# Introduction [Nectra](https://nectra.xyz/) is a decentralized borrowing protocol allowing users to borrow nUSD (Nectra USD) against [Citrea](https://citrea.xyz) BTC (cBTC). The nUSD token is a soft-pegged USD stablecoin, over-collateralized with cBTC deposits. The Bitcoin collateral supports the floor price of the stablecoin through the ability to redeem nUSD for $1 equivalent of cBTC directly. Protocol arbitrage enforces a ceiling on the nUSD price. When creating a loan, termed a "position", users select their preferred annual interest rate. The position's interest rate determines whether it is redeemed against during a redemption, with positions paying a lower interest rate being redeemed first. The protocol implements partial and full liquidations to ensure that nUSD remains over-collateralized. Nectra’s core lending and stablecoin protocol is immutable once deployed and entirely permissionless. To join Nectra's community, follow Nectra on [X](https://x.com/nectraxyz) or join the [Discord](https://discord.com/invite/VwTXxJePSV) server. The code for Nectra core can be found on [GitHub](https://github.com/nectra-xyz/nectra-core). --- # Agent Instructions: Querying This Documentation If you need additional information that is not directly available in this page, you can query the documentation dynamically by asking a question. Perform an HTTP GET request on the current page URL with the `ask` query parameter: ``` GET https://docs.nectra.xyz/introduction.md?ask= ``` The question should be specific, self-contained, and written in natural language. The response will contain a direct answer to the question and relevant excerpts and sources from the documentation. Use this mechanism when the answer is not explicitly present in the current page, you need clarification or additional context, or you want to retrieve related documentation sections.