# Term Finance > Fixed rate lending for everyone Term Finance is a fixed-rate lending protocol. It lets users borrow and lend digital assets at fixed rates set through recurring on-chain auctions. Term Finance is a fixed-rate lending protocol for digital assets. It lets users borrow against collateral and lend at fixed rates for set terms. Borrowers and lenders are matched through recurring on-chain auctions instead of a variable-rate pool. Borrowers submit sealed bids and lenders submit sealed offers, and each auction clears at a single market rate that every participant pays or receives. Collateral stays in non-custodial smart contracts for the loan term, and lenders receive tokens that redeem for principal plus interest at maturity. Borrowers can roll positions into a new term, and liquidation is limited to the amount needed to cure a default. Term Finance Protocol is the flagship, alongside Term Vaults for curated fixed-rate strategies and a wallet analyzer that scores DeFi activity. It is used by borrowers who want a known cost of funding, lenders who want a known return, and DeFi users managing fixed-term positions. - Type: Project - Sector: Finance - Status: Active - Founded: 2023-08-01 - Profile: https://thegrid.id/profiles/term_finance ## Products - [Term Finance Protocol](https://thegrid.id/profiles/term_finance): Term Finance Protocol is a fixed-rate lending protocol that matches borrowers and lenders through recurring sealed-bid auctions. Each auction clears at a single market rate, and collateral stays in non-custodial smart contracts for the loan term. Lenders receive tokens that redeem for principal plus interest at maturity. (Decentralised Borrowing & Lending, Live, Main Product) - [Term Vaults](https://thegrid.id/profiles/term_finance): Term Vaults are curated vaults that lend into fixed-rate Term markets and manage idle funds in the meantime. Curators set operating parameters within on-chain risk limits on maturity, collateral, concentration, and reserves, and vault token holders can veto proposed changes to those limits. (Yield Aggregator, Live) - [Term Finance Wallet Analyzer](https://thegrid.id/profiles/term_finance): Term Finance Wallet Analyzer scores a wallet's DeFi activity and awards Term Points. It reads a wallet's history across major lending protocols and assigns a score and activity badges. (Off-Chain Data APIs and Services, Live) ## Assets - [Term Finance (TERM)](https://thegrid.id/profiles/term_finance): TERM is the utility token of Term Finance Protocol. It is used for governance participation, staking to earn protocol fee revenue, and accessing fee discounts on the platform. Holders can stake their tokens to receive a share of protocol fees while delegating voting power, aligning long-term incentives with the protocol's auction-based fixed-rate lending mechanism that matches borrowers and lenders at market-clearing rates. (Utility) ## Links - [Main](https://www.term.finance) - [Documentation](https://docs.term.finance) - [Blog](https://www.term.finance/blog) - [Media Kit/branding](https://www.term.finance/mediakit) - [Privacy policy](https://docs.term.finance/legal/privacy-policy) - [Terms of Service](https://docs.term.finance/legal/terms-of-use) - [Twitter / X](https://x.com/term_finance) - [Discord](https://discord.com/invite/cFVMQNHRsx) - [Telegram](https://t.me/+Q8nMs4zuM5tmMjAx) - [LinkedIn](https://www.linkedin.com/company/term-labs-inc) - [YouTube](https://www.youtube.com/@TermFinance) - [GitHub](https://github.com/term-finance) - [Twitter / X](https://x.com/term_labs) ## Legal This data is provided under two licensing models. Model 1 - open data. 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