Fira is an onchain lending and borrowing protocol that offers both fixed-rate and variable-rate markets on Ethereum. The key difference from most DeFi protocols: you can know exactly what you'll earn or pay before you commit.

If you've used Aave, Compound, or similar protocols, you've seen rates that move constantly — sometimes hourly. That's because those rates are driven by utilization: when more people borrow, rates go up; when fewer borrow, rates come down.

That's fine if you're parking assets short-term. But if you want to plan ahead — lock in a return for six months, or know your borrowing cost before entering a strategy — floating rates make that impossible.

Fira brings two things together in one place:

Fixed-rate markets — Defined rates for defined durations. You choose a maturity (e.g., 3 months, 6 months), and the yield or cost is locked in. No surprises at renewal.

Variable-rate markets — Flexible, no end date. Rates adjust with market conditions. Better suited for short-term positions or users who want to move freely.

Both product types live on the same protocol, with the same underlying security model.