Reference
Glossary
Terms used throughout these docs, defined precisely.
| Term | Definition |
|---|---|
| Listing | A single MarketListing — one borrower's offer, from creation through its terminal state. The atomic unit of the protocol; there is no larger grouping. |
| Market | Either LendrMarket, the contract, or /markets, the page showing every listing — used loosely for both. |
| Position | Informal UI term for a listing where the connected wallet is either the borrower or the lender, while it's active. |
| Open book | The set of all listings currently in status = open — unfunded and waiting for a lender. |
| LTV | Loan-to-value: loanUsd ÷ collateralUsd × 100. Computed client-side for display only — never checked on-chain. |
| APR / bps | Annual percentage rate, expressed in basis points on-chain: 1 bps = 0.01%, so aprBps = 800 is 8% APR. |
| Maturity | The moment now >= startTime + duration becomes true for an active listing — the earliest point claimCollateral can succeed. |
| Allowance | The ERC-20 approved amount a wallet has granted LendrMarket to pull on its behalf — required before createListing, fillListing, and repay. |
| Default | Lendr's term for an unpaid loan past maturity, settled via claimCollateral. Distinct from liquidation — see Risks & FAQ. |