Rolling Loans

Up to forty-eight (48) hours before maturity, the borrower can call the Roll function. Roll provides the option for lenders to extend the pool for an additional period equal to the original pool duration. Lenders may opt-in or opt-out of the Roll. When a pool is rolled, records of lenders who opted in are added to the rollLenders map. There, the pool keeps the information about the maturity date and interest accrued. Since users can opt-out from the next roll, their maturity date will be updated accordingly. With the current version of Prime, only single lender pools will be rollable.

If the borrower can’t repay the lenders who opted-out before Roll execution, penalty interest will start accruing immediately after missing the date and time of repayment.