💵Quick Start: Lend

Earn a fixed, predictable yield in five steps

Lending on Secured Finance means buying a Zero-Coupon (ZC) bond at a discount — you pay less than face value today, and the position is worth full face value at maturity. The difference is your yield, locked in at execution.

You'll need: a Web3 wallet, assets to lend, and a small amount of the network's native token for gas.

Step 1 — Connect and deposit

1. Open app.secured.finance and click Connect Wallet.

2. Go to the Portfolio tab and click Deposit.

3. Choose the asset and amount you want to lend, then confirm in your wallet.

Step 2 — Choose a market

1. Open the Fixed Income tab (the trading interface).

2. Select the currency and the maturity date. Markets mature quarterly — the last Friday of March, June, September, and December.

3. Check the current yield for that maturity on the order book, or compare maturities on the Stats yield curve.

Step 3 — Place your lend order

1. Select Lend.

2. Pick an order type:

   • Market order — fills immediately at the best available price. A taker fee applies (see Fees).

   • Limit order — you set the price (rate) and wait to be matched. Volume that rests on the book pays no fee; any portion that fills immediately pays the taker fee.

3. Enter the amount, review the implied APR and estimated fee, and click Place Order.

4. Confirm in your wallet.

Step 4 — What happens next

• Filled order → you now hold a ZC bond position, visible in Portfolio → Active Positions. Its value accrues toward face value (100) as maturity approaches.

• Open limit order → it stays on the order book until matched, canceled, or the market matures. Track it under Open Orders.

Step 5 — At maturity (important)

There is no automatic settlement. At maturity your position is automatically rolled into the nearest 3-month market (Auto-Roll — a protocol-wide mechanism that cannot be configured or disabled). If you want your funds back instead, unwind your position manually: Portfolio → select the position → Unwind. You can unwind at any time before or after maturity, subject to market liquidity.

Your three options as maturity approaches:

You want to…	Do this
Keep earning at the new market rate	Nothing — Auto-Roll handles it (a roll fee applies, see Fees)
Exit and withdraw	Unwind, then Withdraw from Portfolio
Move the position elsewhere	Tokenize it as a ZC Token (ERC-20)

Troubleshooting

• Limit order not filling — your rate may be off-market; adjust the price, or use a market order for immediate execution.

• Transaction fails — check that you hold native tokens for gas and have sufficient deposited balance.

• Unwind blocked or partially filled — the order book may lack liquidity at an acceptable price (see Circuit Breaker); wait for liquidity and retry, or place an opposite (borrow) limit order at your acceptable price — filled amounts net against your position.

Next steps

• Managing Your Positions — add, reduce, unwind

• Fixed Maturity & Auto-Roll — how quarterly markets work

• Zero-Coupon Bonds — price ↔ APR mechanics