Jan 19, 2026
Full documentation, whitepaper, six audit reports, and every contract address, all public before the first market opens. Every number verifiable. Every risk disclosed.
Today we're publishing the full Fira documentation and the whitepaper. Together, they lay out how fixed-rate credit works onchain: what it is, why it matters, and how it's built under the hood.
We wanted everything out in the open before the first markets go live. Here's what you'll find.
The documentation
The documentation is now at docs.fira.money. It's the single reference for anyone interacting with the protocol, whether you're borrowing, lending, providing liquidity, or integrating.
It starts with the protocol overview: what Fira is and the gap it fills. The short version: DeFi lending sits at $64 billion today, and over 99% of it runs on floating rates with no maturities. Fira introduces fixed rates with explicit maturities, which changes a lot about how you can plan around credit onchain.
From there, the product pages walk through each role step by step. What you do, what you get, what the risks are. We wrote them without assuming DeFi experience. If you know what a loan is, you'll follow.
On security: six independent audits by four firms (Sherlock, Spearbit via Cantina, Hexens, yAudit) between November 2025 and March 2026. $500,000 bug bounty via Sherlock. Full reports are linked. All contracts are open-source and verifiable on Ethereum.
The risk framework is probably the section worth spending the most time on. It covers each risk type (interest rate, liquidation, bad debt, collateral, liquidity, smart contract) with its mechanics, mitigants, and residual exposure. Fixed rates reduce uncertainty, but they don't eliminate risk. We're upfront about what remains.
Every deployed contract address is listed and verifiable on-chain.
The whitepaper
The whitepaper goes deeper. This is where the math lives.
It covers how maturities and zero-coupon bond mechanics create continuous rate discovery onchain. How the interest rate model works for floating-rate markets. How rehypothecation turns idle reserves into additional yield. How liquidations maintain solvency. And how curated vaults aggregate liquidity across maturities for passive depositors.
If you want to verify the formulas, audit the logic, or build on top of Fira, start here. If you're more interested in using the protocol than dissecting it, the documentation has everything you need.
Why we're publishing before launch
The first fixed-rate markets aren't live yet. That's deliberate.
Fixed-rate credit brings concepts to DeFi that most users haven't encountered onchain. Maturities, zero-coupon mechanics, rate discovery across a term structure. Familiar in traditional finance, but new in this context. We think people should have time to read, understand, and form their own view before putting capital to work.
Every number in these documents is verifiable. Every risk is disclosed. Read them, poke holes, ask questions. That's what they're for.
Links
Documentation: docs.fira.money
Whitepaper: https://docs.fira.money/resources/whitepaper
Contracts: docs.fira.money/contracts
Audits: docs.fira.money/security
Twitter: @fira_lend
