Pool Lifecycle

1. CapitalFormation

   • The pool begins in this state.

   • If enough capital is raised → transition to Pending.

   • If the goal is not met → transition to Revoked (pool fails).

2. Pending

   • Waits for the borrower to draw down the loan.

   • On loan drawdown → move to Active.

3. Active

   • Loan is now issued.

   • As borrower begins repayment:

     • If only a portion is repaid → transition to PartialRedeem.

     • If fully repaid at once → transition directly to Redeem.

4. PartialRedeem

   • A portion of the repayment has been made.

   • Investors can redeem partially.

   • When full repayment is completed → move to Redeem.

5. Redeem

   • Loan is fully repaid.

   • Full redemption is now available for investors.

   • Once redemptions are finalized → transition to Ended.

6. Ended

   • Pool has concluded operations.

   • No further transitions.

7. Revoked

   • Terminal state if capital formation fails.

   • No borrowing or investor actions proceed.