User Flow for managers
User flow for managers is simple as 'buy longZCB if bullish on an instrument'
In the underwrite page you can see all proposed or approved instruments. Let us go to the !ApprovedPool instrument and try seeing if it's something worth approving. This is a conditional lending pool instrument, meaning I have to decide whether the proposed lendingpool will stay solvent, and buy longZCB if I believe so.
Buying longZCB
On this page you can see all the information about the instrument. You can see which collateral the proposed lendingpool will accept, CASH1, and the amount that can be borrowed per unit CASH1. The senior returns is set as 20%, which means I as a longZCB buyer will incur less yield than the seniors if the pool generates less than 20% yield.
If you click the ZCB info page you can see more information on the longZCB, and you can also simulate returns/loss longZCB will generate based on the utilization rate and my selected leverage multiplier. On the right you have the trading form where you can buy longZCB(also with leverage).
Buying longZCB with leverage is akin to buying it with margin, where the manager's max leverage is proportional to his reputation score. More info here. When buying with leverage, you will be given an NFT that tokenizes your levered position.
Essentially, buying longZCB means you are bullish on this lending pool, and believe it would stay solvent and accrue yield.
Using the UI you can simulate the amount of returns your longZCB position will accrue if the pool stays solvent(which depends on its utilization rate).
Redeeming longZCB
To realize profits, you can later redeem your longZCB, shortZCB or leveraged longZCB positions for approved instruments, in the user positions section. Click the redeem button and a pop-up screen will allow you to specify how much you want to redeem back to WETH.
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