Loans on Astaria do not have a set end date. They end when the borrower chooses to repay or the lender decides to send a loan to recall.
A lender is able to send a borrower's loan to Recall after a set honeymoon period. The honeymoon period is set to 24-hours.
Recall is the process of replacing an original lender with a refinancing lender or impairing the loan and seizing the collateral.
Reminder: There are no oracles in Astaria. Recall acts as the mechanism for impairing or refinancing loans.
If a lender wants to exit their position, the lender initiates a recall using an on chain transaction. Recall opens a new intent for an inclining rate auction. This inclining rate auctions functions the same as a traditional intent from a borrower. The only difference is that a loan's borrowing rate is determined by an auction that begins at 0% APY up to 1000% APY over 24 hours.
If no lender refinances (or the borrower has not repaid the loan) the loan in the recall period the loan is presumed defaulted also called a failed recall. The collateral is now retrievable by the lender through an on chain transaction. Borrowers and lenders can recall at anytime through the course of the loan. A key new design for recall intents is executing them permissionlessly by any party.