https://etherscan.io/tx/0xa214f6bb0bd84d22bde4856a62bae6982541c4d5b7b6b76ccebf787cfe6874ba
gm or gn.
We have deployed a number of new smart contracts but we want to draw your attention to a few details.
1. X7 Lending Discount Authority
https://etherscan.io/address/0x74001e463b3c7dc95d96a1fdbe621678c24d47da
This contract manages what discounts will be applied during loan origination.
2. The X7 Borrowing Incentive NFT (X7BINCENTIVE)
https://etherscan.io/address/0x7400199bba0274242f47e3b573aa5e775a0090b1#code
This set of NFTs can be minted by the contract owner (currently 0x7000a09c425ABf5173FF458dF1370C25d1C58105).
20 have been minted to the Discount Authority Committee Multisig (https://app.safe.global/eth:0x0E95C6855e5911649190ceA54F625A625D9760b4/home) and the multisig has been configured for 5/8 (with 0x7000a09c425ABf5173FF458dF1370C25d1C58105 remaining on the multisig as a failsafe, but which can be removed by the committee if they wish to act entirely independently).
No project is guaranteed to have success and the aim for these incentive NFTs is to help adoption not be a failsafe selection committee. The X7 Devs nor should the Discount Authority Committee strictly endorse the recipients of these incentives.
3. The first three Loan Term NFT contracts:
X7ILL001: https://etherscan.io/address/0x7400165e167479a3c81c8fc8cc3df3d2a92e9017
X7ILL002: https://etherscan.io/address/0x740019a6b3a9cf3bd193986a560b05726143b217
X7ILL003: https://etherscan.io/address/0x74001c747b6cc9091ee63bc9424dff633fbac617
This is the modular component that will enable us to react quickly to market conditions and provide various different loan configurations to find the optimal product market fit (without needing to rebuild or rewrite our entire loan system). Astute code reviewers will notice that most of the three contracts share the same code and only a very small portion is different - the portion that configures the specific origination fee, premium fee, and payment terms.
From these contracts alone you can begin to explore the expected origination fee and premium fees that will be charged by the protocol.
We will soon be releasing the V1 Lending Pool contract. When a loan is originated it will be according to one of the above lending terms and a lending term NFT will be minted to the capital provider (either the lending pool itself or to a private lender). These NFTs have some guaranteed value in the context of principal repayment or liquidation as well as possible collections value on premiums. We expect and hope a secondary market will develop to improve lending liquidity. We have also considered the possibility that the ecosystem could auction them off, providing higher velocity of the lending pool funds.
