Pools
GONDI Pools allow liquidity providers (LPs) to access yields on their idle WETH or USDC without the need to actively manage individual loan offers. By supplying assets into a GONDI pool, LPs grant the pool manager the flexibility to automatically place loan offers based on pre-configured parameters.
Each pool operates with a single currency and issues its own pool token using ERC-4626 standard, representing a share of the vault’s capital.
Each pool has a manager that sets parameters that guide how the pool interacts with GONDI's multisource smart contracts. Pools have their own set of parameters and operate completely independent from each other.
Pool Parameters
When a new pool is deployed, its parameters are defined by the pool manager. These parameters include:
List of Eligible NFT Collections: Specifies the NFT collections against which the pool can place loan offers.
Max Loan Duration: Sets the maximum loan duration (in days) that the pool can offer. Pool can offer shorter loan durations as set by manager
Max LTV (Loan-to-Value): Establishes the highest permissible loan-to-value ratio for offers placed against the selected NFT collections based on prices feed via oracle.
Currency Selection: Each pool is designed to operate with a single currency—either WETH or USDC—.
Fees: Custom fees may be set by the pool manager based on performance or deposits.
APRs are adjusted by pool manager to adapt to changing market conditions. Loan offers that fit within the set parameters can be constantly changed.
Editing Pool Parameters
Pool parameters can be changed by managers. Parameter changing has an implementation period of twice the longer loan duration to allow LPs who might not agree with new parameters to withdraw their positions before changes are implemented.
Withdrawals
LPs have two primary options to withdraw their funds from a pool:
Swap: LPs can choose to swap their pool tokens for the underlying asset (WETH or USDC) instantly via Uniswap. This option provides immediate liquidity, allowing LPs to exit the pool without delay.
Withdrawal Period: Alternatively, LPs can initiate a withdrawal process. In this mode, pool tokens are converted into a withdrawal NFT that represents the LP’s claim on the pool’s available capital. As the underlying loans are repaid, refinanced, or liquidated, LPs can claim their pro rata share of the freed-up capital. Important: The withdrawal period may extend up to the duration of the longest loan within the pool. This delay accounts for the time needed for outstanding loans to be repaid or liquidated before the corresponding funds can be fully released.
Last updated