Term | Definition |
---|---|
Amortized | A type of repayment schedule that involves equal payment each period. |
Asset (or Funding Asset) | An ERC20 token that the borrower is borrowing and repaying in. |
Balloon (or Bullet) | A type of repayment schedule that involves interest only payment each period until the last period where both interest and principal are repaid. |
Default | Occurs when a Borrower fails to make a payment on a loan, even after the grace period. |
Delinquency | Occurs when a Borrower fails to make a payment on a loan by the specified due date. |
Governor | The entity responsible for managing protocol parameters. |
Loan Term | The conditions, such as number of payments and interest rate, that are specified in a loan agreement between a Borrower and the Lenders. |
Pool | The contract which the Borrower can specify the loan terms and obtain financing from Lenders. |
Repayment Type | A condition under the loan term which specifies the proportion of the loan to be repaid in each term. |
Term | Definition |
---|---|
maxLimit |
Max amount of the asset that is allowed to be borrowed, in lending asset decimals. |
interestApr |
Annual interest rate of the loan, in 18 decimals. |
lateFeeApr |
Annual interest rate of the loan, in addition to |
earlyRepaymentFee |
Fees charges on repayments before the due date, in 18 decimals. |
paymentPeriod |
Length of time between repayment, in seconds. The first repayment will be a single |
loanTenureInPeriods |
Expected number of periods to repay the loan. |
gracePeriod |
Time since a payment period where late interest is not charged, in seconds. |
principalBalance |
Amount of principal balance, in lending asset decimals. |
interestBalance |
Amount of interest balance, in lending asset decimals. |
totalPrincipalRepaid |
Cumulative sum of repayment towards principal, in lending asset decimals. |
totalInterestRepaid |
Cumulative sum of repayment towards interest, in lending asset decimals. |
totalEarlyFeePaid |
Cumulative sum of early repayment fees, in lending asset decimals. |
additionalRepayment |
Additional repayments made on top of all principal and interest, in lending asset decimals. |
lateInterestAccrued |
Cumulative sum of late interest, in lending asset decimals. |
interestAccruedAsOf |
Timestamp of the last time interest was accrued and updated. |
lastFullPaymentTime |
Timestamp of the last time full payment was made, ie when borrower is not falling behind of payments. |
minPaymentPerPeriod |
Minimum amount of payment (principal and/or interest) expected each period before the last, in lending asset decimals. |
loanStartTime |
Timestamp where interest calculation starts. |
loanState |
Specifies the state the loan is in. It can be one of the following: |
creditLine |
Contract address of the CreditLine contract which specifies the loan terms. |
fundingAsset |
Contract address of the ERC20 token that is being borrowed by the borrower. |
deployer |
Deployer of the LoanPool contract. |
borrower |
Address of the borrower. |
feeRecipient |
Address of the fee receiver. |
fundingStart |
Timestamp the pool is accepting deposits from lenders. |
fundingEnd |
Timestamp the pool stops accepting deposits. |
minFundingRequired |
Minimum amount required when funding is closed for successful funding. |
drawdownPeriod |
Duration after fundingEnd where drawdown can happen. |
fees |
Origination fees charged for successful funding, in 18 decimals. |
repayments |
Mapping to track amount of assets repaid to individual lenders when they withdraw, in asset decimals. |