Borrowing
How to specify your fixed-rate loan terms and secure Solver-backed rate protection.
Defining Your Loan
Borrowing on IRIS Protocol involves creating an Intent. You are not interacting with a static liquidity pool; you are broadcasting your desired terms to a network of Solvers who will compete to offer you the best rate.
Set Your Parameters
On the /borrow page, define the exact parameters of your loan:
- Collateral Asset: The asset you will lock up (e.g., WETH, wstETH, cbBTC).
- Borrow Asset: The asset you wish to receive (e.g., USDC, USDT).
- Borrow Amount: The principal you want a fixed-rate for.
- Duration: The precise length of your loan (e.g., 30 days, 180 days). Unlike AMMs with standardized tenor buckets, you choose the exact timeframe you need.
- Max Acceptable Rate: The absolute highest fixed APY you are willing to accept. Solvers must bid under this rate to win.
Set Venue Preferences (Optional)
You have full control over where your collateral is deployed. If you do not wish to be exposed to specific variable-rate venues (e.g., you prefer Aave over Compound), you can exclude them using the 'Allowed Venues' setting.
If you leave all venues enabled, Solvers can route your collateral wherever they find the best rate — which typically means a more competitive bid for you.
Broadcast the Intent
Once configured, your intent is broadcast off-chain to the solver network. This costs no gas.
Solvers receive your parameters, calculate their risks, and submit competing rate quotes over a ~5 second window. The off-chain RFQ coordinator selects the lowest rate automatically and presents it back to your interface.
Review & Settle (120s Window)
You now have a 120-second window to review the winning fixed-rate quote. If the rate makes financial sense to you, execute the on-chain settlement transaction.
This settlement transaction completely isolates your collateral into a newly deployed, dedicated LoanPod smart contract. The variable loan is taken out, the Solver's bond is locked to support your fixed-rate terms, and the borrowed funds arrive in your wallet.
If you don't like the rate, simply let the quote expire — no gas spent, no commitment made.
Post-Settlement
You now hold a Solver-backed fixed-rate loan. As long as that bond-backed protection remains active, the protocol maintains the fixed terms you accepted at settlement.
If the position later enters fallback, the loan remains on the underlying venue and fixed-rate maintenance ends there. At that point you can close the position based on what was owed during the covered period, rather than continuing under coupon preservation.
From here, you can monitor and manage your position, including adding margin, reviewing your health factor, or triggering an early repayment.
If you want to understand the full mechanics of what happens on-chain during settlement — including the LoanPod isolation model and PositionGuard invariants — see Atomic Intent Settlement & LoanPods.
Last updated Mar 25, 2026
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