Fira offers both. Your choice comes down to one question: do you want predictability or flexibility?
Side-by-side comparison
Fixed-Rate | Variable-Rate | |
Your yield / cost | Known upfront, locked in at entry | Changes in real time |
Duration | Defined maturity (e.g., 3 months, 6 months) | No end date |
Ideal for | Planning ahead, locking in a return or cost | Flexibility, free entry and exit |
Main risk | Exiting early may not preserve your rate | Rate can rise (for borrowers) or fall (for lenders) |
Liquidity | Secondary market exit via AMM (price may vary) | Redeem or repay anytime at current rate |
Which should you choose?
Choose fixed-rate if:
You want certainty — you'd rather know your return now than watch it shift
You're running a structured strategy with a defined timeline
You're borrowing and want to eliminate rate risk over a specific period
Choose variable-rate if:
You want to enter and exit freely without being tied to a maturity
You're comfortable with rate fluctuations
You're testing the protocol before committing to a longer position
Where to go next
Depending on what you want to do:
I want to earn → How lending works on Fira
I want to borrow → How borrowing works on Fira
I want to provide liquidity → What does it mean to be an LP on Fira?
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