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Tessera

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What we're building, how it works, and what we're learning — written plainly.

June 14, 2026 · announcement

Introducing Tessera: the safest place to borrow against tokenized stocks

Tokenized stocks trade 24/7, but the market behind them doesn't — so positions gap overnight and people get liquidated in their sleep. Tessera is a lending protocol with an autonomous AI risk layer built to head that off. Here's what we're building, why it matters now, and exactly what's live on testnet today.

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June 11, 2026 · engineering

How the Watcher Works: An Autonomous Risk Agent With a Deterministic Core

A walkthrough of Tessera's autonomous risk agent — the deterministic core that decides whether to move money, the strict boundary that keeps the language model out of those decisions, the per-block monitoring loop, opt-in auto-repay bounded by on-chain caps, and a heartbeat-gated backstop. Including the honest limits.

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June 8, 2026 · tokenized stocks

Why 24/7 Tokenized Stocks Gap — and Liquidate People in Their Sleep

Tokenized stocks trade around the clock, but the real market behind them only reprices in trading hours. That mismatch creates overnight and weekend price gaps that wreck naively designed loans. Here is why it happens, and how conservative loan limits plus a continuous AI risk layer address it.

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