Before you create a pool

Anyone can deploy a pool from a Precept factory, because the factory has no allowlist. Most of what you choose becomes permanent the moment the pool leaves setup, so treat the configuration as final.

What you choose

At deployment:

  • Admin: the account that administers the pool. It can be handed over later with propose_admin and accept_admin.
  • Name and salt.
  • Oracle: fixed for the pool's life. It must report 7 decimals, or the pool cannot leave setup.
  • Backstop take rate: must be 0.
  • Maximum positions: how many positions one account can hold. Allow for every pairing of reserves, including a liquidation auction's lot and bid.
  • Minimum collateral: the smallest effective collateral a borrower can hold. Set it to 0 to rely on each reserve's min_position instead.

During setup, the admin adds reserves and sets their parameters. A queued change takes effect at once during setup.

What cannot change after activation

  • Any parameter of a live reserve, including its collateral factor, interest curve and supply cap.
  • The list of reserves. You cannot add one.
  • The oracle address, take rate, position limit and collateral minimum, because update_pool is switched off.
  • The contract code, which has no upgrade path.

To change any of these, you deploy a new pool and move users to it. Templar's own markets have done this once: they were redeployed on 2026-10-28 to change min_collateral.

What you can still do

  • Change status: 0 active, 2 on-ice and 3 permissionless on-ice.
  • Freeze the market with status 4. This is permanent. Only withdrawals, repayments and auction fills continue.
  • Switch a reserve off. The change waits one week, then anyone can apply it. It cannot be reversed.

Risks gives the exact bounds of each one.

The backstop you still need

A pool cannot become active unless its backstop passes the activation threshold, even though the backstop provides no protection. Templar's markets meet it with their own activation stack: a dedicated factory, a Comet pool, an emissions-disabled backstop and placeholder tokens with no value. See The disabled backstop.

What you are signing up to run

  • Price refreshes. Someone has to call the oracle proxy's refresh often enough that prices stay within each asset's maximum age. Otherwise liquidations stop.
  • Ledger entries. Someone has to extend the oracle, pool and backstop instances so they are not evicted.
  • Liquidators. Nothing obliges anyone to fill auctions. Check that independent operators cover your collateral asset before you launch.

A step-by-step deployment guide is not published yet.