Tenor

@tenor

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Fixed rates everywhere🦋🎶 👀

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What is the Tenor protocol? Tenor enables the creation of onchain fixed rate lending markets on top of existing @morpho money markets

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We just launched our new documentation website. Dive into the Tenor protocol—learn how lending & borrowing works, plus advanced topics like market curation, protocol architecture, and smart contracts.

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https://warpcast.com/tenor/0xb45f1b35

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Lending markets, rebuilt. Tenor created a Uniswap V4 hook that enables highly efficient, fixed-rate lending & borrowing onchain. Think of it as a next generation matching engine for lending markets.

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What makes the Tenor protocol special? Its interest rate matching mechanism. Tenor’s concentrated interest rate AMM enables: → Fixed rate lending and borrowing → P2P matching which improves rate matching for lenders and borrowers → A better UX for borrowers: fixed-rate borrowing eliminates the need to unwind positions in response to sharp changes in market utilization

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Variable rate money markets are great, but… → Interest rate spreads between borrow and lend rates in these markets frequently range from 20% to 40% of the borrowing rate. → Borrow rates can spike when utilization increases above the kink, hindering the UX for borrowers. Tenor solves these problems by introducing a better interest rate matching mechanism 🔒

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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.

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Interest rate AMMs are the next evolution for onchain lending. They… → Improve matching efficiency vs money markets → Improve the lending and borrowing UX

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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.

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