Admin

Complete API reference for Lotus admin functions covering ownership transfer, fee configuration, IRM/LLTV/liquidation module enablelists, and market hooks.

The Lotus protocol has a single admin address (owner) that controls global configuration and per-market settings. All admin functions revert with NotOwner if called by any address other than the current owner. Market creation is permissionless but gated by the enablelists the admin manages.

Ownership

owner()

Returns the current admin address.

• Parameters: none

• Returns: address

setOwner(address newOwner)

Transfers admin authority to a new address.

Parameter	Type	Description	Required
newOwner	address	Address of the new admin	Yes

• Reverts:

  • NotOwner — caller is not the current owner

  • OwnerAlreadySet(newOwner) — newOwner is already the current owner

• Events: OwnerSet(address indexed newOwner)

Fee Configuration

feeRecipient()

Returns the address that receives protocol fees via supply share inflation.

• Parameters: none

• Returns: address

setFeeRecipient(address newFeeRecipient)

Sets the protocol fee recipient address.

Parameter	Type	Description	Required
newFeeRecipient	address	Address to receive future fee shares	Yes

• Reverts:

  • NotOwner — caller is not the current owner

  • FeeRecipientAlreadySet(newFeeRecipient) — newFeeRecipient is already the current fee recipient

• Events: FeeRecipientSet(address indexed newFeeRecipient)

setFee(MarketParams memory marketParams, uint256 trancheIndex, uint128 newFee, bytes calldata irmData)

Sets the protocol fee fraction for a specific tranche. The function accrues interest for the entire market before applying the new fee so the change takes effect on up-to-date state.

Parameter	Type	Description	Required
marketParams	MarketParams	Market configuration identifying the target market	Yes
trancheIndex	uint256	Index of the tranche to update (0 = most senior)	Yes
newFee	uint128	New fee fraction in WAD (e.g., 0.10e18 = 10%)	Yes
irmData	bytes	Opaque data forwarded to the IRM during interest accrual	Yes (pass "" for default)

• Constraints: newFee <= MAX_FEE where MAX_FEE = 0.25e18 (25%)

• Reverts:

  • NotOwner — caller is not the current owner

  • MarketNotCreated(id) — market does not exist

  • InvalidTrancheIndex(trancheIndex) — tranche index out of range

  • FeeAlreadySet(id, trancheIndex, newFee) — fee is already set to this value

  • InvalidFee(newFee) — newFee exceeds MAX_FEE

• Events: FeeSet(Id indexed id, uint256 indexed trancheIndex, uint128 newFee)

Enablelists

Enablelists are one-way allowlists. Once an IRM, LLTV, or liquidation module is enabled, it cannot be disabled. Enablelists gate which components can be used when creating new markets.

enableIrm(address irm)

Enables an IRM implementation for use in future markets.

Parameter	Type	Description	Required
irm	address	Address of the IRM contract	Yes

• Reverts:

  • NotOwner — caller is not the current owner

  • IrmAlreadyEnabled(irm) — IRM is already enabled

• Events: IrmEnabled(address indexed irm)

enableLltv(uint256 lltv)

Enables an LLTV value for use in future market tranches.

Parameter	Type	Description	Required
lltv	uint256	LLTV value in WAD (1e18 = 100%)	Yes

• Constraints: 0 < lltv <= 1e18

• Reverts:

  • NotOwner — caller is not the current owner

  • LltvAlreadyEnabled(lltv) — LLTV is already enabled

  • InvalidLltv(lltv) — value is zero or exceeds WAD

• Events: LltvEnabled(uint256 indexed lltv)

enableLiquidationModule(address liquidationModule)

Enables a liquidation module implementation for use in future markets.

Parameter	Type	Description	Required
liquidationModule	address	Address of the liquidation module contract	Yes

• Reverts:

  • NotOwner — caller is not the current owner

  • ZeroAddress — liquidationModule is the zero address

  • LiquidationModuleAlreadyEnabled(liquidationModule) — module is already enabled

• Events: LiquidationModuleEnabled(address indexed module)

Market Creation

createMarket(MarketParams memory newMarketParams, bytes calldata irmParams, bytes calldata liquidationParams)

Creates a new market with the given parameters. Market creation is permissionless — any address can call this function, but all components must be pre-approved via the enablelists. The function initializes the IRM and liquidation module for the new market and assigns a deterministic market ID.

Parameter	Type	Description	Required
newMarketParams	MarketParams	Market configuration (see struct below)	Yes
irmParams	bytes	Encoded initialization parameters for the IRM	Yes
liquidationParams	bytes	Encoded initialization parameters for the liquidation module	Yes

MarketParams struct:

Field	Type	Description
loanToken	address	ERC-20 loan token for the market
irm	address	IRM contract (must be enabled)
liquidationModule	address	Liquidation module contract (must be enabled, non-zero)
collateralTokens	address[]	One collateral token per tranche
oracles	address[]	One oracle per tranche
lltvs	uint128[]	One LLTV per tranche (all must be enabled)

Array lengths define the number of tranches. All three arrays must be the same length and non-empty.

• Validation:

  1. IRM must be enabled via enableIrm

  2. Market must not already exist (same MarketParams hash)

  3. Liquidation module must not be the zero address

  4. Liquidation module must be enabled via enableLiquidationModule

  5. All arrays must be non-empty and the same length

  6. Every LLTV value must be enabled via enableLltv

• Reverts:

  • IrmNotEnabled(irm) — IRM not in enablelist

  • MarketAlreadyExists(id) — market with identical parameters exists

  • ZeroAddress — liquidation module is address(0)

  • LiquidationModuleNotEnabled(liquidationModule) — module not in enablelist

  • InconsistentInput — arrays are empty or different lengths

  • LltvNotEnabled(lltv) — an LLTV value is not in the enablelist

• Events: MarketCreated(Id indexed id, MarketParams marketParams)

• Side effects: Calls IIrm(irm).initialize(id, irmParams) and ILiquidationModule(liquidationModule).initializeMarket(id, liquidationParams)

Market Hooks

setMarketHook(MarketParams memory marketParams, address hook, uint256 permissions)

Configures a hook for an existing market. Hooks execute custom logic after core operations and can approve or reject transactions by returning their selector or reverting.

Parameter	Type	Description	Required
marketParams	MarketParams	Market configuration identifying the target market	Yes
hook	address	Hook contract address, or address(0) to remove the hook	Yes
permissions	uint256	Bitmask of hook permission flags	Yes

Permission flags (from Hooks.sol):

Flag	Value	Triggers After
AFTER_SUPPLY_FLAG	1 << 0 (1)	supply()
AFTER_BORROW_FLAG	1 << 1 (2)	borrow()
AFTER_SUPPLY_COLLATERAL_FLAG	1 << 2 (4)	supplyCollateral()
AFTER_WITHDRAW_FLAG	1 << 3 (8)	withdraw()
AFTER_WITHDRAW_COLLATERAL_FLAG	1 << 4 (16)	withdrawCollateral()

Combine flags with bitwise OR. For example, to hook supply and borrow: permissions = 1 | 2 (= 3).

• Validation: If hook is not address(0), it must be a deployed contract (have code). Setting hook to address(0) disables all hooks for the market regardless of the permissions value.

• Reverts:

  • NotOwner — caller is not the current owner

  • MarketNotCreated(id) — market does not exist

  • InvalidHook(hook) — hook is non-zero but has no deployed code

• Events: MarketHookSet(Id indexed id, address indexed hook, uint256 permissions)

Admin View Functions

isIrmEnabled(address irm)

Returns true if the IRM address is in the enablelist.

• Parameters: irm (address)

• Returns: bool

isLltvEnabled(uint256 lltv)

Returns true if the LLTV value is in the enablelist.

• Parameters: lltv (uint256)

• Returns: bool

isLiquidationModuleEnabled(address liquidationModule)

Returns true if the liquidation module address is in the enablelist.

• Parameters: liquidationModule (address)

• Returns: bool

getMarketHookConfig(Id id)

Returns the hook configuration for a market.

Parameter	Type	Description	Required
id	Id	Market ID	Yes

• Returns:

  • hook (address) — hook contract address, or address(0) if no hook is set

  • permissions (uint256) — permissions bitmask

See Also

• Contract API

• Authorization

• Oracles

• Learn → Admin