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

# Flex Protocol

Flex Protocol is live on PulseChain. Flex is a decentralized borrowing protocol that allows you to draw interest-free loans against $HEX used as collateral. Loans are paid out in $HEXDC (a USD pegged stablecoin) and need to maintain a minimum collateral ratio of 110%.

In addition to the collateral, the loans are secured by a Stability Pool containing $HEXDC and by other borrowers collectively acting as guarantors of last resort. Learn more about these mechanisms in our documentation.

Flex as a protocol is non-custodial, immutable, and governance-free.

If you still have questions after browsing this documentation, please join our [Telegram](https://t.me/POWERCITYio).

Flex Protocol is a part of the POWERCITY Ecosystem. Learn more about the ecosystem and its other protocols [here](https://docs.powercity.io/ecosystem/).


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