Credit Manager

The CreditManagerV3 is the core accounting engine of the Gearbox Protocol. It manages Credit Account lifecycle, tracks debt and collateral, calculates health factors, and enforces risk parameters. All Credit Account state is stored and managed through this contract.

Core Data Structures

CreditAccountInfo

Every Credit Account's state is tracked in a CreditAccountInfo struct:

Collateral Calculation Modes

Write Methods

openCreditAccount

Opens a new Credit Account for a borrower.

function openCreditAccount(address onBehalfOf) external returns (address creditAccount);

Returns: Address of the newly created Credit Account.

Access: CreditFacade only.

closeCreditAccount

Closes a Credit Account and settles all debt.

function closeCreditAccount(address creditAccount) external;

Access: CreditFacade only. Repays pool debt and returns remaining assets to the borrower.

liquidateCreditAccount

Liquidates an unhealthy Credit Account.

function liquidateCreditAccount(
    address creditAccount,
    uint256 collateralDebtData,
    address to
) external;

Access: CreditFacade only. Settles debt with pool, reports profit/loss, and distributes remaining collateral.

manageDebt

Increases or decreases the debt of a Credit Account.

function manageDebt(
    address creditAccount,
    uint256 amount,
    uint256 enabledTokensMask,
    ManageDebtAction action
) external returns (uint256 newDebt, uint256 tokensToEnable, uint256 tokensToDisable);

Returns: New debt amount and token mask changes.

Access: CreditFacade only. Flash-loan protection prevents multiple debt changes in the same block.

addCollateral

Adds collateral tokens to a Credit Account.

function addCollateral(
    address payer,
    address creditAccount,
    address token,
    uint256 amount
) external returns (uint256 tokensToEnable);

Returns: Token mask to enable.

Access: CreditFacade only.

withdrawCollateral

Withdraws collateral tokens from a Credit Account.

function withdrawCollateral(
    address creditAccount,
    address token,
    uint256 amount,
    address to
) external returns (uint256 tokensToDisable);

Returns: Token mask to disable (if balance reaches zero).

Access: CreditFacade only.

setActiveCreditAccount

Sets the active Credit Account for adapter execution during multicalls.

function setActiveCreditAccount(address creditAccount) external;

Access: CreditFacade only.

execute

Executes an external call from a Credit Account through a whitelisted adapter.

function execute(bytes calldata data) external returns (bytes memory);

Returns: Return data from the adapter call.

Access: Credit Account (via adapter) only.

fullCollateralCheck

Performs a full collateral check on a Credit Account after operations.

function fullCollateralCheck(
    address creditAccount,
    uint256 enabledTokensMask,
    uint256[] calldata collateralHints,
    uint16 minHealthFactor,
    bool useSafePrices
) external;

Access: CreditFacade only. Reverts if health factor is below minimum.

View Methods

calcDebtAndCollateral

Calculates debt, interest, and collateral values for a Credit Account.

function calcDebtAndCollateral(
    address creditAccount,
    CollateralCalcTask task
) external view returns (CollateralDebtData memory);

Returns: CollateralDebtData struct with debt, accruedInterest, accruedFees, totalDebtUSD, totalValue, twvUSD, enabledTokensMask.

creditAccountInfo

Returns the full state struct for a Credit Account.

function creditAccountInfo(address creditAccount)
    external view returns (CreditAccountInfo memory);

enabledTokensMaskOf

Returns the bitmask of enabled collateral tokens for an account.

function enabledTokensMaskOf(address creditAccount) external view returns (uint256);

flagsOf

Returns the flags for a Credit Account.

function flagsOf(address creditAccount) external view returns (uint16);

getBorrowerOrRevert

Returns the borrower address of a Credit Account, reverting if not found.

function getBorrowerOrRevert(address creditAccount) external view returns (address);

getTokenMaskOrRevert

Returns the bitmask for a given token address, reverting if not registered.

function getTokenMaskOrRevert(address token) external view returns (uint256);

getTokenByMask

Returns the token address for a given bitmask.

function getTokenByMask(uint256 tokenMask) external view returns (address);

collateralTokenByMask

Returns collateral token data including liquidation threshold parameters.

function collateralTokenByMask(uint256 tokenMask)
    external view returns (address token, uint16 ltInitial, uint16 ltFinal, uint40 timestampRampStart, uint24 rampDuration);

forbiddenTokenMask

Returns the bitmask of forbidden tokens.

function forbiddenTokenMask() external view returns (uint256);

contractToAdapter / adapterToContract

Returns the adapter for a target contract, or vice versa.

function contractToAdapter(address targetContract) external view returns (address);
function adapterToContract(address adapter) external view returns (address);

adapters

Returns all registered adapter addresses.

function adapters() external view returns (address[] memory);

creditFacade / creditConfigurator / pool / underlying

Returns addresses of associated contracts.

function creditFacade() external view returns (address);
function creditConfigurator() external view returns (address);
function pool() external view returns (address);
function underlying() external view returns (address);

Events

OpenCreditAccount

event OpenCreditAccount(address indexed creditAccount, address indexed onBehalfOf);

Emitted when a new Credit Account is opened.

CloseCreditAccount

event CloseCreditAccount(address indexed creditAccount, address indexed borrower);

Emitted when a Credit Account is closed.

LiquidateCreditAccount

event LiquidateCreditAccount(
    address indexed creditAccount,
    address indexed liquidator,
    address to,
    uint256 remainingFunds
);

Emitted when a Credit Account is liquidated.

ManageDebt

event ManageDebt(address indexed creditAccount, uint256 amount, ManageDebtAction action);

Emitted when debt is increased or decreased.

AddCollateral

event AddCollateral(address indexed creditAccount, address indexed token, uint256 amount);

Emitted when collateral is added to an account.

WithdrawCollateral

event WithdrawCollateral(address indexed creditAccount, address indexed token, uint256 amount, address to);

Emitted when collateral is withdrawn from an account.

Related Pages

• Credit Facade -- User-facing interface for Credit Account operations
• Credit Configurator -- Administrative parameter management
• Pool (PoolV3) -- Liquidity pool that Credit Manager borrows from
• Smart Contracts Overview -- Full contract architecture