# 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.


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