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

# What is Phase?

Phase aims to be a liquidity platform, allowing users to borrow a rock-solid stablecoin while earning yield at the same time. Using your collateral, even while borrowing CASH, you can earn interest with the following instruments:

* Variety of single exposure DeFi opportunities (such as providing collateral for **Aave** or other lending platforms).
* Create liquidity on bridges such as **Stargate** to capture fees from activity.
* Earn native yield from staked decentralized crypto assets such as **cbETH** and **rETH**.
* Provide liquidity to other Phase projects **(IDEA).**

Learn more [here](/vaults/yield-on-collateral.md).

{% hint style="warning" %}
Before hopping into Phase, please read [the Acknowledgments](/protocol/acknowledgments.md).
{% endhint %}


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