Lend

Supply USDC to the pool for shares. Lenders earn half of every loan fee by default and never absorb a default.

Who pays when an agent defaults

1
The agent's sponsor
Its locked shares worth the unpaid principal and fee are burnt. Shares are burnt rounding up, so the share price can only rise.
2
The reserve, for rounding only
If a fully committed sponsor comes up a fraction of a cent short through rounding, the reserve tops the pool up by exactly that much.
3
Lenders: never
No line exists without a sponsor's capital behind it, so no path moves a loss onto lenders. A counter on chain records any uncovered loss; it must stay at zero.

Only USDC that is not lent out can leave. Because every loan is backed by sponsor capital, lender withdrawals stay covered; the lent principal is economically the sponsors'.
Leaving within 7 days of your last deposit leaves 0.5% behind for the lenders who stay. This stops bots from depositing just before a repayment and leaving straight after.
Yield depends on loan demand and can be zero. Nothing about it is guaranteed.
The programs have not had a third-party audit. USDC itself can be frozen by its issuer.