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convex.lab.secured-loan.cvx Maven / Gradle / Ivy

;; Smart contract implementing a secured loan
;;
;; Concept:
;; 1. Issuer creates secured-loan contract in :initial state
;; 2. Issuer places collateral assets (tokens, etc.) in account under control of secured-loan contract
;; 3. Issuer switches state to :offered
;; 4. Lender may provide the loan, in which case state changes to :accepted
;; 5. Once accepted, issuer may withdraw borrowed funds but cannot touch collateral
;; 6. Issuer must ensure principal plus interest is repaid before the maturity date
;; 7. At maturity, either:
;;  a) Loan is repaid, and issuer regains control of collateral assets
;;  b) Loan defaults, and lender gains control of collateral assets

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