Portfolio

Git Source

Inherits: IPortfolio, UpgradeableBase, LoansManager

This smart contract represents a portfolio of loans that are managed by tranches. Each tranche can have different risk profiles and yields. The main functions are starting the portfolio, closing senior and equity tranches, and handling loans. It uses the LoansManager contract to manage loans and relies on TranchePool contracts for tranche management.

Min number of tranches is 2, first tranche is always equity.

State Variables

GOVERNANCE_ROLE

bytes32 public constant GOVERNANCE_ROLE = 0x71840dc4906352362b0cdaf79870196c8e42acafade72d5d5a6d59291253ceb1;

tranches

tranche[0] is always equity

ITranchePool[] public tranches;

tranchesData

TrancheData[] public tranchesData;

status

Status public status;

startTimestamp

uint40 public startTimestamp;

stoppedTimestamp

uint256 public stoppedTimestamp;

Functions

initialize

function initialize(
    address manager,
    address governance,
    IERC20 _asset,
    IProtocolConfig _protocolConfig,
    TrancheInitData[] memory tranchesInitData,
    IFixedInterestBulletLoans _fixedInterestBulletLoans
)
    public
    initializer;

Parameters

start

Starts the portfolio to issue loans.

• changes the state to Live
• gathers assets to the portfolio from every tranche.*

function start() external whenNotPaused;

closeSenior

Allow the senior tranche to withdraw.

• changes the state to SeniorClosed
• Distribute the remaining assets to the senior tranche.*

function closeSenior() external whenNotPaused;

closeEquity

Allow the equity tranche to withdraw.

• changes the state to EquityClosed
• Distribute the remaining assets to the equity tranche.*

function closeEquity() external whenNotPaused;

calculateWaterfall

calculate each tranche values based only on the current assets.

no fee

function calculateWaterfall() public view returns (uint256[] memory);

Returns

calculateWaterfallForTranche

no fee

function calculateWaterfallForTranche(uint256 waterfallIndex) external view returns (uint256);

calculateWaterfallWithLoansForTranche

no fee

function calculateWaterfallWithLoansForTranche(uint256 waterfallIndex) external view returns (uint256);

calculateWaterfallWithLoans

calculate each tranche values given the (current assets + loans value).

no fee

function calculateWaterfallWithLoans() public view returns (uint256[] memory);

loansValue

calculate the total value of all active loans in the contract.

function loansValue() public view returns (uint256);

getTokenBalance

get token balance of this contract

function getTokenBalance() external view returns (uint256);

_validateStart

function _validateStart() internal view;

_validateCloseSenior

function _validateCloseSenior() internal view;

_validateCloseEquity

validate portfolio

function _validateCloseEquity() internal view;

_distributeToTranches

function _distributeToTranches(uint256 lowestIndex) internal;

_calculateWaterfall

calculate each tranche values based only on the current assets and the status.

1. if the portfolio is in the preparation / equity closed stage, return the current assets of each tranche. 2. if the portfolio is in the live / paused stage, calculate based on the current assets in the portfolio and the loans value. 3. if the portfolio is in the senior closed stage, return the current assets of each tranche except for the equity tranche.

function _calculateWaterfall(uint256 assetsLeft) internal view returns (uint256[] memory);

_assumedTrancheValue

function _assumedTrancheValue(uint256 trancheIdx, uint256 timestamp) internal view returns (uint256);

_changePortfolioStatus

function _changePortfolioStatus(Status newStatus) internal;

addLoan

Create loan

function addLoan(AddLoanParams calldata params) external whenNotPaused returns (uint256);

Parameters

fundLoan

Fund the loan

function fundLoan(uint256 loanId) external whenNotPaused returns (uint256 principal);

Parameters

repayLoan

Repay the loan

function repayLoan(uint256 loanId) external whenNotPaused returns (uint256 amount);

Parameters

repayDefaultedLoan

Repay the loan

function repayDefaultedLoan(uint256 loanId, uint256 amount) external whenNotPaused;

Parameters

cancelLoan

cancel the loan

function cancelLoan(uint256 loanId) external;

Parameters

getAssumedCurrentValues

function getAssumedCurrentValues()
    public
    view
    returns (uint256 equityValue, uint256 fixedRatePoolValue, uint256 overdueValue);

stopPortfolio

stop the portfolio

function stopPortfolio() external;

restartPortfolio

restart the portfolio

function restartPortfolio() external;

checkPortfolioNeedStop

function checkPortfolioNeedStop(
    uint256 equityValue,
    uint256 fixedRatePoolValue,
    uint256 overdueValue
)
    public
    returns (bool);

checkPortfolioNeedRestart

function checkPortfolioNeedRestart(
    uint256 equityValue,
    uint256 fixedRatePoolValue,
    uint256 overdueValue
)
    public
    returns (bool);

markLoanAsDefaulted

Cancel the loan

function markLoanAsDefaulted(uint256 loanId) external whenNotPaused;

Parameters

increaseTokenBalance

function increaseTokenBalance(uint256 amount) external;

_requireManagerOrCollateralOwner

function _requireManagerOrCollateralOwner(address collateral, uint256 collateralId) internal view;

_requireTranchePool

function _requireTranchePool() internal view;

_requireGovernanceRole

function _requireGovernanceRole() internal view;

_grantGovernanceRole

function _grantGovernanceRole(address governance) internal;