 | 10% | 9.9% | $50,000 | $49,500 | $500 with Surge Credit |
| $1M | 10% | 9.9% | $100,000 | $99,000 | $1,000 with Surge Credit |
| $5M | 10% | 9.9% | $500,000 | $495,000 | $5,000 with Surge Credit |
Total year-1 cost includes annualized interest plus origination fees. Lygos: $0 origination fee. Surge Credit rates are variable; the table uses a representative recent rate. Rates sourced from each lender's public rate pages as of 2026-06-09.
Lygos and Surge Credit 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. Surge Credit uses Collaborative multisig (Taproot vault, 3-of-4 signer network). Multiple key holders must coordinate to move funds, reducing single-point-of-failure risk but still requiring trust in the key coordination process.
Lygos triggers margin calls at 70% LTV and liquidates at 85% LTV. Surge Credit has no margin-call mechanism: positions become liquidatable automatically the moment LTV crosses 90%, with no warning threshold or response window.
| Threshold | Lygos | Surge Credit |
|---|---|---|
| Max Starting LTV | 70% | 50% |
| Margin Call | 70% LTV | None |
| Margin Call Window | Threshold-based | None — automated liquidation |
| Liquidation | 85% LTV | 90% LTV |
Lygos: 15.0 percentage point buffer between starting LTV (70%) and liquidation (85%). Surge Credit: 40.0 percentage point buffer between starting LTV (50%) and liquidation (90%). Surge Credit provides a wider safety margin.
The choice between Lygos and Surge Credit 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. Surge Credit serves borrowers of any size with no minimum, using collaborative multisig (taproot vault, 3-of-4 signer network).
On a $250,000 loan, Surge Credit costs $24,750 in the first year versus $25,000 at Lygos, a difference of $250. Surge Credit 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. Surge Credit uses collaborative multisig (taproot vault, 3-of-4 signer network). In a platform insolvency scenario, Lygos borrowers' collateral is protected by the Bitcoin protocol, while Surge Credit 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. Surge Credit is the better fit for borrowers who need smaller loans or more flexible access.
Key details to be aware of: Surge Credit: Revolving BTC-backed USDC credit line on Base — launched 2026, early-stage. Variable rate from 6.
Surge Credit is cheaper. On a $500,000 loan held for 12 months, Lygos costs $50,000 (10% APR) while Surge Credit costs $49,500 (9.9% APR). That is a $500 difference in the first year.
Lygos uses non-custodial (dlc). Surge Credit uses collaborative multisig (taproot vault, 3-of-4 signer network). 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. Surge Credit has no minimum. Surge Credit is more accessible for smaller borrowers.
Lygos issues a margin call at 70% LTV (threshold-based, no fixed window) and liquidates at 85% LTV. Surge Credit has no margin call — positions are liquidated automatically the moment LTV crosses 90%. Starting from a 50% LTV, Lygos provides a 35-point buffer before liquidation, while Surge Credit provides a 40-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. Surge Credit (6.9% variable / 9.9% fixed APR, collaborative multisig (taproot vault, 3-of-4 signer network), no minimum) is better for borrowers who value collaborative multisig (taproot vault, 3-of-4 signer network) and need smaller loan access. Use the rate table and cost comparison above to model your specific scenario.
See why borrowers choose Lygos over Surge Credit for Bitcoin-backed liquidity without custody risk.