Home

Awesome

Cooler Loans

With the successful conclusion of OIP-144 and its subsequent RFCs, Olympus will implement a lending facility that to allow users to take fixed term loans against their gOHM.

Such lending facility has been built on top of 3 smartcontracts:

Cooler.sol

src/Cooler.sol

A Cooler is an escrow contract that facilitates fixed-duration, peer-to-peer loans for a user-defined debt-collateral pair.

CoolerFactory.sol

src/CoolerFactory.sol

Clearinghouse.sol

src/ClearingHouse.sol

The lending facility is called Clearinghouse. This smart contract has been built to be integrated with Olympus V3 and the Default Framework. As such, the Clearinghouse is a Policy that will have permissions to incur debt from the Treasury (to issue the loans), as well as burning OHM (to reduce supply whenever a borrower defaults).

Diagram

The following diagram aims to provide a high-level overview of the lending facility architecture. For further context, the contracts and their comments should be read.