Markets - Rhizome Documentation

A Rhizome market is defined by five immutable parameters:

Parameter	Meaning
Loan token	The asset lenders supply and borrowers receive
Collateral token	The asset borrowers post as security
Oracle	The contract that prices collateral in loan-token terms
Interest rate model (IRM)	The contract that determines the borrow rate
LLTV	The threshold at which liquidation becomes possible

The market ID is derived from the encoded parameters:

marketId = keccak256(abi.encode(loanToken, collateralToken, oracle, irm, lltv))

Changing any parameter produces a different market. Existing market parameters cannot be edited after creation.

Market creation

Anyone can call createMarket, but the chosen IRM and LLTV must first be enabled in the core. Permissionless creation means a market’s existence is not an endorsement of its tokens, oracle, liquidity, or parameters.

Initial markets

The canonical deployment manifest records four initial markets using RIF or WRBTC as collateral and USDRIF or USDT0 as the loan asset. RIF markets use a 50% LLTV; WRBTC markets use a 77% LLTV. See Contract Addresses for the manifest and verification rules.

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