User Story

Makers (Range Order Creators - Market Makers or Curators)

Makers configure range orders to facilitate borrowing and lending.

  1. Borrowing Range Order (Market Maker as Borrower):

    • Create Order:

      • Pre-built market parameters: Debt token, Collateral token, Maturity, LLTV, MLTV

      • Open Time

      • Collateral Amount (Can be adjusted)

      • Initial Borrow Amount (Can be adjusted)

      • Pricing Curve (Borrowing Amount vs. APR. Can be adjusted)

    • Order Lifecycle:

      • Order is to be taken by retail lenders.

      • Withdraw the borrowed amount.

      • Update Order (FT Reserve, XT Reserve against APR, Add/Remove Collateral, Repay)

      • Cancel Order

      • Early repay debt with remaining FT tokens

  2. Lending Range Order (Market Maker as Lender):

    • Create Order:

      • Pre-built parameters: Debt token, Collateral token, Maturity, LLTV, MLTV

      • Open Time

      • Initial Lend Amount (Can be adjusted)

      • Pricing Curve (Can be adjusted)

    • Order Lifecycle:

      • Order is to be taken by retail borrowers.

      • Update Order (XT Reserve against APR).

      • Cancel Order (Redeem remaining XT and original FT for debt tokens)

  3. Two-Way Range Order (Market Maker):

    • Order Types:

      • Starting with Collateral Token (similar to Borrowing Range Order).

      • Starting with Debt Token (similar to Lending Range Order).

      • Create/Update Order: Two distinct Pricing Curves (Borrowing and Lending).

    • Order Lifecycle:

      • Order is to be taken by both retail lenders and borrowers/leveragers.

      • Cancel Order (Withdraw all XT and FT tokens and redeem them for debt tokens).

  4. Vault-Based Two-Way or Lending Range Order (Curator):

    • Initial Setup: Starts with Debt Token (similar to Lending Range Order). Gather liquidity from public users via a Vault.

    • Create/Update Order:

      • Two-way Range Order: Two distinct Pricing Curves for Borrowing and Lending.

      • Lending Range Order: Pricing curve for Lending.

    • Order Lifecycle:

      • Order is to be taken by both retail lenders and borrowers/leveragers.

      • Cancel Order (Withdraw all XT and FT tokens and redeem them for debt tokens).

Takers (Users Interacting with Existing Pools with configured Range Orders)

  1. Retail Borrower: Match with Lending Range Order placed by market makers or curator’s vaults.

  2. Retail Leverager: Match with Lending Range Order placed by market makers or curator’s vaults.

  3. Retail Lender: Match with Borrowing Range Order placed by market makers or curator’s vaults.

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