Deal Lifecycle

Every deal on xPhlo moves through a defined set of on-chain states. State transitions are enforced by the smart contract and triggered by the relevant participant.

Funding The deal is open for investor commitments. Investors commit Mock USDC up to the target amount. The funding deadline can be extended by the admin if needed.

Active The deal has been fully funded and the borrower has drawn down the capital. The loan is live. No further investor commits are accepted.

Late The deal has passed its maturity date without repayment. Triggered by the admin to reflect real-world credit monitoring.

Impaired The loan has been identified as at risk. Triggered by the admin.

Defaulted The borrower has not repaid and the loan is in default. Triggered by the admin.

Resolved The deal has been resolved following a default or impairment whether through recovery, restructure, or write-off.

Cancelled The deal was cancelled before drawdown. All investor commitments are fully refundable. Investors use Claim Refund to recover their capital.

State transitions are recorded as on-chain events and visible in the deal event timeline.

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