# LombardFi: A Reputation-based Liquidity Protocol LombardFi is a permissionless public good under the [Apache-2.0 licensing framework](https://www.apache.org/licenses/LICENSE-2.0). It allows [borrowers](/protocol-design/borrowers.md) of any kind to request a loan by opening an isolated pool with predefined parameters ([Term Sheet](/protocol-design/term-sheet.md)). It aims to be an on-chain over-the-counter (OTC) service that provides a bridge between large institutional players and the general investment public and is governed by the laws of blockchain smart contracts (available in our public repository). Its genesis product is a lending desk, where participants can enter into peer-to-peer lending/borrowing contracts with predefined terms, including assets borrowed, collateral pledged, loan duration, and rates paid for the debt facility. Ultimately, the product gives DeFi users exposure to the rates available on centralized trading platforms and private capital markets, where well-known borrowers (Nexo, GSR, Wintermute) can leverage their brand and balance sheet positions to get better terms for their debt facilities. LombardFi has two types of users: [*Borrowers*](/protocol-design/borrowers.md) and [*Lenders*](/protocol-design/lenders.md). --- # Agent Instructions: Querying This Documentation If you need additional information that is not directly available in this page, you can query the documentation dynamically by asking a question. Perform an HTTP GET request on the current page URL with the `ask` query parameter: ``` GET https://docs.lombard.fi/protocol-design/lombardfi-a-reputation-based-liquidity-protocol.md?ask= ``` The question should be specific, self-contained, and written in natural language. The response will contain a direct answer to the question and relevant excerpts and sources from the documentation. Use this mechanism when the answer is not explicitly present in the current page, you need clarification or additional context, or you want to retrieve related documentation sections.