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™

Fixed Rates: The Next Evolution in Onchain Lending
As more of finance moves onchain and stablecoin adoption continues, we believe that the creation of an efficient fixed rate primitive that integrates with existing money markets is necessary.

Read the full announcement: https://blog.tenor.finance/tenor-seed-round

Why Tenor?
🔸 Improved Matching Efficiency
Borrowers and lenders can match directly at known rates onchain, cutting the intrinsic spread of traditional money market protocols.

🔸 Better UX for Borrowers
Tenor removes the pain associated with the interest rate kink of traditional money markets, making borrowing at fixed rates a more compelling UX for borrowers.

🔸 Seamless Integration with Money Markets
Tenor’s fixed rate markets are modular, require no governance, and can be layered on top of money markets.