surge
Surge Credit

Bitcoin-native dollar credit line. Non-custodial. Rates from 6.9% APR.

Public Key

npub1swchzzz3l7g5yyrfcy0hf538s0zhuzg77ahp0ap9utj02fsuvj2s8q0zup

Profile Code

nprofile1qqsg8vt3ppglly2zzp5uz8m56gnc83t7py00wmsh7sj79e84ycwxf9gpzemhxue69uhhxetpwf3kstnwdaejuar0v3shjqg4waehxw309aex2mrp0yhxummnw3ezumn9ws0qxyv3

Publishing to

Author Public Key

npub1swchzzz3l7g5yyrfcy0hf538s0zhuzg77ahp0ap9utj02fsuvj2s8q0zup

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Last Notes

2026-07-17 23:56:29 UTC

Shout out to @nprofile…9mhn
They run an independent directory of bitcoin financial service: lenders, custodians, exchanges, ETFs and verify the facts themselves rather than taking company copy at face value.
Our profile is live and updated. It leads with the thing that actually matters: collateral in segregated taproot vaults, verifiable on-chain. Not commingled in an omnibus wallet.
Directories like this only work if the listings are checked by someone who isn't the listed party. Good to see one that is.
Surge on 21Rates:
https://21rates.com/companies/1137/surge-credit
https://blossom.primal.net/6a12f526f8164f50b14143984db00cd76ab6976cdbcd2fc90927326812ad45a3.png

2026-07-08 01:12:05 UTC

You've seen the app. You've never seen what holds it up.
That's the thing most people miss about surge: it's two layers, and the layer you touch isn't the one that matters.
1️⃣ The app is just glass. surge on iOS and Android, the earn app, and soon third parties launching yield and credit products to their own users — non-custodial, all on the same rails. Interfaces come and go. Anyone can build one.
2️⃣ The protocol is the part that holds. taproot vaults, the DCN, unilateral exit via CSV timelock, non-custodial by construction. No rehypothecation, borrower-controlled collateral, verifiable on-chain. It doesn't bend for any app sitting on top of it.
That's why it's built this way. Swap the app, add ten more, hand the keys to a third party, the custody model, the exit path, the math don't move. No interface can rewrite rules it doesn't own.
Judge the protocol, not the app.

2026-06-26 17:23:43 UTC

Surge protocol — Week 12. 10.52 btc locked in Taproot Vaults.
Steady tick up while the team stays heads-down on audits.
The bigger update this week: App store approvals are done and last week's auth-related changes are live in production.
Protocol layer held during the outage. Application layer is now hardened against the same failure mode. Both layers, working as designed.
Audits continue. Shipping continues.
Don't trust, Verify 🟧
https://blossom.primal.net/375d136d5435d8fb4c0a759fff810187d617d9ba6c58c646b53fb857d0882e1e.png

2026-06-23 17:57:26 UTC

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Most bitcoin lending hides liquidation behind a custodian. DLCs weld it into one oracle, forever. Both work fine until they don't.
This week: the liquidation leaf. A threshold network signs, not a custodian. The oracle can evolve. The auction is permissionless. BTC delivered to the bidder on bitcoin.
Don't trust. Verify. 👇
#naddr1qv…p8pu

2026-06-18 22:06:13 UTC

Surge Protocol — Week 11. 10.24 BTC locked in Taproot Vaults. New all-time high, +29.6% w-o-w.
Last week's dip was an exit. This week's high is new locks. Both are the system working as designed.
The deeper signal from last week: Our app authentication service had a brief outage. The protocol stayed up.
Taproot Vaults sat on-chain, untouched. Spending paths unchanged. Borrower keys still the only key required to sign exit. UTXOs indifferent to whether our login flow was loading.
The two-layer split exists for exactly this reason. Application can go down. Protocol doesn't. Trust the architecture, not the company running it.
Audits continue. Heads-down.
Don't trust, Verify 🟧
https://blossom.primal.net/aaa567880e1eb6226446983a7823deb13572e8534c7e7a27368876ba5ad8484a.png

2026-06-16 17:12:48 UTC

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App auth went down this week. The Bitcoin in our Vaults didn't notice.
Two layers. The Bitcoin layer holds your collateral by script. The app layer is where we work. The first doesn't depend on us. The second is what we fix.
This week's tech tuesday: the repayment leaf. How cooperative spends actually run, why the dcn isn't a custodian, and why your one key signs both the BTC and the USDC. 👇
#naddr1qv…p8pu

2026-06-15 18:58:25 UTC

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Watch the full founders' take on YouTube 👉https://youtu.be/GrR_OUcYttY

2026-06-15 18:58:05 UTC

App authentication went down. Your bitcoin didn't.
The app became unusable. The protocol never blinked. No vaults touched, no funds affected, your BTC stayed in its Taproot Vault the whole time.
That's not luck. It's architecture. The app is just a window. The protocol lives on bitcoin.
Yash and Michael break it all down in our new founders' take: the two-layer design, bring-your-own-key, taproot vaults, BIP-110, and the DCN connecting Bitcoin and Base.
Android is live in the store; iOS is on testflight while we clear review.
An app outage never put a single sat at risk. That's design.
https://blossom.primal.net/abe9eb24b8199bea7a9eb3730ce3f6c2109f094686a15c2c3b952a04f5e6c35b.mp4

2026-06-12 15:34:55 UTC

🚨 App authentication is temporarily down. Your Bitcoin is not. 🚨
We've run into an issue with our app authentication service, the layer that handles email OTP verification and keeps you signed in. We're fixing it now and adding a fallback to make it more resilient.
👉 No funds or protocol functions are affected; this is a front-end issue only.
🟡 What this means: existing users may get signed out, and new sign-ups are paused until this is resolved. The protocol itself is untouched, your BTC is in its Taproot vault exactly where it was, unilateral exit path unchanged.
🟧 Verify it yourself: the earn dashboard at earn.surge.credit is live and running, independent of the app. App fixes have to go through app store review, which is why this takes a little longer to resolve on the front end.
🟢 Your options, no rush:
1️⃣ Use a TestFlight (iOS) / open testing (Android) build, links coming soon
2️⃣ Or wait for the production fix, currently in the normal app store review queue (can take a few days)
We'll post here the moment the production update is live.
⚠️One thing to watch: no need to panic. Refer only to our in-app messages and official social handles. Stay away from any scams.
Don't trust. Verify 🟧

2026-06-11 21:42:39 UTC

Partial Withdrawals are live on Surge 🎉
Until now, pulling Bitcoin collateral meant fully repaying your credit line first, even if your taproot vault held far more than your debt required. that's done.
When your credit line is below 50%, you can now withdraw excess collateral straight to your self-custodial wallet. The vault stays intact: every tapscript spending path and your unilateral exit, untouched.
draw, repay, and now withdraw, on your terms. Full flexibility for Bitcoiners, as far as it gets.
Full walkthrough 👇
https://youtu.be/qA_1x0OVSVc

2026-06-11 17:53:29 UTC

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💯

2026-06-10 21:56:19 UTC

8% ≠ 14%
Every bitcoin lending product sells you one number. The APR. And it's not a lie, the rate is real, and it's usually the biggest single piece of what you pay. But it's almost never the whole thing, and the distance between the headline and the total is the part nobody puts on the homepage.
So let's build the real number. Line by line. Watch it move.
Start low. 8%. The kind of rate the most aggressive products lead with, and to be fair, it's a good number. It's also the floor, what you pay before anything else gets added. Keep it on screen.
8%
1️⃣ Origination first. One to two percent on average, up to three on some sizes. Call it two. And here's what matters: on a revolving line, that fee can hit every draw, not once at the start. So it isn't a setup cost you pay and forget. It's borrow cost. Every time you pull.
8% + 2% = 10%
2️⃣ Repayment next. Some charge you to pay the thing back down, a few tenths of a percent on the way out. Others just won't let you prepay cleanly, which is worse, because now your own flexibility is the penalty. Call it half a point.
8% + 2% + 0.5% = 10.5%
3️⃣ Then the one almost everyone misses: the fee for just being in the loan. Maintenance fee. Platform fee. "Capital charge" if you're talking to the newer crowd. Same mechanic underneath, a recurring annual charge, usually sitting on your borrowed balance, for the position simply existing. Roughly two percent.
8% + 2% + 0.5% + 2% = 12.5%
And we were generous the whole way down. Origination runs to three. The 8% was the headliner tier, borrow less and you often price higher from the start. Add a margin call or a forced repay in a volatile week and there's more. The honest all-in number on much of the market sits closer to 13–14%.
So the rate you were sold was 8%. The cost you actually carry is closer to 14%. Same loan. Same collateral. The headline was real, it was just never the whole number. Independent comparisons keep landing in the same place: fees can push the effective rate fifty percent or more above the sticker.
And none of it is technically hidden. It's all in the docs. It's just scattered five pages, a calculator, a fee schedule while the single cheapest number gets the homepage to itself. That's not an accident. The headline is built to be read. The total is built to be assembled by you, later, if you bother.
So, builder to borrower, here's the wisdom:
Never compare headline APRs. Compare effective cost. The rate plus every fee you'll actually trigger, at your size, across the full life of the loan. And ask any lender one question, what's my all-in cost, per dollar borrowed, per year? If they can't give you one number, that's your answer.
Don't trust, Verify 🟧
https://blossom.primal.net/2d74da04152cda92f4cad3b7323d4c9ef4c779ccce77d763b1d7c1bcd56cf966.png

2026-06-08 22:35:16 UTC

Some of the best surge coverage yet, from the PBJ podcast, Steve lee, DK, and Max, Bay area bitcoiners.
They unwound the inner workings, not just the surface:
1️⃣ Bitcoin-native : btc stays on bitcoin. no wrapping, no bridging, no leaving the chain.
2️⃣ A revolving credit line, not a loan and no kyc. borrow against your BTC without handing over your identity.
3️⃣ Taproot used the way it was designed, not chain spam. the NUMS key (SHA256("SURGE-NUMS")) closes the backdoor taproot otherwise leaves open, provably unspendable internal key, so the only paths are the tapscript ones.
4️⃣ Unilateral exit, the CSV timelock matches the credit line's term, so you can always sweep your own UTXO back without anyone's cooperation.
5️⃣ No riding morpho or existing defi markets. Surge bootstraps its own liquidity. one of its kind, and bitcoin-native to the core.
and they pressed where it matters, DCN trust assumptions, oracles. The open questions. exactly the ones to ask.
Surge starts ~9 min in 👉 https://www.youtube.com/watch?v=we7gHhi9xiY

2026-06-05 21:07:01 UTC

This week at Surge.
We crossed 10 BTC locked in collateral. Every satoshi sits in a Taproot vault the borrower can exit unilaterally. No rehypothecation, no IOU.
1️⃣ Mon: release notes, what shipped
2️⃣ Tue: deep dive on unilateral exit, the Tapscript spending path that lets you reclaim collateral without anyone's permission
3️⃣ Wed: same mechanism, borrower's lens, why unilateral exit is the difference between a credit line and a custodial IOU when things go wrong
4️⃣ Thu: 10 BTC milestone, and a maintenance window to harden the signer set as part of our ongoing audits
Putting the system into maintenance to harden it is the kind of thing you only do when you've got nothing to hide.
Don't trust. Verify🟧

2026-06-05 05:06:59 UTC

Scheduled maintenance: June 5, 08:00–08:30 UTC (30 min).
This release ships security hardening, including remediations from our ongoing security audit.
🟧 Full report to follow.
✅ Your BTC stays in your Taproot vault throughout, unilateral exit unaffected
https://blossom.primal.net/0c2aa1c55aa62af36942a3cb79fa0803a37219c9a5446594fbfce73961624c38.png

2026-06-03 23:00:49 UTC

The hardest question in Bitcoin lending!
Bitcoin is a bearer asset and that one fact should change how you think about every loan you take against it.
Whoever can sign for Bitcoin owns it. No chargeback, no recovery department, no court that reverses a spend. So the moment you post it as collateral and sign it into a lender's custody, ownership has effectively moved. That's not a flaw in any single lender. It's the nature of the asset.
Now layer on the standard terms. Most Bitcoin loans run around 50% LTV, you borrow a dollar against two dollars of BTC. You're over-collateralized by design, which means the asset you've handed into someone else's control is worth materially more than the money you walked away with.
So the question that matters isn't "will they treat me fairly while they're running." Most lenders are legit and will. It's this:
🚨 If they go down, you still have your borrowed dollars, but what happens to the Bitcoin, the part that's worth more than the loan? 🚨
That's the exposure nobody quotes you. Your dollars are already in your pocket. Your collateral, the larger number sits in a custody arrangement that quietly assumes the lender keeps existing. A withdrawal portal doesn't change that: a portal is a permission, and permissions need someone alive to grant them.
A real answer can't live in a terms-of-service doc. It has to live in Bitcoin itself, a spending path on your collateral that returns it to you, and only you, even if the lender and everyone coordinating it is gone. Script as the final authority, not the company's survival.
It's a hard standard, and it's the one we built Surge around. But the question belongs to you wherever you borrow. You gave up custody of the larger asset, make sure you know exactly how you get it back.
Don't trust. Verify. 🟧
https://blossom.primal.net/dda7b53a4966b7960a97a1f5988dd1b6ab076a146776b9d020102eb5675622cf.png

2026-06-02 19:45:31 UTC

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"Non-custodial" got watered down to "we let you withdraw." That's a permission, not a guarantee, it assumes we're still here to grant it.
Surge is built so your Bitcoin comes home even if we don't. Here's the Exit path, the OP_CSV timelock, and why the guarantee lives in Bitcoin script instead of our terms of service.
Don't trust. Verify. 👇
#naddr1qv…d0ww

2026-05-29 01:08:08 UTC

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What we're working on, what's next, and everything between the data points, read the latest in our newsletter →
https://surgecredit.substack.com/p/non-custodial-with-slick-ux

2026-05-29 01:06:43 UTC

Surge Protocol — Week 8.
9.12 BTC locked in Taproot vaults.
No yield bait, no rehypothecation, no press releases dressed up as traction, just quiet, week-over-week growth from holders who actually read the spec.Heads down on audits. Curve speaks for itself.
https://blossom.primal.net/901f19e1154aad703a87fa75184642ea0f2c478f1fa7fd07a5e0379a0a96c76e.png

2026-05-26 22:39:33 UTC

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Taproot isn't a privacy upgrade. It's the most programmable thing bitcoin ever shipped and almost nobody uses it.
@nprofile…h2hy built its whole non-custodial credit stack on it. A key-path backdoor we provably don't have. Three spend paths you can read. An exit enforced by script, not by us.
Don't trust. Verify. 👇
#naddr1qv…l925

2026-05-22 01:16:06 UTC

Surge Protocol · Week 7
9.04 BTC locked → +2.7% WoW
Every sat verifiable on-chain. No custody, no rehypothecation, no trust required. Don't trust. Verify. 📈
https://blossom.primal.net/40a4021009aa9fedf2753a2f33b714e1a348c4b333c3b6c0dc3246899d22cee7.png

2026-05-21 22:55:14 UTC

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Full independent review by @nprofile…j4fc → https://www.bitcoin.diy/reviews/surge-credit

2026-05-21 22:54:01 UTC

Independent review from @nprofile…j4fc is in.
Surge Credit: 7.5/10
What they validated:
◆ Custody model 10/10 — "best in class"
◆ Taproot vault on mainnet, key-path spend mathematically disabled
◆ Unilateral exit: recover your BTC yourself if Surge disappears
◆ Zero rehypothecation, verifiable on-chain
What's still open — and we're on it:
◇ EVM audit (in selection)
◇ DCN signers public in June
◇ No liquidation cascade survived on mainnet yet
Don't trust. Verify. Review in comments. 👇
https://blossom.primal.net/951d527c26ce4d438a608daa75842d08a797f4f5bbb5df13d6bee4f1dee52395.png

2026-05-20 19:02:41 UTC

"Liquidation LTV: 80%." One line on your dashboard. Reads simple. It isn't.
It's three decisions:
1️⃣ The line : industry ~80%, margin calls ~70%.
2️⃣ Your draw LTV : the only dial you hold. 80% line, draw 50% → BTC falls ~37% before you're cut. Draw 70% → ~12% does it.
3️⃣ Full or partial : full closes everything. Partial cures you back to a target. And mind the gap: cure to 75% from an 85% trigger = thin buffer, re-liquidates easily. Cure to 65% = real room. Higher isn't safer. Read both numbers, they differ by platform.
Size to survive a February. Don't trust, verify.
Slides 👇
https://blossom.primal.net/46a1e4f56428dcca6b80069d9c530b3fdc73424ba2d7830b8f5f2b39c6f31a00.png
https://blossom.primal.net/00d2f12f011a31e7f35d9dd01a3049ee451c049c2d5ec7120a469de8501c81b7.png
https://blossom.primal.net/35eb5f9ce51ba37573b627f28a678eee53e4d591000f5b7c50250e3d612870d4.png
https://blossom.primal.net/fe12e453974e93052cfe603e90cd7f18b8e48c7c9bbfaf4f657334aa600349e8.png
https://blossom.primal.net/b330a1c340c7e58d79e0212f74917361a8149f3aaef3c14182a4e02aa8aa0dbc.png
https://blossom.primal.net/12ce76b42d9078cf6cd783cd7e0b88a221bc7fbd04c694900b8d7c271299fe56.png
https://blossom.primal.net/477d5e3137a5fc3a94389484a0ffb320c8b7c4b0cef6a46bf6f3d1231d26fa02.png
https://blossom.primal.net/ea30d0a8e17689f47595c663ca008a6cffaced6df972b6aeb20c304aedbab52d.png

2026-05-20 15:02:24 UTC

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Yes, on the roadmap

2026-05-19 20:12:49 UTC

Three layers in any TSS deployment, and the post-THORChain conversation has been mixing them:
Protocol — Schnorr/BIP340 ≠ ECDSA. The MtA surface that produced TSSHOCK doesn't translate.
Posture — every signer is critical infrastructure. Software-only is insufficient.
Architecture — TSS as one Taproot spending path, not the whole security model.
Don't trust, verify. At every layer.
https://primal.net/surge/the-right-way-to-lose-your-threshold-key

2026-05-14 17:51:28 UTC

The most common question from Bitcoiners borrowing on Surge: where does the capital come from? 🤔
Answer: anyone, permissionlessly. Connect an EVM wallet, deposit USDC on Base, earn yield backed by Bitcoin collateral in Taproot vaults you can verify yourself.
No KYC. No synthetic collateral. No rehypothecation.
Don't trust. Verify.
Full walkthrough of the Earn dashboard in the replies. 💬
https://blossom.primal.net/db822c4cdc1573c93200d77edbbddd9480f1ef11a8783519b4cb5a8f7a9d0504.mp4

2026-05-11 02:39:30 UTC

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Yes

2026-05-08 22:09:22 UTC

Founders' conversation.
Yash and Michael talking through what the last 4 months of private beta taught us, what Vegas felt like from the booth, and where Surge is pointing next.
The strongest signal in Vegas wasn't excitement at the booth. It was Bitcoiners opening our Taproot collateral addresses on block explorers of their choice and verifying for themselves.
That's the whole point.
https://www.youtube.com/watch?v=Hd93aD0UcD0

2026-05-08 18:41:19 UTC

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Try it → https://earn.surge.credit

2026-05-08 18:40:44 UTC

New Earn dashboard is live.
Connect any self-custodial EVM wallet. Supply USDC. Earn yield backed by native Bitcoin in verifiable Taproot vaults: not wrapped, not rehypothecated.
See it all on-chain:
→ Bitcoin Locked
→ BTC Volume Processed
→ Vaults backing every position
Real yield from real borrowing. No mercenary emissions.
Don't trust. Verify.
https://blossom.primal.net/1e179949d95cc5b3398b3845a610c9b441b499d3bc5e231e5cb810817f0d3cf2.png

2026-05-01 21:30:33 UTC

Best week at Bitcoin 2026, Las Vegas.
One thing was loud and clear:
Bitcoiners don’t trust what they can’t verify.
We kept hearing this:
“Other lenders here don’t even explain how the BTC is held.”
That’s the gap.
BlockFi, Celsius — those scars are still real.
When we show exactly how it works, on-chain collateral, clear paths, no black box, the conversation changes instantly.
→ “This is a credit line?”
→ “Starts at 6.9%?”
→ “I can verify this?”
Strong signal.
Back to building. More soon.
https://blossom.primal.net/26b2b7c44278f86745ec7529fc252295ff8d0ee1eb0f2a9fb1c048e2534b2458.jpg

2026-04-29 16:59:16 UTC

Day 3.
Kept hearing the same thing yesterday:
“Most real booth here.”
Not flashy. Just showing how it actually works.
Bitcoiners care about that.
Also had our power users pull up — sharing real usage, bringing friends over. That’s the signal.
Product is getting validated in the open.
Day 3. Let’s go.
https://blossom.primal.net/434dc38bedd8a07f1145a5b7a92aa36dd0bb52aae9805d9839dc27af9c65f737.jpg

2026-04-28 17:18:27 UTC

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ACH, Card coming soon, for vouchers we directly work with the distributors like bitrefill does.
Its most usable stable coin out in the market, USDC.

2026-04-28 17:01:40 UTC

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No-KYC

2026-04-28 17:01:21 UTC

Day 2 at Bitcoin Vegas — nonstop.
“Wait… I can borrow how much I want? And it starts at 6.9%?”
That’s the moment.
Booth’s been packed.
Bitcoiners getting it instantly.
Demos → questions → rethinking everything they use today.
This is what we came for. Let’s go. 🚀
https://blossom.primal.net/f2e1bf513d571281875f5671e3b4ba6880d075a23e9635b55829cd46682a5045.jpg

2026-04-27 16:14:23 UTC

Surge is now in public beta 🎉
After months in private beta, Surge is open for anyone to download and try — a Bitcoin-native dollar credit line built for Bitcoiners.
We’re already 8 BTC in, and users are actively opening credit lines.
It’s credit, not a loan.
Download Surge and try it today.
https://blossom.primal.net/0b0902560abeeb2c921878939e188c367679acd7ed3158b4a5c0fe1b819d7039.mp4

2026-04-24 01:30:09 UTC

Unilateral exit, or it’s not non-custodial.
At Bitcoin 2026, Surge will be speaking on how Bitcoin credit lines can be built with Tapscript: using repayment, liquidation, and time-locked recovery paths directly inside a Taproot tree.
The goal: make user protections script-level guarantees, not policy promises.
📍 Workshop & 101 Area
🗓️ Monday, April 27
⏰ 1:30 PM
🎙️ Yash Belavadi & Michael Borglin
Come join us in Las Vegas.
https://blossom.primal.net/6af0ceacf248f2be1ae107e51c6f7d12162d3d9c1beac2a5eee9443abdfbcf5c.png

2026-04-22 19:15:32 UTC

The Surge founding team will be at Bitcoin 2026 in Las Vegas.
We’re looking forward to meeting fellow Bitcoiners and connecting in person with the community. If you’ll be there, we’d love to meet.
https://blossom.primal.net/504178aad333803446eb212e3253e5d734f79210c3501133c5238c80b942f08c.png

2026-04-20 17:23:08 UTC

Come see what Bitcoin-backed credit should look like ➡️
0 rehypothecation. Full sovereignty. Unilateral exit.
And the ability to verify your Bitcoin at all times.
Meet us at #Bitcoin2026 Las Vegas
🗓️April 27–29
📍Booth 875
https://blossom.primal.net/b6ebe226c81c9b178a83beec7220e3de761fb9c807b0543316108880f9636749.png