ManagedPortfoliorepresents a portfolio of BulletLoans. Lenders put funds into the portfolio, the manager uses funds to issue loans to borrowers, and borrowers repay principal and interest back into the portfolio.
ManagedPortfolioissues ERC-20 Liquidity Provider tokens to lenders in proportion to the amount they lend. These tokens represent a lender's share of the funds in the pool, including the interest accumulated from loans repaid by borrowers.
All of the portfolio operations are up to the manager's discretion. The Portfolio Manager makes decisions about issuing new loans, marking them as defaulted, altering portfolio params and so on. Manager also specifies an
ILenderVerifiercontract that is responsible for handling the permissions to join the portfolio (portfolios might be permissionless, but typically are not and only offer entrance to a defined group of lenders).
Portfolio tokens represent lenders' share in the pooled funds. Lenders put funds into the portfolio if they trust the manager is going to abide by a reasonable policy. Funds from the portfolio are only available for withdrawal after the portfolio's close date.
Below are examples of typical flows in TrueFi Capital Markets pools:
Lenderlends funds into the
BulletLoanstoken to the
ManagedPortfolio(portfolio sends funds to the
BulletLoansan owed amount (
BulletLoanswill send funds to the debt owner - in this case the
Lenderwithdraws funds from the
Additional actions that might happen:
Managercan change loan parameters (with a
Borrower's approval if necessary).
Managercan set loan status to
Borrowerdoes not return funds on time (and eventually set loan status to
Resolvedonce the debt is settled).
Managercan change various
BulletLoans is an ERC-721 contract. Each of the tokens represents a single loan. All the loan parameters can be read from LoanMetadata struct. BulletLoans contract enables loan creation, facilitates loan repayment and allows managing the loan's state and parameters.
ManagedPortfolio is an ERC-20 token facilitates funds management and allows loan issuance. Portfolio tokens represent lenders' share in the pooled funds. All of the portfolio operations are up to the managers discretion. Manager makes the decisions about issuing new loans, marking them as defaulted, altering portfolios params and so on. Lenders only lend funds into the portfolio if they trust the manager is going to abide by a reasonable policy. Manager also specifies an ILenderVerifier contract that is responsible for handling the permissions to join the portfolio (portfolios might be permissionless, but typically are not and only offer entrance to a defined group of lenders). Funds from the portfolio are only available for the withdrawal after the final closing date.
Contract that allows easy portfolio configuration and creation. A particular instance of the factory can only be accessed by whitelisted addresses.
Contract holding key system params.
A contract that verifies borrower's consent to change the loan parameters. Manager can freely change the loan parameters in borrower's favour (reduce owned amount, increase time), but needs an explicit, borrower's approval to do the opposite.
A contract that implements simple, universal whitelist.
A contract that implements a unique whitelist for each of the portfolios, which are using this verifier. Managers of particular portfolios have the authority to manage respective whitelists.
A contract that requires lender to provide a signature of a predefined message.