Whale Match (P2Pool) Borrowing & Lending
MYSO's v2 Peer-to-Pool system is a decentralized borrowing and lending system built on the Ethereum blockchain that empowers lenders and borrowers to engage in peer-to-pool loan transactions.
Core Contract Overview
Factory: The Factory contract operates as the system's engine, enabling the creation of new Funding Pool instances and Loan Proposal instances. It ensures each instance is uniquely identified and linked to the appropriate lender or borrower. Furthermore, it offers a mechanism for lenders and borrowers to interact with the system effectively by creating, retrieving, or updating funding pools and loan proposals.
Funding Pool Implementation: The Funding Pool Implementation contract manages the allocation of funds within the system. It handles deposits from lenders, handles the funding of loan proposals, and manages repayments and fund withdrawals. It also tracks the status and balances of all pools to ensure accurate accounting and enable efficient distribution of funds to loan proposals.
Loan Proposal Implementation: The Loan Proposal Implementation contract oversees the entire loan proposal process. It facilitates the proposal, acceptance, and finalization of loan terms, as well as the transfer of collateral from the borrower. This contract also handles situations of default and tracks subscriptions and conversions associated with each loan proposal.
Main User Flows
Lenders
Factory Interaction: Lenders initiate their journey by interacting with the Factory contract. They deploy a new Funding Pool instance within the system, which serves as a hub for their lending activity.
Depositing Funds: Upon creating a Funding Pool, lenders deposit their funds into it. These funds are then made available for lending to borrowers.
Subscribing: Borrowers can explore available loan proposals, and once they find a suitable proposal they can subscribe to it.
Converting & Claiming Repayments: Once a loan gets accepted by a borrower and a certain grace period has passed, lender's subscriptions get invested. Conversion contracts to keep track of the activity related to their loan proposals.
Arrangers
Creating Loan Proposals: Lenders can create loan proposals specifying the terms they are willing to lend under. They interact with the Loan Proposal Implementation contract to propose terms for a new loan.
Adjusting Terms: Arrangers can update loan proposal terms to enhance their appeal to borrowers and lenders. This is done by modifying the proposed terms within the Loan Proposal Implementation contract.
Borrowers
Loan Proposal Selection: Borrowers use the Factory contract to explore available loan proposals. Once they find a suitable proposal, they interact with the Loan Proposal Implementation contract to accept the proposed terms.
Securing Collateral: Borrowers deposit their collateral into the Collateral contract. This collateral is locked until the loan is fully repaid, or the borrower defaults, at which point it is transferred to the lender.
Repaying the Loan: Borrowers are responsible for repaying their loans based on the agreed terms. They interact with the Funding Pool Implementation contract to make repayments. In the case of default, they lose their collateral to the lender."
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