Onboarding a new Allocator (end-to-end)

Goal: grant an address the Allocator role, set its credit line & fee, assign pockets per asset, and produce a referral code.

TL;DR

Register action type → register UCE as governed (one-time) → queue SET_ALLOCATOR with parameters → wait timelock → execute → (optionally) update pockets.

1

Prerequisites (usually one-time)

• Register UCE as a governed contract

  • Action: REGISTER_CONTRACT

  • Payload: (address contractAddr, string name) → e.g., (UCE, "Orbit UCE")

  • Sign (≥ 4), queue, timelock, execute.

• Register product action types (if not already)

  • Actions: REGISTER_ACTION_TYPE for:

    • ACT_SET_ALLOCATOR

    • ACT_SET_ALLOCATOR_POCKETS

  • Each call: payload (bytes32 actionType, string description).

2

Parameters required for onboarding

• Allocator address (init.allocator)

• Credit line:

  • ceiling - max effective debt

  • dailyCap - max issuance per 24h rolling UTC day

• Borrow fee: borrowFeeBps (e.g., tuned to target ~5% annualized policy)

• Allowed flag: allowed = true

• Per-asset scope:

  • assets[] - list of supported underlyings this allocator will manage

  • pocketsNew[] - pocket addresses per asset (same order as assets[])

The UCE also computes and assigns a referral code to the allocator during SET_ALLOCATOR. The code is derived from (allocator, ceiling, dailyCap, borrowFeeBps). If these values change later, governance may re-assign a new code (the old mapping is cleared).

3

The governance call(s)

1. Onboard / set allocator

   • Action: ACT_SET_ALLOCATOR

   • Payload: (op, SetAllocatorMemory init, address[] assets, address[] pocketsNew) where:

     • op = SET_ALLOCATOR

     • init = { allocator, allowed, line{ceiling, dailyCap, mintedToday=0, lastMintDay=current}, borrowFeeBps }

     • assets[] and pocketsNew[] can be empty if pockets will be set in a follow-up call.

   • Effects (on UCE):

     • Marks allowed = true.

     • Stores credit line and borrowFeeBps.

     • Generates and maps a referralCode.

     • Emits AllocatorSet, CreditLineUpdated, AllocatorBorrowFeeSet, AllocatorReferralSet.

2. (Optional) Set or update allocator pockets

   • Action: ACT_SET_ALLOCATOR_POCKETS

   • Payload: (allocator, asset, newPocket) for single-asset tweaks, or call ACT_SET_ALLOCATOR with op = UPDATE_POCKET and arrays for batch updates.

   • Effects:

     • Updates allocator → asset → pocket mapping.

     • Emits AllocatorPocketSet and migrates any pullable balances between old/new pockets.

Both actions go through: sign (≥ 4, ≤ 9) → queue (timelock) → execute. If the signers or parameters are invalid, the governance module rejects them upfront (before queueing) by verifying valid action type, signatures, and nonce.

4

After onboarding: operational readiness checklist

• Fund pockets with initial liquidity; keep allowances to UCE high enough for expected redemptions.

• Pre-mint inventory using allocatorCreditMint (staying within dailyCap and ceiling).

• Distribute referral code to direct your user flow.

• Set up monitoring for: reserve levels, allowances, pocket balances, Aave utilization, surcharge spikes, and debtIndex moves