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3 Agent States
Your Agent smart contract can be in one of 3 states:
- 1.Good standing - the Agent is operating responsibly, and is not overdue on any payments or being excessively slashed for more than 2 consecutive days in a row.
- 2.On Administration - the Agent’s actions are temporarily restricted to limit risky activities like borrowing or withdrawing FIL. In addition to these restrictions, a protocol-owned administrator will have the ability to make payments for the Agent to lower their position within the pools. If the Agent gets back in good standing, it will be taken off administration.
- 3.In Default - the Agent is acting maliciously or is simply unable to pay back their position given their own financial situation. This Agent and all of its assets will be liquidated and paid back to the pools. Going into default is an irreversible state transition.
Note that moving an Agent from "good standing" to either administration and/or default is currently done manually by the GLIF team to avoid potentially dangerous automation errors. Once it's stable and safe enough to do so, this process will be decentralized and automated.