Tenor OTC, the bespoke lending arm of Tenor Finance, now accepts AERO as collateral for fixed-rate borrowing on Base. AERO is Aerodrome’s governance and rewards token, and the new support lets holders access capital without selling their positions in the Aerodrome ecosystem. Unlike a conventional DeFi lending pool, Tenor OTC enables borrowers and lenders to negotiate direct, customized agreements. Morpho Midnight handles the underlying OTC (over-the-counter, privately negotiated) mechanics for custom collateral types, loan durations and other terms. The platform launched on July 21, 2026, and has continued expanding its supported collateral. Its features include loan auto-renewal, collateral-on-fill, early exits and gated offers, reflecting a focus on institutional users. Tenor Finance raised $2.5 million in pre-seed funding and partnered with Armitage, the OTC arm of market maker Wintermute, and Clearstar to provide better quotes.