Maturity

A tenor refers to the amount of time between the inception of a financial contract, and that contract's maturity. For example, a loan with a three-month tenor executed on May 5th, 2021 would mature three months later on August 5th, 2021. But on June 5th, 2021, we would still say that this loan had a three-month tenor even though it would be only two months away from maturity.

There can be many different maturities of which fCash markets can be created but with the help of governance active tenors are chosen. Active tenor refers to the maturities of which an active fCash market is available.

Active Maturities

The actual maturities of the active liquidity pools are calculated as offsets from a reference time. The lengths of the offsets corresponding to the tenors.

The current block time does not necessarily correspond to the reference time. This means that the length of time until a liquidity pool's maturity won't necessarily match that liquidity pool's tenor. For example, if the reference time is March 1st and the current time is March 15th, the three month maturity will still be June 1st even though June 1st is less than three months away from the current time.