Fixed-Rate Lending Protocol IRIS to Launch on SparkLend Nov 10

Cointime update: Fixed-rate lending protocol IRIS is set to launch on November 10, offering fixed-rate loans built on SparkLend where borrowers set their own loan term. Borrowers submit collateral, loan size, term and a maximum acceptable rate, and quoters compete to offer fixed rates, posting margin to cover the gap between the fixed quote and underlying floating borrowing costs. IRIS flagged three risks: margin liquidation that terminates the fixed rate and leaves borrowers on floating rates, collateral liquidation risk, and no interest reduction for early repayment.