Market Creation

Lotus markets are created with MarketParams and bytes encoding IRM parameters and Liquidation Module parameters.

function createMarket(
    MarketParams memory newMarketParams,  // The MarketParams for the new market.
    bytes calldata irmParams,             // The parameters for the IRM.
    bytes calldata liquidationParams      // The parameters for the liquidation module.
) external
    ...
    lastUpdate[id] = uint128(block.timestamp);
    IIrm(newMarketParams.irm).initialize(id, irmParams);
    ILiquidationModule(newMarketParams.liquidationModule).initializeMarket(id, liquidationParams);
    ...
}

struct MarketParams {
    address loanToken;          // ERC-20 token for lending and borrowing
    address irm;                // IRM determines tranche borrow rates based on utilization
    address liquidationModule;  // Liquidation Module prices and executes liquidations
    address[] collateralTokens; // Per-tranche collateral token 
    address[] oracles;          // Per-tranche price oracle for loan health checks
    uint128[] lltvs;            // Per-tranche Liquidation Loan-to-Value
}