> For the complete documentation index, see [llms.txt](https://casten.gitbook.io/untitled/llms.txt). Markdown versions of documentation pages are available by appending `.md` to page URLs; this page is available as [Markdown](https://casten.gitbook.io/untitled/casten/protocol-ecosystem/junior-tranche-holders.md).

# Junior Tranche Holders

Junior Tranche Holders evaluate Borrowers and supply first-loss capital on their Borrower Pools.

Junior Tranche can achieve higher returns when the Senior Pool leverages them with additional senior tranche capital. The junior tranche usually constitutes of 15-30% of the pool size, depending on the risk profile of the borrower pool. 


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