# Loan Terms

Loan terms are published by Strategists, and may be accompanied by a `deadline`

after which they are no longer available.

Loan terms provided by strategists for borrowers are defined by the following:

**Amount**: The loan amount, denominated in the ERC20 token used by the Vault.**Duration**: The loan duration in seconds.**Interest rate**: The interest rate of the loan. All rates on the Astaria protocol are in simple interest and non-compounding. To convert a standard annualized simple interest rate to an Astaria-compatible interest per second value, divide by $31536000$ (seconds per year) and multiply by $10^{18}$.**Example:**$10\%$ interest per year is $10\times\frac{10^{16}}{365 days}$ .**Liquidation initial ask**: The requested starting price of the Dutch auction if the collateral is sent to liquidation.Should the NFT go into liquidation, the initial price of the auction will be set to this value.

**Note**that this set is as a starting point for a Dutch auction listed on**Seaport**, and the price will decrease over the liquidation period. This figure should also be specified in $10^{18}$ format.