Bids & Offers

Offers may be submitted on either side of the order book, as offers to lend or bids to borrow.

Offers are based upon relative dates, and take the form of a continuous curve defined by discrete points.

For example, take the following offer: [(1 hr, 2%), (2 months, 4%), (6 months, 6%), (1 year, 7%)]

In the image above, a lender created an offer according to the points shown. If a borrower then wanted to borrow for 4 months, they would pay 5% if matched with this lender today. If the borrower picked the same lender a month from now, for the same 4 month duration, the borrower would pay the same 5% rate assuming the lender had not yet updated their offer.