Lenders

Purchasing Mortonn securities is economically similar to lending the target asset. Since Mortonn securities cannot be redeemed before maturity, they may trade at a discount before maturity, especially in the case of borrowed target assets. This means that the value of the bond Mor (denominated in the target asset) will tend to appreciate over time. This is similar to the interest received by trading lenders in other protocols.

To make users more familiar with this, the application can provide an interface that emphasizes the market value of their Mor funds. For example, if a user spends $100 to purchase 103 LEXUS dollars, the interface will display their current value as $100, with this number gradually increasing until it reaches $103 at maturity.

However, please note that the value of the fixed token may temporarily decrease relative to the target asset. This poses some user interface challenges—users earning "interest" on Mortonn may be surprised to see their portfolio value decrease (even though it inevitably rises with the corresponding interest rate, and lenders can receive the full value by simply holding the fixed bond until maturity).