> ## Documentation Index
> Fetch the complete documentation index at: https://docs.iris.credit/llms.txt
> Use this file to discover all available pages before exploring further.

# How IRIS protects you

> How IRIS protects borrowers while still relying on underlying venues.

Getting fixed borrowing terms should not mean handing a solver broad control over your position. Four things keep that from happening.

## Every loan gets its own account

Settlement opens a separate account, a **pod**, for each loan. Your collateral and debt live there rather than in a shared borrower pool, so a stressed position elsewhere has nothing of yours to reach.

## Settlement is atomic

Opening a position happens in one flow. If that flow cannot complete, it fails rather than leaving a broken half-open loan.

## The solver posts capital

A solver stands behind the terms it quoted, with a bond that absorbs ordinary movement in venue borrowing costs before it reaches you. See [What backs your fixed rate](/home/user-guide/solver-backing).

## The code has been reviewed independently

IRIS completed an independent security review with Hexens in July 2026, covering the IRIS core protocol code. Hexens reported no major severity vulnerabilities. The remaining issues were fixed or acknowledged by the development team and verified in the final report.

[Read the Hexens security review report](https://drive.google.com/file/d/16GnpqSUbVk8-weMpSWnuYFz3-LwdZihy/view)

## What is still yours to watch

* Collateral price moves and the [venue's liquidation rules](/home/user-guide/liquidations)
* Your [maturity date and grace period](/home/user-guide/maturity-and-overdue)
* The rare case where [solver backing fails](/home/user-guide/solver-backing#if-the-backing-does-fail)