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Offer requests

An offer request is a non-binding, offchain message that a borrower sends through the Tenor interface to one or more organizations, asking for lend offers on a position. The request appears in the organization's inbox, where authorized members can reject it or respond with an onchain buy (lend) offer from one of the organization's wallets or vaults.

A request specifies only the loan token, amount, and collateral asset. LLTV, oracle, term, and rate are set by the responding lender.

Handling a request​

From the inbox, you have three options for each incoming request:

  • Publish a quote: respond with an onchain buy (lend) offer from one of the organization's wallets or vaults, setting LLTV, oracle, term, and rate. The offer is linked to the originating request, so the borrower sees it as a response in their inbox.
  • Reject: dismiss the request from the inbox.
  • Leave it: take no action. Requests that fall outside the organization's mandate can be ignored.

Only publishing a quote is an onchain action; rejecting and leaving are both offchain.

After you quote​

Your offer is live onchain from the moment you publish it. The borrower may have requested quotes from several organizations:

  • If the borrower takes your offer, the position settles onchain through Morpho.
  • If the borrower takes a different lender's offer, yours remains live onchain and can be cancelled or left available for other counterparties.

For the end-to-end flow from the borrower's side, see Request offers.