Autonomous lending refers to a lending system that operates without intermediaries, such as banks or financial institutions. It leverages smart contracts on blockchain technology to facilitate lending and borrowing directly between users.In autonomous lending, users can deposit their cryptocurrency into a pool, which then becomes available for others to borrow. The terms of the loan, including interest rates and repayment schedules, are predetermined and executed through smart contracts. These contracts automatically enforce the agreed-upon conditions, reducing the need for trust between parties.Borrowers, on the other hand, typically need to provide collateral, often in the form of cryptocurrency, to secure the loan. This minimizes risk for lenders, as the collateral can be seized if the borrower defaults.This system promotes transparency, as all transactions are recorded on the blockchain, and it often lowers costs by eliminating middlemen. Additionally, users retain more control over their assets, fostering a decentralized approach to lending and borrowing.