Term Finance v1
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  • Peer-to-pool settlement
  • "Left on the table"
  1. Protocol
  2. Term Auctions
  3. Complete Auction

Settlement

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Last updated 2 years ago

Peer-to-pool settlement

Because properly submitted and require that and be locked at the time each tender is submitted, settlement is straightforward. Collateral tokens belonging to assigned bids remain with the collateral agent, while purchase tokens belonging to assigned offers are transferred from the agent to assigned borrowers. Lenders receive ERC-20 tokens (), which are essentially receipt tokens, that can be burned to claim principal plus interest at maturity.

"Left on the table"

All other tenders not assigned in the auction are said to be "left on the table." Collateral tokens and purchase tokens associated with tenders left on the table are unlocked and returned to their respective wallets.

Term Repo Tokens
bids
offers
collateral tokens
purchase tokens