Pool Factory

In the following sections we elaborate the PoolFactory.sol specification.
Purpose
Pool Factory is used to create pools that allows a borrower to borrow from a group of lenders. Pool Factory stores the various global parameters to manage pools. Borrowers need to be verified to be able to create a pool.
Roles
Admin
Assignment
by deploying the contract
gaining ownership from previous owner
Permissions
Can transfer ownership to another admin
Can update logic contract implementation addresses
Can update thresholds for parameters
Borrower
Assignment
Users verified by one of the supported Verifiers
Permissions
Can call the createPool() to create new pools for loan requests
Functionality
Create Pool
A verified user can create a lending pool to borrow from a group of lenders. The following function is used to create a pool.
Function
function createPool(
    uint256 _poolSize,
    uint256 _borrowRate,
    address _borrowToken,
    address _collateralToken,
    uint256 _collateralRatio,
    uint256 _volatilityThreshold,
    uint256 _repaymentInterval,
    uint256 _noOfRepaymentIntervals,
    address _poolSavingsStrategy,
    uint256 _collateralAmount,
    bool _transferFromSavingsAccount,
    bytes32 _salt,
    address _verifier,
    address _lenderVerifier
)
Approvals
msg.sender should approve collateral tokens to the pool to be created, by pre-generating the pool address.
Restrictions
msg.sender: verified users only
msg.value: Only if collateralToken is address(0) (Ether) should be == _collateralAmount
Note: All the parameters might be subject to range specified by admin. We threshold the following parameters:
_collateralRatio ∈\in∈
 [collateralRatioLimit.min, collateralRatioLimit.max]
_borrowRate ∈\in∈
 [borrowRateLimit.min, borrowRateLimit.max]
_noOfRepaymentIntervals ∈\in∈
 [noOfRepaymentIntervalsLimit.min, noOfRepaymentIntervalsLimit.max]
_repaymentInterval ∈\in∈
 [repaymentIntervalLimit.min, repaymentIntervalLimit.max]
These ranges have been defined purely to better manage risks, especially during the early stages. This thresholding can be removed at a later stage.
Arguments
_poolSize: loan amount requested
_borrowRate: Interest rate per annum for borrowing. The interest rate fraction should be multiplied by 10**30. e.g. interest rate of 10% should be converted to 10**29
_borrowToken: Borrow Asset requested. If Ether, address(0) to be used
_collateralToken: Asset posted as collateral for the loan. If Ether, address(0) to be used
_collateralRatio: Limit on the ratio of collateral to the debt (principal + interest), which if falls below a threshold, results in liquidation (Refer to Broken link). The _collateralRatio should be multiplied by 10**30
_repaymentInterval: Interval in seconds after which 1 instalment of interest repayment for loan should be repaid
_noOfRepaymentIntervals: Number of instalments in which interest of loan will be repaid
_poolSavingsStrategy: Whitelisted strategy in which the collateral tokens should be invested in Savings Account
_collateralAmount: Amount of asset to be deposited as collateral for the loan
_transferFromSavingsAccount: Flag to determine if collateral will be added from the Savings Account or directly transferred from the borrower's wallet
_salt: random and unique initial seed used in pre-generation of the pool address
_verifier: Verifier that the borrower chooses to represent their identity for this pool. A modifer (onlyBorrower()) is passed this parameter to check whether they've actually been verified by _verifier or not
_lenderVerifier: Verifier that lenders that wish to participate in the pool need to be verified by
Twitter Verifier
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Last modified 7mo ago
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