# The Gavel

> Oracle-free, auction-based BTC-collateralised lending on Arbitrum One, and the
> credit term structure derived from its settled auctions. Rates are discovered by
> competitive auction and settled on-chain — no price oracle is used at any point.

This site is operated by Aletheia Analytics SASU, which publishes the data product.
The Gavel Protocol itself is permissionless, open-source (MIT) and ownerless:
Aletheia does not operate, control or guarantee it.

## Benchmark

- [Auction-Settled Credit Rate (ASCR)](https://www.thegavel.io/methodology/ascr): the permanent, citable methodology — definition, fitting method, revision policy, limitations. Free to cite with attribution. This URL does not move.

## Data

- [The Bitcoin Yield Curve](https://www.thegavel.io/yield-curve/bitcoin): ASCR-BTC — live term structure across tenors on Arbitrum One, auction-derived, no oracle.
- [Bitcoin lending rates](https://www.thegavel.io/rates/bitcoin-lending): what credit costs across auction-discovered, derivatives and traditional benchmarks. A record of rates, not a ranking.
- [The Bitcoin Credit Stack](https://www.bitcoincreditstack.com): cross-venue Bitcoin credit data — 162 venues, their criteria, the rate surface and the indicator set. Published by the same operator as a separate property; The Gavel Protocol appears there as one venue among the rest.
- [Gavel protocol indicators](https://www.thegavel.io/data/gavel/indicators): the indicator set specific to the protocol.

## Learn

- [What is the Bitcoin yield curve?](https://www.thegavel.io/learn/what-is-the-bitcoin-yield-curve): A yield curve is the price of time: what credit costs at each maturity. Bitcoin never had one, because its lending markets had no fixed terms. Now it does.

## Indicators

The indicator set moved to The Bitcoin Credit Stack, where each indicator has its own page with the reading, the computation time and the payload's own caveats: https://www.bitcoincreditstack.com/indicators

The Gavel protocol's own indicator set stays here: https://www.thegavel.io/data/gavel/indicators

## Machine access

- [REST API](https://api.thegavel.io/v1): free tier, no key required for public endpoints.
- [API reference](https://www.thegavel.io/api): endpoints, parameters, tiers.
- [MCP server](https://www.thegavel.io/mcp): connect an AI agent directly to the data over the Model Context Protocol (https://mcp.thegavel.io/mcp). Anonymous tier, no key. Ask your assistant what it costs to borrow against Bitcoin and it can look it up.
- [Agent card](https://www.thegavel.io/.well-known/agent-card.json): A2A self-description of the MCP surface — skills, transports and the entity behind them.
- [ERC-8004 registration](https://www.thegavel.io/.well-known/agent-registration.json): the on-chain identity record and the services it points at.

## Testnet

- [Testnet API](https://api-testnet.thegavel.io/v1): the same endpoints against Arbitrum Sepolia, where the book is deeper and the mature shape of a response can be seen. Testnet figures are not market observations, and the testnet deployment runs a different contract build from mainnet.

## Protocol

- [Source](https://github.com/JamieFrame/The-Gavel-Protocol): MIT, authored by Jamie Frame, ownerless.
- [Protocol site](https://www.thegavelprotocol.org/): what the protocol is and how it works.

## Roadmap

- Ethereum (WETH): not yet accepted as collateral by the protocol. No curve, and no page, until the market makes one.

## About

- [About Gavel](https://www.thegavel.io/about): how it works, and the three-layer structure.
- [Legal notices](https://www.thegavel.io/legal/mentions-legales): Aletheia Analytics SASU, SIREN 107 152 662, Paris.

Informational purposes only — not financial advice, not a recommendation, not an offer.