# Unified Borrowing System

**One Collateral liquidity layer Across the Meow Ecosystem**

Meow Finance’s **Unified Borrowing System**, powered by **pawUSDC**, enables users to borrow against any yield-bearing position within the Meow ecosystem — including **NFT Time-Lock Vaults**, **Flex Vaults**, **AI Yield Aggregator**, and more.

## **Key Features**

* **Borrow Against Any Position**\
  Use LP tokens, vault receipts, or Liquid NFTs from Meow Finance as collateral. Borrow instantly against your yield-generating positions, unlocking additional layer of capital.
* **Backed by pawUSDC — a Unified USDC Layer**\
  All borrowing draws liquidity from a single, protocol-owned **pawUSDC pool** — a DeFi-native, LST of USDC. This ensures deep liquidity, sustainable returns for lenders, and maximized capital efficiency.
* **Composable Leverage & Utility**\
  Borrowed funds can be reused within Meow’s products or external protocols. Strategies like looping, stacking yields, or auto-compounding can all be built on top.
* **Designed for pawUSDC**\
  pawUSDC earn interest, liquidation fees, and protocol yield sourced from vaults across the entire Monad ecosystem. No need to chase pools; pawUSDC aggregates everything into one yield-bearing token.

## **How It Works**

1. **Deposit** into any supported LP, vault, or yield strategy on Meow Finance.
2. **Receive** a vault token or Liquid NFT representing your position.
3. **Borrow USDC** against it instantly via the Unified Borrowing System.

Built for flexibility, powered by composability — Meow Finance’s borrowing layer is designed to unlock liquidity across every corner of our ecosystem.


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