Additional Market Details

Below the Add Liquidity/Trade Debt card you will find additional information about the debt market. You may have to scroll down to see this information, highlighted in the below image.

Under the Debt Details section, find the following fields:

• Loan Term: Debt on Covenant is perpetual, not fixed. For more information, see the litepaper and whitepaper.

• Rate: The rate on Covenant is set by the market, so it's floating, not fixed.

• Liquidation Type: Covenant can support multiple liquidation types. While it can support LTV-based, mark-to-market liquidations, of the variety you might find on AAVE/Compound/etc., it can also support non-mark-to-market liquidations, in which a borrower is liquidated based on their total debt outstanding, as opposed to their mark-to-market LTV.

Finally, further down, find Collateral Details, which lists the collateral types and amounts locked in the respective lending market.