Lender Voting

Lenders have the final say to reject the proposed draft offers in their respective pools or to let them proceed to become active offers.

Lenders can cast votes to reject drafted offers in their respective pools. As soon as the draft offer is locked, First Loss Capital Provider must facilitate creation of a votable proposal to reject the offer. Any lender who owns at least 1 Pool Token can also choose to create such proposals.

Sapling lender voting smart contracts have a 24 hour voting period for each proposal, and a quorum of 50.1% for a proposal to go forward. A successful proposal to reject a loan can be executed at the end of the voting period cancelling the drafted offer and releasing the temporarily allocated liquidity back to the pool.

Execution of the passing proposal must be done within the 48 hour delay that has started when the draft offer was locked.

Lender voting contract parameters are fixed and cannot be changed once deployed.