> For the complete documentation index, see [llms.txt](https://zoltao.gitbook.io/zoltao/llms.txt). Markdown versions of documentation pages are available by appending `.md` to page URLs; this page is available as [Markdown](https://zoltao.gitbook.io/zoltao/zoltao-documentation.md).

# ZolTAO Documentation

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ZolTAO is a decentralized borrowing protocol that allows you to draw interest-free loans against Ether used as collateral. Loans are paid out in dCNY (a CNY pegged stablecoin) and need to maintain a minimum collateral ratio of 110%.

In addition to the collateral, the loans are secured by a Stability Pool containing dCNY which is deposited by fellow borrowers collectively acting as guarantors of last resort. Learn more about these mechanisms in our documentation.

ZolTAO as a protocol is non-custodial, immutable, and governance-free.