Glossary

General Concepts

Term	Definition
Amortized	A type of repayment schedule that involves equal payment each period. The payments are applied towards both principal and interest balance. See Repayment Type
Asset (or Funding Asset)	An ERC20 token that the borrower is borrowing and repaying in.
Balloon (or Bullet)	A type of repayment schedule that involves interest only payment each period until the last period where both interest and principal are repaid. Payments before the final payment are applied to the interest only.
Default	Occurs when a Borrower fails to make a payment on a loan, even after the grace period. A loan in default incurs extra late interest fees and the borrower may be at risk of further actions as specified in the loan agreement between the borrower and lender. See Delinquency
Delinquency	Occurs when a Borrower fails to make a payment on a loan by the specified due date. The loan is at risk of being in default once the grace period has past. See Default
Governor	The entity responsible for managing protocol parameters.
Loan Term	The conditions, such as number of payments and interest rate, that are specified in a loan agreement between a Borrower and the Lenders.
Pool	The contract which the Borrower can specify the loan terms and obtain financing from Lenders.
Repayment Type	A condition under the loan term which specifies the proportion of the loan to be repaid in each term. See Amortized and Balloon

Technical Terms or Variables

Term	Definition
maxLimit	Max amount of the asset that is allowed to be borrowed, in lending asset decimals. This is set in the credit line contract on loan pool creation and cannot be changed.
interestApr	Annual interest rate of the loan, in 18 decimals. ie. A pool with 10% APY will have the value 1e17. This is set in the credit line contract on loan pool creation and cannot be changed.
lateFeeApr	Annual interest rate of the loan, in addition to interestApr when late fees are incurred, in 18 decimals. ie. A pool with 5% APY will have the value 5e16. This is set in the credit line contract on loan pool creation and cannot be changed.
earlyRepaymentFee	Fees charges on repayments before the due date, in 18 decimals. ie. A pool with 1.5% early repayment fees will have the value 15e15. This is set in the credit line contract on loan pool creation and cannot be changed.
paymentPeriod	Length of time between repayment, in seconds. The first repayment will be a single paymentPeriod after the drawdown timestamp. ie. A pool with 30 days payment period will have the value set to 2592000 seconds. This is set in the credit line contract on loan pool creation and cannot be changed.
loanTenureInPeriods	Expected number of periods to repay the loan. ie. A loan to be fully repaid in 360 days with 30 days payment period will have the value set to 12. This is set in the credit line contract on loan pool creation and cannot be changed.
gracePeriod	Time since a payment period where late interest is not charged, in seconds. ie. A loan with 7 days grace period will have the value set to 604800 seconds. This is set in the credit line contract on loan pool creation and cannot be changed.
principalBalance	Amount of principal balance, in lending asset decimals. ie. If a pool has 100,000 USDC of principal outstanding the value will be 100,000e6, since USDC has 6 decimal places.
interestBalance	Amount of interest balance, in lending asset decimals. Note that the number was last updated at lateInterestAccrued and may not include addition amount due now. ie. If a pool has 1,000 bluSGD of principal outstanding the value will be 1,000e18, since bluSGD has 18 decimal places.
totalPrincipalRepaid	Cumulative sum of repayment towards principal, in lending asset decimals. ie. If a pool has received 50,000 xSGD paid towards the principal, the value will be 50,000e6, since xSGD has 6 decimal places.
totalInterestRepaid	Cumulative sum of repayment towards interest, in lending asset decimals. ie. If a pool has received 50,000 DAI paid towards the principal, the value will be 50,000e18, since DAI has 18 decimal places.
totalEarlyFeePaid	Cumulative sum of early repayment fees, in lending asset decimals. ie. If a pool has received 1,000 bluSGD paid as early repayment fees. The value will be 10,000e18, since bluSGD has 18 decimal places.
additionalRepayment	Additional repayments made on top of all principal and interest, in lending asset decimals. Note that additional repayments are refunded to borrower.
lateInterestAccrued	Cumulative sum of late interest, in lending asset decimals. Note that the number was last updated at lateInterestAccrued and may not include addition amount due now.
interestAccruedAsOf	Timestamp of the last time interest was accrued and updated.
lastFullPaymentTime	Timestamp of the last time full payment was made, ie when borrower is not falling behind of payments.
minPaymentPerPeriod	Minimum amount of payment (principal and/or interest) expected each period before the last, in lending asset decimals. ie. If a pool has 10,000e18 for the value and is using bluSGD as the token, it is expecting 10,000 bluSGD to be repaid by the borrower during each paymentPeriod
loanStartTime	Timestamp where interest calculation starts. This value is set once when the borrower drawdown on the loan.
loanState	Specifies the state the loan is in. It can be one of the following: - Funding - Refund - Repayment - Repaid
creditLine	Contract address of the CreditLine contract which specifies the loan terms.
fundingAsset	Contract address of the ERC20 token that is being borrowed by the borrower. ie. If the borrower is borrowing bluSGD token, the bluSGD contract address will be used.
deployer	Deployer of the LoanPool contract. Note that this would be set to the LoanPoolFactory.
borrower	Address of the borrower. Note that only the borrower can drawdown on the funds.
feeRecipient	Address of the fee receiver. Note that this is set to Bluejay's treasury on loan pool creation.
fundingStart	Timestamp the pool is accepting deposits from lenders.
fundingEnd	Timestamp the pool stops accepting deposits.
minFundingRequired	Minimum amount required when funding is closed for successful funding. If the minimum funding level is not met at fundingEnd, the borrower will not be able to drawdown on the funds and lenders can request for a refund.
drawdownPeriod	Duration after fundingEnd where drawdown can happen. This prevents idle borrowers from locking lenders funds. ie. If the fundingEnd is 1st Feb 2023 and the drawdownPeriod is 7 days, the pool will be available for refund if the borrower does not drawdown and start the interest calculation by 8th Feb 2023.
fees	Origination fees charged for successful funding, in 18 decimals. Note that the fees will not be charged when the loan pool goes into the refund state. ie. If the fees is 10 basis points, fees will be set to 1e16.
repayments	Mapping to track amount of assets repaid to individual lenders when they withdraw, in asset decimals. ie. If 10,000 USDC has been repaid to the lender, the repayments[lender] will be set to 10,000e6.