Ethereum

When market demand is low, spreads in onchain money markets widen dramatically.

Aave’s USDC market today:
→ Lend Rate: 2.65%
→ Borrow Rate: 4.45%

That’s a 1.80% spread.

If we want to onboard the masses, we’ll need better quoting mechanisms.

Interest rate AMMs are the next evolution for onchain lending. They…

→ Improve matching efficiency vs money markets
→ Improve the lending and borrowing UX

We’re thrilled to announce that we’ve raised a $2.5M Seed Round led by cherry.xyz, with the participation of @cbventures and @latticefund!

This milestone will accelerate the development of Tenor, a noncustodial, self-executing fixed rate lending protocol allowing for permissionless market creation and efficient matching of lenders and borrowers.

Supporting exceptional founders working to advance crypto & create more economic freedom for the world.

https://ventures.coinbase.com

Fixed Rate Infrastructure for the Onchain Economy. Soon™