> For the complete documentation index, see [llms.txt](https://docs.secured.finance/llms.txt). Markdown versions of documentation pages are available by appending `.md` to page URLs; this page is available as [Markdown](https://docs.secured.finance/fixed-rate-lending.md).

# Fixed-Rate Lending

- [Overview](https://docs.secured.finance/fixed-rate-lending/overview.md): Fixed-rate, fixed-term lending and borrowing — fully on-chain
- [Research & Papers](https://docs.secured.finance/fixed-rate-lending/overview/research-and-papers.md): The research foundations of the Fixed-Rate Lending Protocol
- [Getting Started](https://docs.secured.finance/fixed-rate-lending/getting-started.md): Start lending or borrowing in minutes
- [Quick Start: Lend](https://docs.secured.finance/fixed-rate-lending/getting-started/quick-start-lend.md): Earn a fixed, predictable yield in five steps
- [Quick Start: Borrow](https://docs.secured.finance/fixed-rate-lending/getting-started/quick-start-borrow.md): Lock in a fixed borrowing cost in five steps
- [Managing Your Positions](https://docs.secured.finance/fixed-rate-lending/getting-started/managing-positions.md): Monitor, adjust, and exit your lending and borrowing positions
- [Platform Guide](https://docs.secured.finance/fixed-rate-lending/getting-started/platform-guide.md): A tab-by-tab guide to the Secured Finance web app
- [Fixed Income (Trading)](https://docs.secured.finance/fixed-rate-lending/getting-started/platform-guide/trading.md): The order book interface for lending and borrowing
- [Stats](https://docs.secured.finance/fixed-rate-lending/getting-started/platform-guide/markets.md): Yield curves and market data — no wallet required
- [Portfolio](https://docs.secured.finance/fixed-rate-lending/getting-started/platform-guide/portfolio.md): Your assets, collateral, positions, and history in one place
- [Swap (Bridge)](https://docs.secured.finance/fixed-rate-lending/getting-started/platform-guide/bridge.md): Move assets between networks with the in-app Swap, powered by Squid Router (built on Axelar)
- [Points](https://docs.secured.finance/fixed-rate-lending/getting-started/platform-guide/points-and-campaigns.md): Track your Secured Finance Points (SFP) in the app
- [Core Concepts](https://docs.secured.finance/fixed-rate-lending/core-concepts.md): How the Fixed-Rate Lending Protocol works
- [Zero-Coupon Bonds](https://docs.secured.finance/fixed-rate-lending/core-concepts/zero-coupon-bonds.md): The instrument behind every fixed rate — price, discount factor, and APR in one page
- [Order Book & Order Types](https://docs.secured.finance/fixed-rate-lending/core-concepts/order-book.md): How lend and borrow orders meet — fully on-chain
- [Order Life Cycle](https://docs.secured.finance/fixed-rate-lending/core-concepts/order-book/order-life-cycle.md): Every state an order can be in, and how transitions happen
- [Fixed Maturity & Auto-Roll](https://docs.secured.finance/fixed-rate-lending/core-concepts/fixed-maturity-and-auto-roll.md): Quarterly markets, and exactly what happens to your position at maturity
- [Auto-Roll Price Discovery](https://docs.secured.finance/fixed-rate-lending/core-concepts/fixed-maturity-and-auto-roll/auto-roll-price-discovery.md): How the quarterly roll price is determined — fairly, in any liquidity condition
- [Collateral](https://docs.secured.finance/fixed-rate-lending/core-concepts/collateral.md): Accepted assets per network, and how collateral secures every loan
- [ZC Bonds as Collateral](https://docs.secured.finance/fixed-rate-lending/core-concepts/collateral/zc-bonds-as-collateral.md): Use your lending positions as collateral for yield-spread strategies
- [Liquidation](https://docs.secured.finance/fixed-rate-lending/core-concepts/liquidation.md): How under-collateralized positions are handled — the single source of truth
- [Mark to Market](https://docs.secured.finance/fixed-rate-lending/core-concepts/liquidation/mark-to-market.md): How ZC bond positions are valued for P\&L and LTV
- [Liquidation Case Study](https://docs.secured.finance/fixed-rate-lending/core-concepts/liquidation/liquidation-case-study.md): Two full numerical liquidation scenarios
- [Liquidator's Guide](https://docs.secured.finance/fixed-rate-lending/core-concepts/liquidation/liquidators-guide.md): Running liquidations — permissionless, incentivized, automatable
- [Tokenization (ZC Tokens)](https://docs.secured.finance/fixed-rate-lending/core-concepts/tokenization.md): Turn lending positions into transferable ERC-20 ZC Tokens
- [Fees](https://docs.secured.finance/fixed-rate-lending/core-concepts/fees.md): Every fee in the protocol, and how to minimize them
- [Protocol Parameters](https://docs.secured.finance/fixed-rate-lending/protocol-parameters.md): The single source of truth for every protocol number
- [Advanced Topics](https://docs.secured.finance/fixed-rate-lending/advanced-topics.md): Market microstructure and the engineering behind the on-chain order book
- [Itayose: Fair Price Discovery](https://docs.secured.finance/fixed-rate-lending/advanced-topics/itayose.md): The opening auction that sets a fair price for every new market
- [Market Listing & Delisting](https://docs.secured.finance/fixed-rate-lending/advanced-topics/market-listing-and-delisting.md): How assets join and leave the platform in an orderly way
- [Circuit Breaker](https://docs.secured.finance/fixed-rate-lending/advanced-topics/circuit-breaker.md): Per-block price limits that blunt manipulation and flash-loan attacks
- [Base Price Adjustment](https://docs.secured.finance/fixed-rate-lending/advanced-topics/base-price-adjustment.md): Duration-aware minimum collateral requirements
- [Emergency Global Settlement](https://docs.secured.finance/fixed-rate-lending/advanced-topics/emergency-global-settlement.md): The last-resort shutdown that returns user funds
- [Orderbook Deep Dive](https://docs.secured.finance/fixed-rate-lending/advanced-topics/orderbook-deep-dive.md): Why a full on-chain order book is hard — and the three techniques that make ours economical
- [Red-Black Tree](https://docs.secured.finance/fixed-rate-lending/advanced-topics/orderbook-deep-dive/red-black-tree.md): O(log n) order management with bulk unlinking
- [Lazy Evaluation](https://docs.secured.finance/fixed-rate-lending/advanced-topics/orderbook-deep-dive/lazy-evaluation.md): Compute on read, not on write — the protocol's core gas strategy
- [Genesis Value & Compound Factor](https://docs.secured.finance/fixed-rate-lending/advanced-topics/orderbook-deep-dive/genesis-value-and-compound-factor.md): How every position rolls at maturity with a single storage update
- [Orderbook Rotation](https://docs.secured.finance/fixed-rate-lending/advanced-topics/orderbook-deep-dive/orderbook-rotation.md): The quarterly recycling cycle that keeps gas costs bounded
- [APR vs APY](https://docs.secured.finance/fixed-rate-lending/advanced-topics/apr-vs-apy.md): Why the protocol quotes APR, and how to compare rates across venues
- [Contracts & Security](https://docs.secured.finance/fixed-rate-lending/contracts-and-security.md): Deployed addresses, audit reports, and security resources
- [FAQs](https://docs.secured.finance/fixed-rate-lending/faqs.md): Frequently asked questions about the Fixed-Rate Lending Protocol