[Fixed-Rate Lending Protocol IRIS to Launch on SparkLend on November 10] According to a report by The Defiant on November 9th, the fixed-rate lending protocol IRIS is scheduled to launch on November 10th, offering fixed-rate loans based on SparkLend. Borrowers can set their own loan terms. After borrowers submit their collateral, loan amount, term, and acceptable maximum interest rate, bidders will compete to offer a fixed rate, with a margin covering the difference between the fixed offer and the underlying floating borrowing cost. The report points out that if accumulated floating costs erode the margin to a specified level, the margin may be liquidated, the fixed rate will terminate, and the borrower will directly bear the floating rate. Furthermore, borrowers still face the risk of collateral liquidation, and early repayment will not reduce the agreed-upon full-term interest.