DebtRegistry Specification

DebtRegistry Specification

Overview

The DebtRegistry contract serves as the canonical registry of all debt agreements issued via Dharma protocol. We intentionally heavily restrict the mutability of the registry such that only an extremely limited set of mutations on the registry can be executed by a well-defined set of parties. First, we define some terminology:

Terminology

1. Creditor - the address of an entity who "owns" a given debt and expects to receive repayments from it.
2. TermsContract - the address of a smart contract adhering to the Terms Contract Interface -- this contract defines the expected terms of repayment and can be used to deterministically determine whether or not a given debt has been defaulted on.
3. TermsContractParameters - a string of text ingested by a given terms contract that contains parameters defining repayment terms in a given TermsContract. As an example, a TermsContract could define a generic, simple interest rate repayment scheme, and its associated TermsContractParameters string would contain the interest rate parameter. The schema of the TermsContractParameters is not enforced by the DebtRegistry, but, rather, can vary based on the TermsContract it is associated with.
4. Agents - parties that have permission to execute a certain type of mutation on the registry (not to be confused with "agents" as defined in the Dharma white paper)
5. Owner - the address of the contract's owner.

DebtRegistry Entry Schema

{
  version: <Version String>
  creditor: <Creditor's Address>,
  termsContract: <Terms Contract Address>,
  termsContractParameters: <Terms Contract Parameters String>,
  underwriter: <Underwriter Address>,
  underwriterRiskRating: <Underwriter's Risk Rating>
}