Themes and portfolio borrowing are live on Mast

Two more features from the Mast roadmap are now live: Themes, for starting a portfolio from a ready-made allocation, and Borrow, for borrowing USDG against eligible Mast portfolio shares.

They give you two new ways to use the app. Start with a mix you can make your own, or use an existing portfolio as collateral for a loan.

Start with a theme

Building a portfolio from scratch means choosing every asset and setting every weight. Themes gives you a starting point, with the holdings and percentages visible before you create anything.

The first release includes three mixes.

AI & cloud combines NVIDIA at 40%, Microsoft at 30% and Alphabet at 30%. It brings together chip design and the platforms building and running AI services. It is concentrated in technology, and these companies also earn revenue outside AI.

Big tech starts with equal 20% weights in Apple, Microsoft, Alphabet, NVIDIA and Meta. Equal weights make the allocation easy to follow; they do not make the companies equally risky.

Treasuries & silver combines 80% SGOV with 20% SLV for short-term U.S. Treasury and silver exposure. Silver can move sharply, and both holdings carry token issuer and market risk.

Choose a theme, review the mix and change the weights if you want. You then create your own portfolio and invest with USDG through the existing builder. Updating the Themes catalogue does not change a portfolio you have already created.

Borrow USDG against your portfolio

Borrow launches with two eligible collateral types: Defensive shares, or mDEF, and Balanced shares, or mBAL. Each has its own USDG lending market, with initial liquidity now supplied.

Add eligible shares from your wallet as collateral, then borrow available USDG. Your shares remain exposed to their portfolio holdings while they secure the loan. Repay the USDG and accrued interest to release the collateral. You can also make partial repayments or withdraw shares when the remaining collateral is sufficient.

The page shows the variable borrowing rate, available market liquidity and, after connecting, your collateral, debt and borrowing capacity. Borrowing positions also appear in My positions.

Shares staked in Boost must be unstaked before they can be used as collateral. The same shares cannot earn Boost rewards and secure a loan at the same time. Lenders can supply USDG to either market through Lend; lending interest depends on borrowing activity.

The same Mast flow

Both features use the familiar centered Mast layout. Themes has a selector, a clear breakdown of the chosen allocation and one action to open the builder. Borrow uses the same terminal style as Lend, with Add shares, Borrow, Repay and Withdraw visible together on mobile. Further explanations sit in expandable sections below the controls.

Before you use them

Themes use the existing portfolio fee of 0.35% annually, plus creation, trading and network costs. The portfolios hold tokens that track stocks or ETFs; those tokens do not give you direct ownership of the underlying securities.

Borrowing adds debt and liquidation risk. Interest increases what you owe, and falling collateral value can lead to some or all of your shares being liquidated at a discount. Available borrowing is limited by market liquidity. The new borrowing contracts and portfolio oracles have not received an independent audit.

Regional restrictions apply to new investments and borrowing. Existing-position repayments and eligible withdrawals remain accessible. Investments and lending can lose money.

Explore Themes or open Borrow.