Last updated
Last updated
The Tenor Protocol is a set of smart contracts designed to facilitate the lending and borrowing of ERC20 tokens at fixed interest rates using a set of fully onchain interest rate order books.
To enhance the protocol's capital efficiency and leverage DeFi's composable nature, Tenor supports the deployment of fixed interest rate markets on top of pre-existing money markets allowing users to opt in to a fixed rate experience. At any time before maturity users can roll their lending or borrowing positions forward to a new fixed rate maturity.