🤸‍♂️Borrower Actions

As a borrower using the Atlendis protocol, the following actions can be taken

Borrow

Borrowers have the freedom to borrow up to their borrow capacity. If a loan is not ongoing, it initiates a new borrow cycle with a fixed maturity date.

Further Borrow

If the borrower has not used their full borrow capacity and the loan has not yet matured, they can borrow further from their liquidity pool. However, this does not affect the initial maturity date.

Repay

Repayment must be made during a specific period prior to the maturity date, the repayment period. Any repayment made during that period includes the repayment of principal and interests in full.

Any repayment after the maturity date will incur additional late repayment fees.

If borrowers want, they can activate the early repayment option, which allows them to repay their loan whenever they want before the repayment period starts. In that case, they will repay the principal with only a fraction of the interests for the full maturity. This feature is optional, and whether early repayment is activated or not will be displayed in the pool page.

Roll Over

As there are no waiting time between the end of a cycle and the start of the following one, the borrower has the ability to rollover their loans, starting a new cycle right after the previous one. By doing that, the borrower can prevent some token transfers that would otherwise imply time consuming and expensive fiat on/off ramping.

However, the conditions may not remain the same for the two successive loans. The borrowing rate and available borrowing amount might differ depending on market conditions. The borrower might have to accept different conditions for its loan, which might necessitate additional transfers. If the borrower borrows more for its new loan, it will receive the complement amount, it's the opposite if the borrower reduces its exposure.

To leave enough time to the borrower to make their decision on what to do for the next cycle, a specific freeze period can be activated upon request. This introduces a short period before maturity that prevents lenders from withdrawing liquidity from the pool. Although rolling over is possible for all pools, the specific feature will depend on the pool.