Project setup
A key component in the Growr protocol is the lending project. The project represents a loan offer with predefined conditions and eligibility criteria. Every loan in the protocol is approved and disbursed through a project. In addition, the project determines the funding needs and the potential investment channels. Projects are usually initiated by originators on behalf of their borrowers.
Project creation
Process steps:
- An originator admin creates a new project for lending service in the Lending portal.
- The user configures the eligibility criteria for approval of loans from the project.
- The user configures the parameters of the loan.
- The user configures one or more funding sources for the project.
- The user configures a description and media parameters of the project.
- The request is transferred from the Lending portal to the Growr Project service.
- Growr Project service creates a new project in the Projects book.
- Response message.
- Response message.
Project activation
Once a project is created, it must be activated to become operational. Once a project is activated, the following processes are unlocked:
- The lending service from the project becomes active i.e. new loan applications are accepted.
- The project becomes discoverable (in case the project is public).
- The project funding wallet is created and an on-chain listener is registered on the network (in case the project has one or more configured on-chain funding sources).
After a project is activated, it can be temporarily deactivated. This status pauses the lending service i.e. new loan applications will not be accepted until the project is activated again.
Process steps:
- An originator admin reviews the projects in the Lending Portal.
- The user selects a project in status DRAFT and activates it.
- The request is transferred from the Lending portal to the Growr Project service.
- Growr Project service activates the project.
- Response message.
- Response message.
The steps for project deactivation are the same.