Architecture Overview
This page describes the target attn Credit architecture. The strongest current public proof is still the borrower-side Pump flow; broader capital-side expansion comes later.
attn Credit is organized around control, underwriting, servicing, and reporting. The architecture is designed so repayment enforcement and risk controls are observable and deterministic.
1. Core components
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Revenue Account Layer
- Controlled revenue account destinations for eligible fee flows (typically Squads multisig vaults with timelocked config changes and spending-limit allowlists).
- Routing verification and control-integrity checks (timelock / threshold / spending limits / config authority posture).
- Two-safes model: borrower safe holds the revenue accounts; a separate pool governance safe controls facility state transitions (activate/freeze/unfreeze).
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Control Plane
- Signer policy, timelocks, spending limits, and restricted config-change paths.
- Guardrails for payout permissions and emergency mode transitions.
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Credit Engine
- Computes borrowing base from trailing collectable revenue.
- Applies haircuts, concentration controls, and lane/borrower caps.
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Servicing Engine
- Executes sweeps, utilization checks, mandatory paydown enforcement.
- Handles throttle/freeze/default state transitions.
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Risk Engine
- Monitors drawdown, volatility, concentration, and control-integrity signals.
- Emits trigger events to tighten limits or escalate modes.
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Monitoring and Tape
- Produces facility-level reporting, reconciliations, and incident logs.
- Maintains operational audit history for lenders and governance.
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Capital Segmentation
- Separate risk boxes as the product expands.
- Capital-side reporting and LP structures sit on top of those boxes where applicable.
2. Data flows (simplified)
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Onboard and route
- Borrower routes eligible fees to controlled revenue accounts.
- Control plane validates config and policy compliance.
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Underwrite and size
- Credit engine computes initial limit and policy bounds.
- Facility is assigned to the appropriate credit pool policy.
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Draw and serve
- Borrower draws within current availability.
- Servicing engine runs sweeps and utilization discipline checks.
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Monitor and adjust
- Risk engine watches live signals.
- Limits tighten or loosen according to policy and lane constraints.
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Escalate if needed
- Triggered transitions move facility into throttle, freeze, or default handling.
- Routing continues to prioritize debt service during stress modes.
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Report and reconcile
- Monitoring outputs lender tape and governance summaries.
- LP-facing metrics roll up by credit pool and portfolio.
3. Lane separation in architecture
- Pump lane
- Higher volatility assumptions, tighter caps, faster control reactions.
- Broader commerce / receivables lane
- More conservative underwriting, stricter reporting/governance profile.
- No early commingling
- Separate credit pool accounting and risk limits in early phases.