Teller is a DeFi protocol that enables time-based loans for 1-30 days, using any ERC20 or NFT as collateral without margin call liquidations. When a loan is accepted, the collateral is transferred into an isolated escrow vault, and the lending token is transferred to the borrower. Loans do not use a price oracle; borrowers are only liquidated if they don’t repay on time, which helps users save at-risk positions during market volatility. Existing loans can be extended indefinitely. Lenders can create custom loan terms for any collateral token, and supplied funds remain in their wallet, allowing for multiple loan offers with the same capital. If a borrower defaults, lenders have the first right to liquidate the collateral. The protocol's smart contracts are open source, audited, and insured for up to $2.2m by Sherlock.
