Borrow against bonds nobody can price.
Lenders read the bond’s own paperwork and bid to fund you. You get it back when you repay, and it keeps paying you the whole time.
You own a bond. Someone else has cash.
Nobody lends against what they cannot price.
So the owner sells a perfectly good bond instead — at whatever a buyer offers, on the day they happen to need the money.
So we never ask.
A price nobody can find is replaced by a number three lenders will stand behind.
Fixed once. Never recalculated. Nothing to liquidate.
They read the document, then bid
2,057 is what you repay. It was agreed once and cannot change — not by a market, not by us, not by them.
Already on Hedera
Three things that have happened.
The lender explained itself before it knew if it had won.
61 seconds
The bid carries the hash of that message. It cannot have been written afterwards to fit.
A loan settled itself with nobody watching.
No keeper, no bot. Hedera closed the loan and paid its own fee to do it.
The issuer froze the lender, and the network could not settle.
The loan held. Nothing was lost, and it completed the moment the freeze lifted.