Project Stages on 8lends: Open, Funded, Repaid, Not Funded
From an Open pool to a Repaid loan, each 8lends stage decides exactly where your USDC sits — and Not Funded means deposits bounce straight back to your wallet.
Every project on 8lends goes through several stages reflecting its current status. The main ones are: Open (accepting investments), Funded (the pool is filled, the loan is issued, interest is accruing), Repaid (the loan is fully repaid), Cancelled (the funding target was not reached, deposits were returned). The status is visible on the project card and in your personal account. Once a stage reaches its maximum funding target, it automatically moves to the Pre-Funded stage, where either the Admin or the borrower must change its status. If the stage reaches only the minimum funding target before closing, the Admin changes the status manually.
Main Project Stages
Open — open for investment
The project is active and accepting investments. Investors can invest from 100 USDC. At this stage, all parameters are visible: credit rating, rate, term, collateral type, LTV, pool funding progress.
Funded — funded
The pool has reached its target amount. Funds have been transferred to the borrower, and interest accrual has started. The loan terms are locked in the smart contract and no longer change. From this point on, you cannot invest in the project directly — you can only buy someone else's position on the Secondary Market.
Repaid — repaid
The borrower has fully repaid the loan with interest. Investors have received back their principal and all interest payments. The project has been completed successfully.
Cancelled — the funding target was not reached
The project did not reach its funding target within the set deadline. The smart contract automatically returns investors' deposits to their wallets. No losses — the funds are simply returned.
Summary Table of Stages
| Stage | What it means | What the investor can do |
|---|---|---|
| Open | Accepting investments | Invest from 100 USDC |
| Funded | Loan issued, payments ongoing | Receive interest, sell the position on the Secondary Market |
| Repaid | Loan repaid | Nothing — the project is complete, funds returned |
| Not Funded | Funding failed | Withdraw the automatically returned deposit |
Project Life Cycle
The typical path of a successful project:
Open → pool is being filled → Funded → monthly interest payments throughout the term → principal repayment → Repaid
If the project does not reach its target amount:
Open → funding deadline expired → Not Funded → deposits automatically returned
What Happens to the Money at Each Stage
| Stage | Where the investor's funds are |
|---|---|
| Open (you have invested) | In the smart contract, locked to your address |
| Funded | Transferred to the borrower; your claim is locked in the contract |
| Repaid | Returned to you (principal + interest) in the smart contract, available for claim |
| Not Funded | Automatically returned to your wallet |
Stages in Case of Loan Problems
In addition to the main stages, a project can move into a delinquency or default state:
- Delinquency — the borrower is delaying a payment, but default has not yet been declared (up to 60 days). Maclear AG is conducting recovery
- Default — the delinquency has reached 60 days. Collateral realization or Buyback is initiated
For more details on default scenarios
Frequently Asked Questions
Where do I see my project's status? In your personal account on 8lends — each of your investments displays its current stage. The status is also visible on the project card. All status changes reflect the actual state of the smart contract on the Base blockchain, which can be verified on basescan.org.
What should I do if a project moves to Not Funded? Nothing special — the smart contract automatically returns your deposit to the wallet you invested from. You can use these funds to invest in other projects.
Can I invest in a project at the Funded stage? Directly — no, the pool is already closed. But you can buy another investor's position via the Secondary Market, if someone has listed it for sale. For more details
How long does a project stay in the Open stage? It depends on the size of the project and investor interest. Small projects can be filled in days, large ones in weeks. Each project has a set funding deadline; if the target is not reached within that time, the project moves to Not Funded.
What does it mean if a project stays in the Open stage for a long time without being filled? It means the pool has not yet reached its target amount. If the funding deadline expires without the target being reached, the deposits will be returned automatically (Not Funded). A long funding period does not mean there is a problem with the project — it depends on the overall activity of investors on the platform.
What happens after the Repaid stage? The project is complete. All funds (principal + interest) have been returned to investors and are available for withdrawal via claim. Completed projects remain in the history of your personal account.
Is there a stage at which I can lose money? Risk arises only in the event of borrower default (after 60 days of delinquency at the Funded stage). In that case, collateral realization or Buyback is activated. At the Open and Not Funded stages, the investor's funds are safe — they are either locked in the contract or returned. For more details on protection
See also:
Risk disclosure: investments on 8lends involve risk, including the possible loss of principal. Successfully progressing through the stages depends on the borrower fulfilling their obligations and is not guaranteed. Past performance does not guarantee future results. 8lends is a platform operated by CLEARCHAIN CORP, registered with FINTRAC (Canada) as a Money Services Business. Maclear AG (Switzerland), a member of PolyReg SRO under the supervision of FINMA, acts as the Collateral Agent. Regulatory framework as of September 2026.