Where are positions settled?
Tenor provides an interface to the Morpho protocol, a non-custodial, self-executing onchain protocol that matches lenders and borrowers at fixed interest rates.
What happens at maturity?
Before a borrowing position reaches maturity, borrowers can either repay the position in full, manually roll the position to a longer dated maturity or extend it using Tenor's auto-renewal features. Auto-renewal seamlessly rolls positions into new fixed-rate maturities or variable-rate markets, allowing borrowers to maintain their position without interruption and manual intervention.
