Odaily News: Term Labs has launched a fixed-rate lending protocol called Term Finance on Ethereum. The protocol matches borrowers and lenders who agree on a predetermined interest rate. During the auction period (i.e., the loan term), the collateral will be locked in a smart contract. (Decrypted)



Earlier, it was announced that Term Labs has completed a $2.5 million funding round led by Electric Capital, with participation from Circle Ventures, MEXC Ventures, Coinbase Ventures, and others. The new funding will be used to build fixed-rate DeFi products.