> For the complete documentation index, see [llms.txt](https://docs.surflending.org/llms.txt). Markdown versions of documentation pages are available by appending `.md` to page URLs; this page is available as [Markdown](https://docs.surflending.org/surf-mainnet-protocol/1.-what-is-surf.md).

# 1. What Is Surf?

Surf is an AMM-style pooled-lending protocol on Cardano that lets you lock ADA or Cardano-native tokens (CNTs) such as SNEK as collateral to borrow ADA or stablecoins (like USDM), while LPs earn yield on their deposits. Pools are *isolated*, so the risk of any token is contained inside its own market. Loans are *perpetual*, so borrowers can repay whenever they like, and lenders can withdraw whenever liquidity is free.