Secured Finance aims to provide a diverse range of loan assets to its users. To achieve this, we have established procedures for both listing new assets and delisting existing ones. This page outlines these processes in detail.
Seven days before the launch of new tenor periods for a newly listed asset, users can place pre-open 'limit orders' on one side of the orderbook. The orderbook is frozen one hour before the market opens, preventing any further actions like placing, amending, or canceling orders.
Initially, four orderbooks are opened, representing approximately a 1-year duration. Every week, an additional 3-month orderbook is added, eventually expanding to eight orderbooks to cover a 2-year duration, aligning with other assets on the platform.
The first step in the delisting process is to stop the auto-rolling feature for the asset in question. This means that matured loans will not be automatically reinvested into the nearest 3-month bucket.
Loans for the delisted asset will be allowed to expire naturally, without any forced liquidation or closure.
Repayment and Liquidation
After the loan's maturity, borrowers have a one-week window to repay their debt. Failure to do so will result in the liquidation of the borrower's collateral, ensuring lenders can recover their funds and maintain protocol stability.
Finally, after the 7-day repayment period, lenders can redeem their entire asset along with the accrued interest.
Trading will still be available for those who wish to unwind or clean up their positions even under the delisting process.
By following these procedures, Secured Finance ensures a smooth transition for both listing and delisting assets, maintaining the integrity and stability of the marketplace.