"We believe Term Labs has the potential to bring a much-needed solution to the market with its decentralized lending protocol. Term's unique auction model originates loans at scale without slippage, bid-offer spread or other hidden transaction costs seen in other variable and fixed rate lending protocols."

https://www.prnewswire.com/news-releases/term-labs-inc-raises-2-5-million-in-seed-round-to-build-safer-crypto-lending-for-institutions-301757186.html