CPOOL can be traded at the following venues:
ETHEREUM: 0x66761fa41377003622aee3c7675fc7b5c1c2fac5 POLYGON: 0xb08b3603c5f2629ef83510e6049edeefdc3a2d91 How much is the Borrower CPOOL stake?
The lower of either:
1% of the average pool size of all current permissionless pools
(borrower CPOOL stake = [(sum of pool size of all permissionless pools / number of permissionless pools) x 1%] / last daily closing price of CPOOL)
(borrower CPOOL stake = 0.5% of the borrower capacity as calculated by Credora / last daily closing price of CPOOL)
Initially all pools will be denominated in USDC. Additional assets may be considered based on demand, and can be added via governance in the future.
The process of closing a pool is simple, repay the borrowed amount plus interest, and proceed to close the pool. Please refer to the standard operating procedure PDF provided during onboarding.
There is no notice period required for closing a pool. Pools can be closed at any time by making full repayment (borrowed amount + interest).
Insurance is transferred to protocol revenue when a pool is closed.
Pool size is dynamic, and driven by market supply and demand. When a borrower has a higher/lower utilization rate, the interest rate for the pool will increase/decrease, and theoretically attract/repel liquidity, allowing the borrower to continue the process until the optimum level of liquidity has been reached.
Currently there is no limit to pool sizes, however borrowers can use the utilization curve in order to optimize the total pool size.
When a liquidity pool hits 99% utilization, a provisional default is triggered. In the event of a provisional default the borrower will be given a grace period of 5 days to return the utilization rate to below 85%. The provisional default rate and grace period duration can be modified via governance in the future.
If a pool remains above 95% utilization for the entire grace period, a default is triggered. In the event of a default, an auction will ensue allowing participants to bid for the pool's cpTokens (total debt of the pool). Please see Default for more information.
cpTokens are LP tokens received by liquidity providers when liquidity is supplied to a borrower pool. See cpTokens for more information.