Where are positions settled? Tenor provides a simple interface to the Morpho protocol, a non-custodial, self-executing protocol that matches lenders and borrowers at fixed interest rates. Tenor smart contracts are opt-in tools to facilitate the auto-renewal of positions according to user set policies.
Can you repay a position before maturity? Yes. Borrowers can always repay their position in full before maturity. Borrowers may also exit their positions prior to maturity at the current market rate subject to sufficient available liquidity.
What happens at maturity? Borrowers can either extend their positions by opting into Tenor's non-custodial auto-renewal features to extend their borrow positions into longer-dated fixed rate maturities, or variable rate markets. To streamline this process, Tenor offers smart contract tools that make it simple for borrowers to manage their positions at maturity.
How does Tenor support institutional players? Tenor provides automation products such as auto-renewal and auto-closing smart contracts. It also offers integrators compliance tools, custom quotes, monitoring, and whitelisting services. If needed, Tenor can offer execution SLAs.
