Fixed-rate lending protocol Tenor completes seed funding round, led by Variant

The non-custodial fixed-rate lending platform Tenor has announced the completion of its seed round financing, led by Variant with participation from Nascent, as well as ongoing support from Prelude, a crypto exchange, Lattice, Very Early and several angel investors. The amount raised has not yet been disclosed.

Tenor is built on top of Morpho’s fixed-rate lending protocol Midnight and is currently live on the Base network. It will expand to more chains in the future and offer features such as automatic rollover, OTC quotes, and floating interest calculation for pending orders. The platform currently supports crypto asset collateralized lending, with plans to extend services to forex and credit markets.