An open Loan Request represents an opportunity for a lender to contribute an amount of ETH and earn interest from any resulting loan.
The specific APR earned by Lenders depends on the time they provided their ETH to the Loan Request. All requests are open for 48h max, with an initial APR that has been determined by the borrower. However, the APR increases incrementally over time, offering increasingly attractive returns to potential Lenders.
APR continues to increase whilst the Loan Request remains open, allowing lenders to wait until they determine that sufficient APR has been offered for them to provide their liquidity to that specific Loan Request.