# Risk Configuration Dictionary

> Markdown export of the Gearbox Protocol documentation page for agents and retrieval systems.

Canonical page: https://docs.gearbox.finance/core/risk-configuration-dictionary
Source file: content/core/risk-configuration-dictionary.mdx
Section router: https://docs.gearbox.finance/core/llms.txt
Section full export: https://docs.gearbox.finance/core/llms-full.txt

Flexibility is at the core of Gearbox’s design. Credit Accounts support a wide range of on-chain assets as collateral, which requires a risk framework capable of handling diverse asset properties. Gearbox’s risk controls are built to operate under uncertainty and adapt to any market conditions.

Gearbox is a platform for the permissionless creation and curation of lending markets. To participate safely, both Curators and Users must understand the risk-control allowlist: Curators need to know the capabilities it grants, while Users should understand the trust assumptions they accept when engaging in lending activity.

## Curator Roles

The Curator utilizes two primary roles to modify market parameters:

* **Admin**\
  Can modify all configurable parameters, subject to a minimum **24-hour timelock**.
* **Emergency Admin**\
  Can update a limited set of risk parameters **instantly** (without timelock) to mitigate immediate threats.

## Pool-Level Rules

These parameters define the global constraints for the Liquidity Pool. If a user disagrees with these terms, they must select a different pool.

### Pool parameter definitions

* **Total debt limit:** Maximum amount of underlying assets that can be borrowed across the entire pool.
* **Collateral limit:** Maximum amount of debt that can be backed by a specific collateral token (Quota Limit).
* **Main Price Feed:** Primary price source used for calculating account value and triggering liquidations.
* **Reserve Price Feed:** Secondary price source used to run safety checks on operations; can block Credit Account actions to protect LPs.
* **Increase Rate:** One-time fee charged whenever exposure to a collateral increases.
* **Collateral-specific rate:** Additional interest rate (APR) charged for borrowing against a specific collateral.
* **IRM:** The Utilization-based Interest Rate Model contract.
* **Loss Policy:** The logic executed when a liquidation results in bad debt.
* **Emergency liquidators whitelist:** Addresses authorized to liquidate accounts when the Credit Manager is paused (Default: Permissionless).
* **Loss liquidators whitelist:** Addresses authorized to execute liquidations that result in bad debt (Default: Permissionless).

### Pool permissions matrix

| Parameter                           | Admin (24h Delay) | Emergency Admin (Instant) |
| ----------------------------------- | :---------------: | ------------------------- |
| **Total debt limit**                |         ✅         | ⚠️ Reduce to zero-only    |
| **Collateral limit**                |         ✅         | ⚠️ Reduce to zero-only    |
| **Main Price Feed**                 |         ✅         | ⚠️ Limited choice         |
| **Loss Policy**                     |         ✅         | ⚠️ Can turn off           |
| **Loss liquidators whitelist**      |         ✅         | ⚠️ Can turn off           |
| **Emergency liquidators whitelist** |         ✅         | ⚠️ Can turn off           |
| **Reserve Price Feed**              |         ✅         | ❌                         |
| **Increase Rate**                   |         ✅         | ❌                         |
| **Collateral-specific rate**        |         ✅         | ❌                         |
| **IRM**                             |         ✅         | ❌                         |

## Credit Manager-Level Rules

These parameters define the strategy for a specific Credit Manager. If a user disagrees with these terms, they can choose another Credit Manager within the same pool.

### Credit Manager parameter definitions

* **Total debt limit:** Maximum aggregate debt of all Credit Accounts created from this Credit Manager.
* **MinDebt:** Minimum required debt to open a Credit Account.
* **MaxDebt:** Maximum permitted debt per Credit Account.
* **Liquidation Premium:** Percentage of collateral value paid to the liquidator as an incentive.
* **Liquidation Fee:** Percentage of collateral value paid to the Protocol (Curator & DAO).
* **Max Enabled Tokens:** Maximum number of collateral tokens a single account can enable simultaneously.
* **Interest Fee:** Percentage of borrowing interest captured as revenue (split between Curator & DAO).
* **Collateral's LT:** The Liquidation Threshold (Loan-to-Value ratio).
* **Collateral's forbidden status:** Controls whether a token is allowed or forbidden.
* **List of allowed adapters:** Restricts which external contracts (e.g., Uniswap, Curve) a Credit Account can interact with.
* **Expiration Policy:** Date after which the strategy winds down. After this date, all Credit Accounts become liquidatable regardless of Health Factor.

### Credit Manager permissions matrix

| Parameter                    | Admin (24h Delay) | Emergency Admin (Instant) |
| ---------------------------- | :---------------: | ------------------------- |
| **Total debt limit**         |         ✅         | ⚠️ Reduce to zero-only    |
| **List of allowed adapters** |         ✅         | ⚠️ Forbid-only            |
| **Collaterals list**         |         ✅         | ⚠️ Forbid-only            |
| **Liquidation Premium**      |         ✅         | ❌                         |
| **Liquidation Fee**          |         ✅         | ❌                         |
| **Collaterals' LT**          |         ✅         | ❌                         |
| **Expiration Policy**        |         ✅         | ❌                         |
| **MinDebt**                  |         ❌         | ❌                         |
| **MaxDebt**                  |         ❌         | ❌                         |
| **Max Enabled Tokens**       |         ❌         | ❌                         |
| **Interest Fee**             |         ❌         | ❌                         |