Lenders are primarily exposed to the assets they lend, which should be riskier than the collateral provided by the borrower. A lender holding bTokens representing an asset can temporarily be unable to redeem his bTokens for the underlying asset when the utilization rate reaches 100%. This may present a risk to the user who does not consider this case when designing a lending strategy. Liquidation failures due to a network event or extreme price volatility may, in a rare instance, lead to lender loss of funds. Suppose liquidators cannot sufficiently repay a borrower’s debt or the collateral provided by a borrower loses its peg. In that case, a lender may not be able to redeem their originally deposited assets wholly.