Trilobyte
  • 📖Trilobyte Documentation
  • User Docs
    • Introduction
      • What problem is the protocol trying to address?
      • Use case examples
    • Vault Overview
    • For Borrowers
      • The Vault phases
        • The Funding Phase
        • The Approval phase
        • The Lending Phase
        • The Completed Phase
        • The Closed Phase
        • The Default Phase
      • Receiving a loan
    • For Investors
      • Loan financing
      • Withdrawals
    • Vault payments
    • Protocol Revenue and Fees
    • Default Procedure
    • Governance
  • TECHNICAL DOCS
    • Smart Contract Architecture
  • Stellar futurenet tests
    • Freighter wallet
    • Testing information
    • Testing deposits and withdrawals for a Vault in Funding status
    • Testing approval and withdrawal of a loan by the borrower
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  1. User Docs
  2. For Borrowers
  3. The Vault phases

The Approval phase

This is the second phase of the Borrower's Vault. Once Investors have fully funded, the Vault automatically transitions to the Approval phase. During this phase the following happens:

  • Until approval of the loan by the Borrower, Investors may withdraw their funds by returning their Vault Tokens to the Vault. Investors do not receive interest in this case.

  • The Borrower can approve the loan. Approval of the loan is always initiated by the Borrower and is never an automatic process.

  • Approval of the loan will initiate the Lending Phase.

PreviousThe Funding PhaseNextThe Lending Phase

Last updated 2 years ago