Term Finance
Term Finance is a noncustodial fixed-rate lending protocol that uses on-chain auctions to match borrowers and lenders on Ethereum.
What is Term Finance?
Term Finance is a noncustodial fixed-rate collateral lending protocol, inspired by traditional tri-party repo arrangements. It uses unique recurring auctions where borrowers submit sealed bids and lenders submit offers, determining the market-clearing interest rate. Above-rate bidders get loans, while below-rate lenders facilitate loans. Unmatched bids and offers remain. After auctions, borrowers receive loan proceeds, and lenders get ERC-20 tokens for redemption. Smart contracts handle repayments and collateral management. Weekly auctions are held on Ethereum across a variety of terms up to a year out.
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Cream FinanceApp store listings are independently reviewed and written by Alchemy using a combination of inbound submissions, editorial research, public project sources, and third-party directories, including ecosystem data from The Grid under the Open Database License, DefiLlama, DappRadar, Reown, and chain ecosystem pages.
