Factory - Documentation

The Factory contract is responsible for deploying all components of a Monolith instance and managing the global fee. Contract implementation

Constructor

constructor(address _operator, uint256 _minDebtFloor)

Deploys the Factory and a shared InterestModel (accessible via interestModel()). Sets the initial operator and the global minDebtFloor that applies to every instance’s minDebt parameter.

User-Facing Functions

deploy

function deploy(DeployParams memory params) external returns (address lender, address coin, address vault)

Deploys a complete Monolith lending system consisting of a lender, stablecoin, and vault contracts. Parameters:

params: DeployParams struct containing deployment configuration

DeployParams Structure:

struct DeployParams {
    string  name;                        // Token name (e.g., "USD Coin")
    string  symbol;                      // Token symbol (e.g., "USDC")
    address collateral;                  // Collateral token address
    address psmAsset;                    // PSM asset token address (address(0) disables PSM)
    address psmVault;                    // PSM ERC4626 vault (address(0) if unused)
    address feed;                        // Chainlink-style price feed address
    uint256 collateralFactor;            // Max LTV numerator in bps (≤8500 = 85%)
    uint256 minDebt;                     // Minimum debt per position (≥ factory.minDebtFloor())
    uint256 timeUntilImmutability;       // Seconds until operator params lock (max 1460 days)
    address operator;                    // Instance operator (address(0) for none)
    address manager;                     // Instance manager (address(0) for none)
    uint64  halfLife;                    // Interest rate half-life (12 hours to 30 days)
    uint16  targetFreeDebtRatioStartBps; // Target free-debt ratio lower bound (≥500, ≤ end)
    uint16  targetFreeDebtRatioEndBps;   // Target free-debt ratio upper bound (≤9500)
    uint16  redeemFeeBps;                // Redemption fee (≤500 = 5%)
    uint32  stalenessThreshold;          // Oracle max staleness in seconds
    uint16  maxBorrowDeltaBps;           // Share-accounting rounding tolerance (50–200)
    uint128 psmVaultMinTotalSupply;      // PSM vault minimum supply (required if psmVault set)
}

Returns:

lender: Address of the deployed Lender contract
coin: Address of the deployed Coin (ERC‑20) contract
vault: Address of the deployed Vault (ERC‑4626) contract

Requirements:

All bounds listed above are enforced by Lender’s constructor and revert on violation.
params.collateral decimals must be ≤ 30.
params.psmAsset must differ from the deployed coin.
If params.psmVault is set, its underlying asset() must equal params.psmAsset and psmVaultMinTotalSupply must be > 0.

Deployment Process:

Calculates deterministic addresses using CREATE3
Deploys contracts in order: Lender → Coin → Vault
Initializes contracts with proper cross-references
Records deployment in factory registry

Events Emitted:

Deployed(lender, coin, vault)

deploymentsLength

function deploymentsLength() external view returns (uint256)

Returns the total number of deployments created by this factory. Returns:

uint256: Number of deployments

deployments

function deployments(uint256 index) external view returns (address lender)

Array accessor returning the Lender address at a given deployment index. Use together with deploymentsLength() to enumerate all instances.

interestModel

function interestModel() external view returns (address)

Returns the address of the shared InterestModel deployed by this Factory’s constructor. All Lenders deployed by this Factory use this same InterestModel instance.

minDebtFloor

function minDebtFloor() external view returns (uint256)

Returns the global immutable minimum debt floor. Every Lender’s minDebt must be ≥ this value at deployment.

pendingOperator

function pendingOperator() external view returns (address)

Returns the address currently queued to accept the operator role via acceptOperator().

operator

function operator() external view returns (address)

Returns the current operator address authorized to manage the factory. Returns:

address: Current operator address

feeRecipient

function feeRecipient() external view returns (address)

Returns the address that receives protocol fees. Returns:

address: Fee recipient address

feeBps

function feeBps() external view returns (uint256)

Returns the default fee rate in basis points (bps). Returns:

uint256: Default fee in bps (e.g., 100 = 1%)

getFeeOf

function getFeeOf(address _lender) external view returns (uint256)

Returns the fee rate for a specific lender deployment, using custom fee if set, otherwise default fee. Parameters:

_lender: Address of the lender deployment

Returns:

uint256: Fee rate in bps

isDeployed

function isDeployed(address deployment) external view returns (bool)

Checks if an address was deployed by this factory. Parameters:

deployment: Address to check

Returns:

bool: True if address was deployed by this factory

customFeeBps

function customFeeBps(address lender) external view returns (uint256)

Returns the custom fee rate for a specific lender deployment. Parameters:

lender: Address of the lender deployment

Returns:

uint256: Custom fee in bps, 0 if using default fee

Operator Functions

setPendingOperator

function setPendingOperator(address _pendingOperator) external

Sets a new pending operator address. Can only be called by current operator. Parameters:

_pendingOperator: Address to set as pending operator

Requirements:

msg.sender must be current operator

acceptOperator

function acceptOperator() external

Accepts operator role for the pending operator address. Requirements:

msg.sender must be pending operator

setFeeRecipient

function setFeeRecipient(address _feeRecipient) external

Sets the address that receives protocol fees. Parameters:

_feeRecipient: New fee recipient address

Requirements:

msg.sender must be current operator

setFeeBps

function setFeeBps(uint256 _feeBps) external

Sets the default fee rate in basis points. Parameters:

_feeBps: New fee rate in bps (max 1000 = 10%)

Requirements:

msg.sender must be current operator
_feeBps must be ≤ 1000

setCustomFeeBps

function setCustomFeeBps(address _address, uint256 _feeBps) external

Sets a custom fee rate for a specific lender deployment. Parameters:

_address: Lender deployment address
_feeBps: Custom fee rate in bps (max 1000 = 10%)

Requirements:

msg.sender must be current operator
_feeBps must be ≤ 1000

pullReserves

function pullReserves(address _deployment) external

Pulls accumulated reserves from a lender deployment to the fee recipient. Parameters:

_deployment: Lender deployment address

Requirements:

msg.sender must be fee recipient
_deployment must be a valid deployment

Events

Deployed(address indexed lender, address indexed coin, address indexed vault) — emitted by deploy() with the new instance addresses.
CustomFeeBpsSet(address indexed lender, uint256 feeBps) — emitted by setCustomFeeBps().
FeeBpsUpdated(uint256 feeBps) — emitted by setFeeBps().
FeeRecipientUpdated(address indexed feeRecipient) — emitted by setFeeRecipient().
PendingOperatorUpdated(address indexed pendingOperator) — emitted by setPendingOperator().
OperatorUpdated(address indexed operator) — emitted by acceptOperator().
ReservesPulled(address indexed lender, address indexed recipient, uint256 amount) — emitted by pullReserves().

​Constructor

​User-Facing Functions

​deploy

​deploymentsLength

​deployments

​interestModel

​minDebtFloor

​pendingOperator

​operator

​feeRecipient

​feeBps

​getFeeOf

​isDeployed

​customFeeBps

​Operator Functions

​setPendingOperator

​acceptOperator

​setFeeRecipient

​setFeeBps

​setCustomFeeBps

​pullReserves

​Events

Constructor

User-Facing Functions

deploy

deploymentsLength

deployments

interestModel

minDebtFloor

pendingOperator

operator

feeRecipient

feeBps

getFeeOf

isDeployed

customFeeBps

Operator Functions

setPendingOperator

acceptOperator

setFeeRecipient

setFeeBps

setCustomFeeBps

pullReserves

Events