Intents are loan agreement proposals that a lender in our orbit may (or may not) choose to fill.
Intents in the feed have been created by users looking for a loan of some ERC-20 for their NFT or other ERC-20 collateral. You can fill these loans to earn interest and rewards.
Intents are live for 24 hours, with their interest rate rising every hour.
The interest rate will increase every hour until a lender decides to accept the loan terms, or the 24 hour period ends and the intent expires. If you have the necessary funds to fill a loan, keep an eye on the feed to fill at an attractive interest rate.
If a lender accepts accept, the loan will execute automatically. Once live for 24 hours, a lender can hold a recall auction.
In a recall, you submit an intent for your live loan hoping for another lender to take over the debt. If no other user accepts the recall intent, you can claim the borrower’s collateral.