# 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.\
     \ <img src="https://3211129980-files.gitbook.io/~/files/v0/b/gitbook-x-prod.appspot.com/o/spaces%2F6BEnRwvgK3mDfFsQxOzA%2Fuploads%2FvcmNrt0kW0EsgKLxUswz%2FScreenshot%202025-05-22%20at%201.42.10%E2%80%AFPM.png?alt=media&#x26;token=a1f94d71-4c66-4153-b87f-5015ddc50700" alt="" data-size="original">

   <br>