Security by design

Much of Helva’s security comes from design, not promises. These properties hold structurally, regardless of who operates the platform. The short version is Security at a glance.

Non-custodial collateral management

Helva never holds the coins. You deposit into your own self-custodial Anvil vault and reserve a slice for the loan. Helva holds the right to convert the reserved amount, as agent for the lender. You can top up or (when healthy) withdraw excess unilaterally, from your own wallet, with no approval from Helva or the lender.

Note

This applies to collateral. Fiat clearing and credit-asset settlement are custodial services performed by Helva — we’re precise about the distinction.

Conversion can never exceed the LoC amount

The Letter of Credit converts only the collateral needed to produce the defined credit amount. Unused collateral is returned to you atomically, in the same transaction. There is no path by which more than the LoC amount is taken.

24/7 liquidation without custodial key risk

Anvil’s design lets liquidation of unhealthy positions happen without anyone holding your coins. Helva’s monitoring triggers liquidations without touching private-key infrastructure for the collateral. The credit asset settles through Helva’s beneficiary contract, and redemptions can only go to Helva’s Safe, enforced by the contract.

Only liquid, battle-tested collateral

Collateral is limited to WETH, wstETH, WBTC, cbBTC. Excluding smaller, riskier assets minimizes contagion risk from exploits elsewhere in the market.

Audited protocol

The underlying Anvil protocol is audited by OpenZeppelin and Trail of Bits. See The Anvil protocol.

Independent of any frontend

Helva’s monitoring and liquidation run directly against the on-chain contracts — independent of Anvil’s frontend — so the service doesn’t depend on a third-party UI.

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Next: read the honest, complete list in Risks & mitigations.