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Tenor

@tenor

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Tenor
@tenor
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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gmorpho, thanks 🦋
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The Tenor protocol was developed with scalability in mind. The protocol's modular architecture allows the the deployment of fully onchain fixed rate lending order books on top of existing @morpho markets. Learn more here: https://blog.tenor.finance/tenor-seed-round
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The Tenor protocol has an interest rate AMM that reduces the structural spread inherent to onchain variable rate money markets. Learn more here: https://blog.tenor.finance/onchain-interest-rate-amms
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We plan on launching on testnet in June and on mainnet in July!
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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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The Tenor AMM solves this issue by offering the Morpho variable rate to lenders while their position is pending.
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An interest rate AMM that matches lenders and borrowers directly (P2P) is a solution to the structural spreads of money markets. If you want to dive deeper, we've written a short blog about this idea: https://blog.tenor.finance/onchain-interest-rate-amms
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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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👋
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Concentrated liquidity interest rate AMMs are the solution. They enable… → P2P matching: Lending AMMs enable users to lend and borrow at specific interest rates for a set maturity date. This significantly cuts the spread of traditional money markets. → Better UX for borrowers: Users have the ability to borrow at fixed rates, preventing the need to unwind positions due to rapid changes in a market’s utilization.
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Learn more about Tenor’s interest rate AMM: https://blog.tenor.finance/onchain-interest-rate-amms
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@tenor
Variable rate money market 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.
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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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Read the full announcement: https://blog.tenor.finance/tenor-seed-round
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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.
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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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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.
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