Obs. 01
MLKY
A lending protocol for graded collectibles
DeFi · Solana
2025 — present
In-house product
A lending platform that lets collectors borrow against professionally graded trading cards. Ermitage designed and built all of it: the on-chain protocol holding the collateral, the valuation and risk services behind it, and the products borrowers and lenders use. It runs today as an invite-only beta.
- 01Single-team ownership from the on-chain protocol to the interface, designed as one architecture
- 02A valuation service that prices assets with no continuous market, and withholds credit when the data behind a price degrades
- 03Protocol-enforced custody: collateral cannot be pledged twice, under either its digital or its physical identity
- 04Autonomous default resolution backed by a reserve fund, requiring no operator intervention
Rust · Anchor · Solana · TypeScript · Node.js · PostgreSQL · Redis · Next.js · Docker
Architecture — Protocol · Pricing · Product