Fixed Rates
Fixed Rates
Fixed Rates
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onchain
onchain
onchain
Fixed-rates lending and borrowing, onchain.
Lock rates. Sell yield. Exit anytime.
Fixed-rates lending and borrowing, onchain.
Lock rates. Sell yield. Exit anytime.
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Onchain credit RUNS
on floating rates.
Most markets reprice constantly without defined maturities. That makes borrowing costs unpredictable, turns yield into a moving target, and forces treasuries to operate without visibility.
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Onchain credit RUNS
on floating rates.
Most markets reprice constantly without defined maturities. That makes borrowing costs unpredictable, turns yield into a moving target, and forces treasuries to operate without visibility.
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Onchain credit RUNS
on floating rates.
Most markets reprice constantly without defined maturities. That makes borrowing costs unpredictable, turns yield into a moving target, and forces treasuries to operate without visibility.
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Onchain credit RUNS
on floating rates.
Most markets reprice constantly without defined maturities. That makes borrowing costs unpredictable, turns yield into a moving target, and forces treasuries to operate without visibility.
/ Floating-rate CREdIT
powers liquidity
They adjust with utilization and market conditions.
They keep capital moving, but never commit to an outcome.
/ Floating-rate CREdIT
powers liquidity
Permissionless fixed-rate markets across assets and maturities, powered by coupon tokens.
/ Floating-rate CREdIT
powers liquidity
They adjust with utilization and market conditions.
They keep capital moving, but never commit to an outcome.
/ Floating-rate CREdIT
powers liquidity
Permissionless fixed-rate markets across assets and maturities, powered by coupon tokens.
/ Fixed-rates markets
lock outcomes
Borrowing and earning outcomes are known in advance.
Positions are built around time horizons.
/ Fixed-rates markets
lock outcomes
Borrowing and earning outcomes are known in advance.
Positions are built around time horizons.
/ Fixed-rates markets
lock outcomes
Borrowing and earning outcomes are known in advance. Positions are built around time horizons.
/ Fixed-rates markets
lock outcomes
Borrowing and earning outcomes are known in advance.
Positions are built around time horizons.
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fixed & variable
RATE markets
Fixed and variable rates for lending and borrowing, structured for strategies that need certainty.
/
fixed & variable
RATE markets
Fixed and variable rates for lending and borrowing, structured for strategies that need certainty.
/
fixed & variable
RATE markets
Fixed and variable rates for lending and borrowing, structured for strategies that need certainty.
/
fixed & variable
RATE markets
Fixed and variable rates for lending and borrowing, structured for strategies that need certainty.
Lend
Borrow
/ FIXED VAULTS
Lock in a guaranteed rate until maturity, or provide liquidity to the rate market in Flex Mode. Two modes, one vault.
AVG. APR
5.8%
TERM
30-120d
EXIT
Instant
/ VARIABLE VAULTS
Supply assets and earn floating yield. Rates adjust with market demand - no lockups, no maturity dates
AVG. APR
5.8%
LOCKUP
None
EXIT
Instant
Lend
Borrow
/ FIXED VAULTS
Lock in a guaranteed rate until maturity, or provide liquidity to the rate market in Flex Mode. Two modes, one vault.
AVG. APR
5.8%
TERM
30-120d
EXIT
Instant
/ VARIABLE VAULTS
Supply assets and earn floating yield. Rates adjust with market demand - no lockups, no maturity dates.
AVG. APR
5.8%
LOCKUP
None
EXIT
Instant
Lend
Borrow
/ FIXED VAULTS
Lock in a guaranteed rate until maturity, or provide liquidity to the rate market in Flex Mode. Two modes, one vault.
AVG. APR
5.8%
TERM
30-120d
EXIT
Instant
/ VARIABLE VAULTS
Supply assets and earn floating yield. Rates adjust with market demand - no lockups, no maturity dates.
AVG. APR
5.8%
LOCKUP
None
EXIT
Instant
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Built for
real strategies
Fixed rates unlock positions that floating markets can't support.
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Built for
real strategies
Fixed rates unlock positions that floating markets can't support.
/
Built for
real strategies
Fixed rates unlock positions that floating markets can't support.
FEATURED
FEATURED
/ Cash & Carry
WITH FIXED RATES
Borrow at a fixed rate, deploy into a higher-yielding source. The spread is locked at entry — no rate risk for the duration.
Borrow at a fixed rate, deploy into a higher-yielding source. The spread is locked at entry — no rate risk for the duration.
No repricing / Minimal monitoring / Known outcome.
No repricing / Minimal monitoring / Known outcome.

Delta-Neutral Yield
Hedge directional exposure while earning yield on both legs. Fixed rates make P&L predictable from day one.
Treasury-Grade Planning
Borrow at a fixed cost to fund operations. No rate spikes, no surprises. Plan around known liabilities.
Rate Market LP
Provide liquidity to Fixed Vaults in Flex Mode. Earn from rate market activity without a single maturity lockup.

Delta-Neutral Yield
Hedge directional exposure while earning yield on both legs. Fixed rates make P&L predictable from day one.
Treasury-Grade Planning
Borrow at a fixed cost to fund operations. No rate spikes, no surprises. Plan around known liabilities.
Rate Market LP
Provide liquidity to Fixed Vaults in Flex Mode. Earn from rate market activity without a single maturity lockup.

Delta-Neutral Yield
Hedge directional exposure while earning yield on both legs. Fixed rates make P&L predictable from day one.
Treasury-Grade Planning
Borrow at a fixed cost to fund operations. No rate spikes, no surprises. Plan around known liabilities.
Rate Market LP
Provide liquidity to Fixed Vaults in Flex Mode. Earn from rate market activity without a single maturity lockup.

Predictable Borrowing
Borrowing costs are defined upfront. No repricing when markets move.
Known Outcomes
Yield is set by maturity. You know what you earn and when.
Flexibility Without Lock-In
Fixed rates don’t mean being stuck. Adjust or exit before maturity.
Treasury-Grade Planning
Match assets and liabilities by maturity. Plan cashflows with confidence.
Yield as a Market Component
Yield becomes something you can allocate and adjust over time.

Delta-Neutral Yield
Hedge directional exposure while earning yield on both legs. Fixed rates make P&L predictable from day one.
Treasury-Grade Planning
Borrow at a fixed cost to fund operations. No rate spikes, no surprises. Plan around known liabilities.
Rate Market LP
Provide liquidity to Fixed Vaults in Flex Mode. Earn from rate market activity without a single maturity lockup.
Lock your borrowing cost and capture the spread. Floating lending markets constantly reprice, making carry trades fragile.
Fira’s fixed-rate markets remove this uncertainty. Borrow once, deploy capital, and hold the position to maturity.
Powered By
Borrow cost
4.2%
yield source
7.8%
rate type
Fixed · 90d
RATE EXPOSURE
Hedged
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Cash & Carry
3.6
%
Net Spread · Locked at Entry
Lock your borrowing cost and capture the spread. Floating lending markets constantly reprice, making carry trades fragile.
Lock your borrowing cost and capture the spread. Floating lending markets constantly reprice, making carry trades fragile.
Fira’s fixed-rate markets remove this uncertainty. Borrow once, deploy capital, and hold the position to maturity.
Fira’s fixed-rate markets remove this uncertainty. Borrow once, deploy capital, and hold the position to maturity.
Powered By
Borrow cost
4.2%
4.2%
yield source
7.8%
7.8%
rate type
Fixed · 90d
Fixed · 90d
RATE EXPOSURE
Hedged
Hedged
/
Cash & Carry
3.6
3.6
3.6
%
%
%
Net Spread · Locked at Entry
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audited
SMART CONTRACTS
Fira smart contracts has been audited 6 times by independent security firms as part of the launch process.
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audited
SMART CONTRACTS
Fira smart contracts has been audited 6 times by independent security firms as part of the launch process.
/
audited
SMART CONTRACTS
Fira smart contracts has been audited 6 times by independent security firms as part of the launch process.
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audited
SMART CONTRACTS
Fira smart contracts has been audited 6 times by independent security firms as part of the launch process.
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THE ONCHAIN
YIELD CURVE.
Fira provides the infrastructure for a yield curve and plans to develop this layer further. That curve is usable directly by users, and composable by protocols building vaults, strategies, or structured products.
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THE ONCHAIN
YIELD CURVE.
Fira provides the infrastructure for a yield curve and plans to develop this layer further. That curve is usable directly by users, and composable by protocols building vaults, strategies, or structured products.
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THE ONCHAIN
YIELD CURVE.
Fira provides the infrastructure for a yield curve and plans to develop this layer further. That curve is usable directly by users, and composable by protocols building vaults, strategies, or structured products.
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THE ONCHAIN
YIELD CURVE.
Fira provides the infrastructure for a yield curve and plans to develop this layer further. That curve is usable directly by users, and composable by protocols building vaults, strategies, or structured products.
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WHAT COMES
NEXT
Fira starts with fixed-rate markets on core assets. Next comes deeper liquidity, more maturities, and integrations that turn fixed rates into a base layer for DeFi.
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WHAT COMES
NEXT
Fira starts with fixed-rate markets on core assets. Next comes deeper liquidity, more maturities, and integrations that turn fixed rates into a base layer for DeFi.
/
WHAT COMES
NEXT
Fira starts with fixed-rate markets on core assets. Next comes deeper liquidity, more maturities, and integrations that turn fixed rates into a base layer for DeFi.
0% LOAN - UZR
A live fixed-rate market offering 0% borrowing in an existing $450M onchain market.
0% LOAN - UZR
A live fixed-rate market offering 0% borrowing in an existing $450M onchain market.
0% LOAN - UZR
A live fixed-rate market offering 0% borrowing in an existing $450M onchain market.
0% LOAN - UZR
A live fixed-rate market offering 0% borrowing in an existing $450M onchain market.
MARKET LAUNCH
Permissionless fixed-rate & floating-rate markets across assets and maturities. Lend, Borrow & Trade with predictability.
MARKET LAUNCH
Permissionless fixed-rate & floating-rate markets across assets and maturities. Lend, Borrow & Trade with predictability.
MARKET LAUNCH
Permissionless fixed-rate & floating-rate markets across assets and maturities. Lend, Borrow & Trade with predictability.
MARKET LAUNCH
Permissionless fixed-rate & floating-rate markets across assets and maturities. Lend, Borrow & Trade with predictability.
FIXED-RATE END GAME
A fully onchain credit layer where fixed rates, maturities, and yield curves become native primitives.
FIXED-RATE END GAME
A fully onchain credit layer where fixed rates, maturities, and yield curves become native primitives.
FIXED-RATE END GAME
A fully onchain credit layer where fixed rates, maturities, and yield curves become native primitives.
FIXED-RATE END GAME
A fully onchain credit layer where fixed rates, maturities, and yield curves become native primitives.
0% LOAN - UZR
A live fixed-rate market offering 0% borrowing in an existing $450M onchain market.
MARKET LAUNCH
Permissionless fixed-rate & floating-rate markets across assets and maturities. Lend, Borrow & Trade with predictability.
FIXED-RATE END GAME
A fully onchain credit layer where fixed rates, maturities, and yield curves become native primitives.
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Common
questions
/
Common
questions
What is Fira?
Fira is a lending and borrowing protocol specialized in facilitating permissionless fixed-rate markets onchain.
What is Fira?
Fira is a lending and borrowing protocol specialized in facilitating permissionless fixed-rate markets onchain.
What is Fira?
Fira is a lending and borrowing protocol specialized in facilitating permissionless fixed-rate markets onchain.
Why Fira?
Onchain credit is almost entirely variable-rate, limiting predictability and long-term planning in DeFi. Fira introduces fixed-rate, maturity-based borrowing and lending as a native onchain primitive. Rates are discovered through supply and demand, not set by utilization curves. Positions have defined maturities and predictable outcomes.
Why Fira?
Onchain credit is almost entirely variable-rate, limiting predictability and long-term planning in DeFi. Fira introduces fixed-rate, maturity-based borrowing and lending as a native onchain primitive. Rates are discovered through supply and demand, not set by utilization curves. Positions have defined maturities and predictable outcomes.
Why Fira?
Onchain credit is almost entirely variable-rate, limiting predictability and long-term planning in DeFi. Fira introduces fixed-rate, maturity-based borrowing and lending as a native onchain primitive. Rates are discovered through supply and demand, not set by utilization curves. Positions have defined maturities and predictable outcomes.
What products does Fira offer?
Fira operates two product lines: fixed-rate markets and variable-rate markets. As an infrastructure layer, lenders and borrowers, facilitated by LPs, connect on Fira to offer their services. Fira’s key differentiator is the introduction of fixed-rate lending and borrowing across multiple assets and maturities, variable-rate markets, and dynamic lending with tradable yield.
What products does Fira offer?
Fira operates two product lines: fixed-rate markets and variable-rate markets. As an infrastructure layer, lenders and borrowers, facilitated by LPs, connect on Fira to offer their services. Fira’s key differentiator is the introduction of fixed-rate lending and borrowing across multiple assets and maturities, variable-rate markets, and dynamic lending with tradable yield.
What products does Fira offer?
Fira operates two product lines: fixed-rate markets and variable-rate markets. As an infrastructure layer, lenders and borrowers, facilitated by LPs, connect on Fira to offer their services. Fira’s key differentiator is the introduction of fixed-rate lending and borrowing across multiple assets and maturities, variable-rate markets, and dynamic lending with tradable yield.
Does Fira offer anything other than fixed-rate borrowing and lending?
Yes. Fira includes different product lines: fixed-rate markets (maturity-based, via Bond Tokens), variable-rate markets (utilization-based, similar to Aave or Morpho), and dynamic lending (LP positions that earn swap fees, lending interest, and rehypothecation). Coupon Tokens make yield tradable before maturity.
Does Fira offer anything other than fixed-rate borrowing and lending?
Yes. Fira includes different product lines: fixed-rate markets (maturity-based, via Bond Tokens), variable-rate markets (utilization-based, similar to Aave or Morpho), and dynamic lending (LP positions that earn swap fees, lending interest, and rehypothecation). Coupon Tokens make yield tradable before maturity.
Does Fira offer anything other than fixed-rate borrowing and lending?
Yes. Fira includes different product lines: fixed-rate markets (maturity-based, via Bond Tokens), variable-rate markets (utilization-based, similar to Aave or Morpho), and dynamic lending (LP positions that earn swap fees, lending interest, and rehypothecation). Coupon Tokens make yield tradable before maturity.
How is the security of my assets ensured?
All borrowing is overcollateralized and subject to liquidation if health thresholds are breached. The smart contracts have undergone six independent audits by four firms — Sherlock, Spearbit/Cantina, yAudit, and Hexens. A bug bounty of up to $7.5M via Sherlock incentivizes ongoing security research. Full audit reports are available on docs.fira.money.
How is the security of my assets ensured?
All borrowing is overcollateralized and subject to liquidation if health thresholds are breached. The smart contracts have undergone six independent audits by four firms — Sherlock, Spearbit/Cantina, yAudit, and Hexens. A bug bounty of up to $7.5M via Sherlock incentivizes ongoing security research. Full audit reports are available on docs.fira.money.
How is the security of my assets ensured?
All borrowing is overcollateralized and subject to liquidation if health thresholds are breached. The smart contracts have undergone six independent audits by four firms — Sherlock, Spearbit/Cantina, yAudit, and Hexens. A bug bounty of up to $7.5M via Sherlock incentivizes ongoing security research. Full audit reports are available on docs.fira.money.
See full FAQ
See full FAQ
See full FAQ
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THE FIXED-RATE
layer for defi
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THE FIXED-RATE
layer for defi
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THE FIXED-RATE
layer for defi
Fira brings maturity and predictability onchain, and makes yield liquid in the process.
