Qoda Protocol is a DeFi lending/borrowing protocol built on Moonbeam Network with several key features:

• On-Chain Orderbook For Lending/Borrowing
• Isolated Collateral-Tier vs Market-Tier Assets
• Hybrid Overcollateralized/Undercollateralized Borrowing
• Fixed Interest Rate, Fixed Maturity Loans With Early Exit
• Repayment Redemption Ratio (RRR).

To address the Global Collateral Problem, Qoda has the concept of two tiers of assets, Collateral-Tier Assets and Market-Tier Assets. Assets that are enabled for collateral are distinctly segregated from assets that are enabled for lending/borrowing markets. The list of assets enabled for collateral is highly restrictive. Typically only low-risk, high caliber assets (e.g. stablecoin, BTC, ETH, etc) are supported as collateral assets. Meanwhile, the list of assets for which a lending/borrowing market can be spun up can be much more permissively (perhaps in future iterations, even 100% permissionlessly).

To address the Price Discovery Problem, Qoda implements an on-chain orderbook of fixed interest rate, fixed maturity borrow/lend orders. The current market rate for the APR on loans is determined by supply and demand of market participants themselves. This is the purest mechanism for price discovery of current interest rates. Moreover, Qoda's qToken feature allows lenders (and borrowers) the flexibility to exit early from their loans. Even though Qoda loans have fixed maturities, users are not locked in for the full period.