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What is Tenor?

Tenor is a non-custodial platform offering tools to access Morpho V2 fixed rate markets. Tenor offers a dedicated interface, smart contracts and tools to abstract the complexities of fixed rates for users and integrators.

Features​

  • Efficient Matching: Lenders and borrowers can get matched at specific fixed interest rates using offers for maximum efficiency. Offers create a simple and efficient matching mechanism to enable peer-to-peer transactions between lenders and borrowers, allowing them to lock a fixed rate until maturity.
  • Fixed Rates: Borrowers and lenders benefit from the certainty of known rates for a set duration when borrowing or lending on Tenor. For borrowers, the ability to borrow at fixed rates mitigates the need to unwind positions contrary to money markets where rates update block to block.
  • Automated Actions: Tenor offers custom contracts to auto-renew fixed rate positions at maturity into longer dated fixed rate markets or default back to variable rate markets, mitigating the complexities of managing terms and preventing liquidation at maturity.
  • Advanced Execution: Tenor offers conditional offer execution tools to create offers that execute at specific rates only if certain conditions are met. For example, create borrow limit orders at set rates across multiple markets simultaneously. Once an order fills, the callback will deposit the collateral in the appropriate market.
  • Custom Offers: Broadcast customized fixed-rate offers to borrow against tail-end assets. Connect with vault curators and lending desks or whitelist who can take your offers. Get notified when it fills.
  • Non-custodial: The Tenor platform is non-custodial by design; users interact directly with the Morpho and Tenor smart contracts.

Interface​

The Tenor Interface enables users to interact with the Morpho V2 protocol and Tenor associated smart contracts. The interface offers advanced position monitoring tools, real-time analytics, and customizable notifications.

Users can also interact with the Morpho and Tenor smart contracts directly through the EVM. While Tenor hosts a flagship interface, multiple interfaces enable access to the Tenor and Morpho smart contracts.