how it works
Spend from what you hold. Keep holding it.
Gether is a card that spends against the stocks, crypto and cash you hold, without selling them.
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the four steps
How does Gether work?
You deposit, each asset counts for a share of its value, you tap, and nothing is sold. Below that, what happens when prices fall.
- 01
Deposit what you hold.
What you deposit arrives in one account, is valued, and is locked as collateral in the same step. You can unlock and withdraw what is not needed to cover what you have drawn, and unlocking is one action.
- 02
See what each asset counts for.
Every locked asset is valued, then takes a haircut. It counts for a share of its value rather than all of it. The shares, added up, are your spending power. The account shows the share for each asset before you deposit it. Today the rail backs USDC, and other assets are counted as the rail adds them.
- 03
Tap.
Gether checks the charge against your spending power and the required level, then approves or declines it. An approved charge is drawn against your collateral, and your drawn balance rises by that amount. Drawn balances have to be repaid.
- 04
Nothing is sold.
Your positions stay in the market with the exposure you chose. Selling is what creates a taxable gain, and spending against your holdings does not sell them. The one case in which a position is sold is described below.
one word to know
What is a haircut?
A haircut is the share of an asset's value held back before it counts toward your spending power. Cash takes a small one because it does not move. A single stock takes a large one because it moves the most. The part held back is the cushion. A haircut is not a fee, and nothing is taken from you.
What a haircut is, at lengthwhen prices fall
What happens when prices fall?
Your spending power is derived from what your locked positions are worth now. When they fall, it falls, and it can fall below what you have already drawn.
- The warning
- As the cushion thins the account says so. Nothing is declined yet, and the cushion is thin. Repaying part of the balance or depositing more of what you hold restores it.
- The decline
- At the required level, new charges are declined.
- The sale
- Collateral can be sold to cover what has been drawn, at market prices and on the market's timing. A sale can happen without notice. It realises whatever gain or loss the position carries at that moment and may have tax consequences.
questions
Questions, answered.
Do I have to sell my assets to spend them?
No. Spending draws against the value of what you have locked, after a per-asset haircut. You keep the position and repay the drawn balance over time.
What stops me from spending more than my holdings are worth?
Your locked collateral has to stay above a required level relative to what you have drawn. A charge that would take it below that level is declined. You restore headroom by repaying part of the drawn balance or by depositing more of what you hold.
What can back my spending power?
Stocks, crypto and cash held as a dollar stablecoin. Each takes its own haircut, and what each counts for is shown in your account before you deposit it. Today the rail backs USDC, and other assets are counted as the rail adds them.
What does it cost?
One plan costs nothing. Drawn balances have to be repaid. The disclosure figure for carry, and your own rate, are shown in your account before your first draw.
Who is Gether for?
People and companies who hold positions they would rather keep than sell to pay for things. Gether is built for four classes of holding: stablecoins, major crypto, stocks with treasuries and funds held as tokens, and Hyperliquid account balances. Gether is in a waitlist phase. Join the waitlist and we will email you when access opens.