> For the complete documentation index, see [llms.txt](https://docs.usegimbal.app/llms.txt). Markdown versions of documentation pages are available by appending `.md` to page URLs; this page is available as [Markdown](https://docs.usegimbal.app/guides/explorer.md). # Reading the Explorer How to read the Explorer, the public record of every loan, and the Telemetry, oracle, order book and governance readouts published beside it. Open `/platform/explorer` and you are in the Explorer. No sign-in, no wallet. Every loan Gimbal has written is there, and every event on every loan points at its on-chain transaction. Here the transparency commitments stop being a promise and become something a reader checks. ## The header Four readouts sit at the top: total originated with the loan count, outstanding principal with the active count, participants (lenders and borrowers), and bad debt beside the liquidation count. ## The loan registry "All loans" lists every loan, filterable by status: active, refinancing, liquidating, repaid, settled or defaulted. Each row shows the borrower's address as it appears on-chain, the collateral, the principal, the blended APR, the health factor, the number of slices, the maturity and the status. Select a row for the full record: * collateral, as token units and as shares (via the ERC-8056 multiplier), * the origination oracle price beside today's, * principal, blended APR, interest accrued so far, term and maturity, * health factor, session, and the closed-market health factor after the haircut, * **Syndicate**: every slice with its lender address, principal, APR and flags (in-kind, no-closed, idle), * **Flight log**: the loan's events in order, from origination through top-ups, partial repayments, rollover auctions and liquidation, each linked to Blockscout. ## Telemetry Where the registry shows one loan, Telemetry shows the book: the risk readouts. * LTV distribution across active loans. * Concentration by token, and the sum exposed to the issuer of the Stock Tokens. The "Concentration by token" panel draws each token's outstanding principal against its exposure cap. * The bad debt ledger, which should stay at zero. * Each liquidation, with its realised auction price next to the oracle reading of the moment. * Rollover outcomes: the rate each one cleared at and how long it took. ## Oracles Per token: the live Chainlink price and session, `updatedAt` with staleness measured against the bound, the `uiMultiplier()` reading, the `oraclePaused()` flag, the sequencer's uptime, and whatever market pause applies, together with the reason for it. ## Book Open requests and standing offers, mirrored from the relayer; the whole set can be exported. ## Governance Every `PolicyBoard` proposal and execution: the parameter, the value it replaces and the new one, the rationale, the moment the timelock started and the moment the change was applied. The "In force" panel shows the live parameters: terms, origination fee, interest share, refinance fee, minimum interest period, grace window, auction start and floor, penalty, refinance cap, the chain and the `TermDesk` address. ## Under the hood A Next.js front-end sits over the public indexer. Both are open source. Nothing on the page comes from a private database: chain events and signed messages are the only source of every figure, so a second indexer and a second explorer, run by anyone, show identical numbers. ## What it is for Trust in a lending market goes exactly as far as an outsider can verify. A lender about to post an offer reads the liquidation record first. A borrower sees what rates other borrowers really paid. Anyone can compare the parameters in force with the ones that were announced. The full list of commitments is in [What anyone can check](/transparency/what-you-can-check.md). --- # Agent Instructions This documentation is published with GitBook. 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