# For Pool Managers

This guide explains how Pool Managers operate within Trilobyte — from onboarding to vault management.

## What is a Pool Manager?

Pool Managers are **professional underwriters** who bridge borrowers and investors. They evaluate businesses, structure loans, and take financial responsibility for the vaults they create by staking collateral.

## Getting Started

### 1. Get Approved

Pool Managers must be approved by the protocol's **Operations Admin**:

* An Ops Admin calls `add_pool_manager(caller, manager)` to register your address
* Then calls `approve_pool_manager(manager, caller, max_credit)` to activate you with a **credit limit**
* Your credit limit caps the total outstanding principal across all your active vaults

### 2. Deposit Collateral

Before creating vaults, you must deposit collateral:

* Call `deposit_collateral(manager, token, amount)` on the Globals contract
* Collateral must cover a percentage of each vault's principal (set by the global `collateral_ratio`)
* Collateral is locked when you create a vault and released when the vault is fully repaid

{% hint style="warning" %}
Your collateral is **slashed** if any of your vaults default. This is your skin in the game — it aligns your incentives with investors.
{% endhint %}

## Creating a Vault

### 1. Structure the Loan

Negotiate terms with the borrower off-chain:

* **Principal** — Loan amount (must be within global min/max bounds)
* **Interest rate** — Annual rate in basis points (must exceed global minimum)
* **Loan term** — Duration in months (must be within global min/max bounds)
* **Split ratio** — Percentage of payments routed to the EMI pool (1–99)
* **Permissioned** — Whether to restrict investors to an allowlist
* **Funding deadline** — Optional deadline for full funding (0 = no deadline)
* **Approval deadline** — Optional deadline for your approval after funding (0 = no deadline)
* **Grace period** — Seconds after a missed payment before default can be triggered

### 2. Deploy via Factory

Call `create_vault(params, salt)` on the Factory contract. The Factory will:

1. Verify you are an approved, active manager
2. Check you are **not delinquent** (no previous defaults)
3. Check your **credit limit** (`outstanding + principal ≤ max_credit`)
4. Validate all loan parameters against global settings
5. **Lock your collateral** proportional to the principal
6. **Increment your outstanding principal**
7. Deploy a new Vault smart contract

### 3. Manage the Allowlist (Permissioned Vaults)

For permissioned vaults, manage who can invest:

* `add_to_allowlist(caller, investor)` — Allow an address to deposit
* `remove_from_allowlist(caller, investor)` — Revoke access

## Managing Active Vaults

### Approve & Disburse

Once the vault is fully funded (phase = AwaitingApproval):

* Call `approve_and_disburse(caller)` to release funds to the borrower
* This calculates the EMI, sets the payment schedule, and transitions to Active

### Monitor Repayments

Track vault health using query functions:

| Function                | What It Shows               |
| ----------------------- | --------------------------- |
| `get_payments_made()`   | Number of payments received |
| `get_outstanding()`     | Remaining principal         |
| `get_next_due()`        | Next payment due date       |
| `get_missed_payments()` | Consecutive missed payments |
| `get_late_fees()`       | Accumulated late fees       |
| `get_emi_pool()`        | Total investor yield pool   |
| `get_cash_pool()`       | Total borrower cash pool    |

### Apply Late Fees

If a payment is overdue (`now > next_due`):

* Call `apply_late_fee(caller)` to apply an 18% p.a. penalty
* This increments the missed payments counter and advances the next due date
* Use this to signal vault distress and incentivise borrower repayment

### Renegotiation

When terms need adjustment:

1. Call `propose_renegotiation(caller, new_interest_rate, new_loan_term)` — enters Renegotiation phase
2. Review the proposal, then either:
   * `approve_renegotiation(caller)` — Apply new terms, recalculate EMI, return to Active
   * `reject_renegotiation(caller)` — Cancel and restore previous phase

Renegotiation can be proposed from both **Active** and **Defaulted** phases.

## Collateral Management

| Function                                     | Description                                    |
| -------------------------------------------- | ---------------------------------------------- |
| `deposit_collateral(manager, token, amount)` | Stake collateral tokens                        |
| `withdraw_collateral(manager, amount)`       | Withdraw unlocked (staked − locked) collateral |
| `get_manager_collateral(manager)`            | View staked and locked amounts                 |
| `get_available_collateral(manager)`          | View withdrawable balance                      |

### Collateral Lifecycle

```
Deposit → Staked
               ↓ (vault created)
            Locked
               ↓ (vault fully repaid)
            Released → Staked (withdrawable)
               ↓ (vault defaulted)
            Slashed (lost)
```

## Delinquency

If one of your vaults defaults:

* You are marked **delinquent** in the Globals contract
* You are **blocked** from creating new vaults via the Factory
* Your `delinquency_count` is incremented
* Only an **Operations Admin** can clear your delinquency after review

{% hint style="danger" %}
Delinquency is a serious flag. It indicates a failure in underwriting or borrower management. The Operations Admin will review the circumstances before clearing it.
{% endhint %}

## Key Constraints

| Constraint                      | Enforced By |
| ------------------------------- | ----------- |
| Must be approved and active     | Factory     |
| Must not be delinquent          | Factory     |
| Outstanding ≤ credit limit      | Factory     |
| Sufficient collateral           | Factory     |
| Parameters within global bounds | Factory     |


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