> For the complete documentation index, see [llms.txt](https://debit.teller.org/llms.txt). Markdown versions of documentation pages are available by appending `.md` to page URLs; this page is available as [Markdown](https://debit.teller.org/how-debit-works/markets-verification-and-asset-classes.md). # Markets, verification, and asset classes Beneath the pools sits the protocol's market layer, an open order book where lenders and borrowers transact under terms set by a market owner. When a market is created, its owner configures the payment cycle, the default window before a missed payment counts as default, how long a loan request stays open before it expires, and a market fee, and declares the market's asset class and jurisdiction. A market can optionally require identity verification of its lenders, its borrowers, or both, so the same protocol can host fully permissionless, crypto-collateralized markets alongside markets that need verified participants. The asset-class framework reaches well beyond crypto collateral, spanning consumer credit, auto, student, and business lending categories, which is what lets the protocol extend toward real-world credit over time. --- # Agent Instructions This documentation is published with GitBook. GitBook is the documentation platform designed so that both humans and AI agents can read, navigate, and reason over technical content effectively. Learn more at gitbook.com. ## 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, and the optional `goal` query parameter: ``` GET https://debit.teller.org/how-debit-works/markets-verification-and-asset-classes.md?ask=&goal= ``` `ask` is the immediate question: it should be specific, self-contained, and written in natural language. `goal` is optional and describes the broader end goal you are ultimately trying to accomplish on behalf of the user. GitBook uses it to tailor the answer towards what is most useful for that goal. 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.