Fira offers two lending paths. Both let you earn yield on your capital — the main difference is whether you want a rate you can count on upfront, or one that moves with the market.
Fixed-rate lending
You deploy capital today and lock in your return. Your yield is determined at the moment you enter the position, not after. It doesn't move with utilization or protocol conditions. The trade-off: your capital is committed until maturity (though you can exit early via the market if needed).
Variable-rate lending
You deposit into a pool and earn a rate that adjusts continuously based on how much of the supplied liquidity is currently borrowed (utilization). No end date — you can withdraw at any time. The trade-off: you won't know your exact return in advance.
Quick comparison
Fixed-rate | Variable-rate | |
Return type | Locked at entry | Fluctuates with utilization |
Duration | Defined maturity | No maturity |
Exit flexibility | Exit early via AMM (at market price) | Withdraw anytime |
Best for | Predictability, committed capital | Flexibility, uncertain time horizon |