Tessera is a non-custodial lending protocol built for tokenized stocks.
Tessera is a non-custodial lending protocol for tokenized equities, with an autonomous AI agent that watches every loan around the clock and steps in to prevent liquidations — built for a world where stocks trade 24/7 but the market behind them doesn't.
Tokenized stocks (tAAPL, tTSLA, tSPY) trade nights and weekends, but the real stock market is closed.
Price gaps build up overnight while no one can react, and leveraged positions cross the liquidation line in their sleep. Today's lending protocols were built for always-on crypto, not for assets that go dark on a schedule.
The result: borrowers get liquidated through no fault of their own — suffering both a forced loss and a liquidation penalty.
Tessera combines a conservative, market-aware lending vault with The Watcher — an autonomous AI risk agent that monitors every position approximately every 10 seconds.
When a position drifts toward danger, The Watcher automatically repays part of the debt using USDC the user has pre-approved, helping prevent liquidation before it happens.
Protection automatically becomes more conservative during the highest-risk periods:
After-hours trading
Weekends
Earnings events
Prices flow through an oracle-policy contract enforcing:
Staleness checks
Dual-feed deviation guards
Off-hours LTV haircuts
Borrowing power automatically tightens when overnight gap risk is highest.
The Watcher continuously monitors health factors.
Its financial decisions are 100% deterministic:
A rules engine decides whether intervention is required.
The language model only generates human-readable explanations.
The LLM never controls funds.
The agent can only:
Reduce a user's own debt
Use allowances explicitly granted by that user
Users can revoke permissions at any time.
On-chain safety caps enforce:
≤ $10,000 per transaction
≤ $25,000 per day per user
The Watcher publishes an on-chain heartbeat.
A permissionless backstop is built so that, once enabled, anyone can liquidate positions if the agent goes offline.
The protocol never depends on a single service remaining operational.
ERC-4626 USDC lending pool
Tokenized-stock collateral support
Borrow / repay / liquidate functionality
Health factor calculations
Two-level agent spending caps
15% reserve factor
Bad-debt waterfall
Market-closed protections
Heartbeat system
Permissionless backstop support
Oracle policy and risk controls.
Read-only analytics and protocol views.
A production TypeScript agent providing:
Continuous position monitoring
Regime-aware risk protection
Opt-in auto-repay functionality
Enforcement of on-chain safety limits
Complete user experience including:
Lending
Borrowing
Dashboard
Risk analytics
Position management
A public demonstration allowing anyone to watch the AI rescue a real on-chain position in roughly one minute.
The same risk engine is exposed as infrastructure that can be consumed by other AI agents and applications.
Litepaper
Documentation
FAQ
Blog
Roadmap
Security page
Transparency page
Designed specifically for the mismatch between:
24/7 token trading
Traditional market hours
This is the exact failure mode generic lending markets ignore.
The AI is:
Auditable
Rule-based
Bounded by on-chain limits
The LLM never touches money.
We clearly publish:
What exists today
What remains gated for mainnet
Known risks and limitations
Both on-chain and in plain English.
Revenue comes solely from a:
15% reserve factor on earned interest
There are:
No emissions
No governance token
No insider exit liquidity
✅ Stylus vault contracts
✅ Deposits
✅ Borrowing
✅ Repayments
✅ Liquidations
✅ Autonomous AI protection
✅ Auto-repay functionality
✅ Market-aware oracle system
✅ Risk API
Before mainnet launch, the following remain:
Third-party security audit
Licensed institutional price feed
Securities and compliance clearance
Seeded first-loss reserve
Permissionless backstop activation
No real funds are at risk today.
This is a testnet product, and we state that openly throughout the platform.
Arbitrum Stylus (Rust → WASM)
Robinhood Chain (Arbitrum Orbit L2, Chain ID 46630)
Arbitrum Sepolia
TypeScript
Next.js
Tailwind CSS
viem
wagmi
Render
VercelDocumentation
EIP-712 signed standing protection instructions
Collateral-funded protection
Flash-funded protection (works without idle USDC)
Durable multi-region agent infrastructure
Agent failover systems
Multi-model advisory intelligence
Completion of all named mainnet gates
Ritik Pandey
Founder & Full-Stack / Protocol Developer
Build autonomous financial infrastructure for 24/7 tokenized-equity markets.
Tessera aims to become the trusted AI risk layer for tokenized real-world assets, helping users safely access leverage while reducing avoidable liquidations through transparent, deterministic automation.
Built and deployed the complete Tessera stack from concept to working testnet product.
• Developed three Rust / Arbitrum Stylus smart contracts: TesseraVault, PriceGuard, and Lens.
• Built The Watcher, an autonomous TypeScript risk agent that monitors positions and performs deterministic auto-repay within on-chain safety limits.
• Shipped a complete Next.js application with lending, borrowing, portfolio management, risk analytics, and a public Live Drill demonstrating AI-assisted liquidation prevention.
• Created a Risk API and MCP server so external AI agents can consume Tessera's risk engine.
• Wrote and published a litepaper, documentation, FAQ, roadmap, blog, security, and transparency pages.
• Deployed successfully on Robinhood Chain (Arbitrum Orbit L2, Chain ID 46630) and Arbitrum Sepolia.
• Integrated CI/CD across web, agent, and smart contract components.
Not currently raising.
Tessera is founder-built and bootstrapped. The protocol will never launch a token and generates revenue solely through a 15% reserve factor on earned interest. Current focus is completing the required mainnet milestones, including a third-party audit, licensed price feeds, securities and compliance review, a seeded first-loss reserve, and activation of the permissionless backstop.