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Overview

DefaultAccountFactoryV3 is a factory contract that manages credit account deployment and reuse. It uses OpenZeppelin’s clones pattern for efficient account creation and maintains separate queues for each credit manager to enable account reuse after a safety delay. Contract Type: ACCOUNT_FACTORY::DEFAULT Version: 3.10 Source: DefaultAccountFactoryV3.sol

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Key Features

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Efficient Deployment

Uses the clones proxy pattern to deploy credit accounts at minimal gas cost. Each credit manager has a master credit account that is cloned when new accounts are needed.

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Account Reusability

Accounts returned to the factory are queued for reuse after a 3-day delay. This design:
  • Reduces deployment costs when accounts are available in the queue
  • Allows DAO to rescue funds accidentally left in accounts
  • Protects against attacks involving immediate account reopening

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Per-Manager Queues

Each credit manager has its own queue of reusable accounts, ensuring accounts are only reused by their originating credit manager.

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Constants

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delay

uint40 public constant delay = 3 days
The delay period (3 days) after which returned credit accounts become reusable.

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Core Functions

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takeCreditAccount

function takeCreditAccount(uint256, uint256) external returns (address creditAccount)
Provides a credit account to the calling credit manager. Returns a reusable account from the queue if available, otherwise deploys a new one.
The function parameters are ignored and kept only for backward compatibility.
Returns: Address of the provided credit account Reverts: CallerNotCreditManagerException if caller is not a registered credit manager Access: Only callable by registered credit managers Flow:
  1. Checks if caller is a registered credit manager
  2. If queue is empty or first account is not yet reusable, deploys new account by cloning master
  3. Otherwise, returns first reusable account from queue and advances queue head
Emits:
  • DeployCreditAccount (if new account is deployed)
  • TakeCreditAccount
Example: 
// Called by credit manager when opening a new position
address account = factory.takeCreditAccount(0, 0);

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returnCreditAccount

function returnCreditAccount(address creditAccount) external
Returns a used credit account to the queue. The account becomes reusable after the delay period.
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creditAccount
address
Address of the credit account being returned
Access: Only callable by registered credit managers Expects:
  • Credit account is connected to the calling credit manager
  • Credit manager has set the account’s borrower to zero-address
Emits: ReturnCreditAccount Example: 
// Called by credit manager when closing a position
factory.returnCreditAccount(creditAccount);

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Configuration Functions

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addCreditManager

function addCreditManager(address creditManager) external
Registers a new credit manager with the factory and deploys its master credit account.
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creditManager
address
Address of the credit manager to add
Access: No explicit access control (relies on credit manager validation) Reverts: MasterCreditAccountAlreadyDeployedException if credit manager is already registered Emits: AddCreditManager(creditManager, masterCreditAccount) Flow:
  1. Checks that credit manager is not already registered
  2. Deploys new master credit account for the credit manager
  3. Stores master account address in factory params
Example: 
// Register new credit manager
factory.addCreditManager(newCreditManager);

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rescue

function rescue(
    address creditAccount,
    address target,
    bytes calldata data
) external
Executes a function call from a credit account to rescue funds accidentally left after closure.
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creditAccount
address
Credit account to execute the call from
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target
address
Contract to call
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data
bytes
Calldata for the target contract
Access: Only callable by owner (Instance Manager) Reverts: CreditAccountIsInUseException if the account has a non-zero borrower Emits: Rescue(creditAccount, target, data)
This function can only be called on accounts that are not currently in use (borrower is zero-address).
Example: 
// Rescue USDC accidentally left in account
bytes memory transferData = abi.encodeWithSignature(
    "transfer(address,uint256)",
    recipient,
    amount
);
factory.rescue(creditAccount, usdcAddress, transferData);

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View Functions

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serialize

function serialize() external view returns (bytes memory)
Returns empty bytes. This function exists for interface compatibility but the factory has no state to serialize.

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Internal Structures

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FactoryParams

struct FactoryParams {
    address masterCreditAccount;  // Master account to clone
    uint40 head;                  // Next account index to take
    uint40 tail;                  // Last returned account index
}
Stores factory and queue parameters for each credit manager.

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QueuedAccount

struct QueuedAccount {
    address creditAccount;  // Account address
    uint40 reusableAfter;   // Timestamp when account becomes reusable
}
Stores queued account information including when it can be reused.

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Queue Management

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How the Queue Works

The factory maintains a circular buffer (queue) for each credit manager:
  1. Taking an account:
    • Check if head == tail (queue empty)
    • Check if account at head is reusable (block.timestamp >= reusableAfter)
    • If queue empty or not reusable: deploy new account
    • Otherwise: return account at head and increment head
  2. Returning an account:
    • Add account to position tail with reusableAfter = block.timestamp + 3 days
    • Increment tail

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Queue State Diagram

Empty Queue: head == tail
┌─────────────┐
│  head/tail  │
└─────────────┘

Queue with accounts:
┌────┬────┬────┬────┬────┐
│ A₁ │ A₂ │ A₃ │    │    │
└────┴────┴────┴────┴────┘
  ↑              ↑
 head          tail

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Events

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DeployCreditAccount

event DeployCreditAccount(
    address indexed creditAccount,
    address indexed creditManager
)
Emitted when a new credit account is deployed.

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TakeCreditAccount

event TakeCreditAccount(
    address indexed creditAccount,
    address indexed creditManager
)
Emitted when a credit account is taken by a credit manager.

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ReturnCreditAccount

event ReturnCreditAccount(
    address indexed creditAccount,
    address indexed creditManager
)
Emitted when a used credit account is returned to the queue.

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AddCreditManager

event AddCreditManager(
    address indexed creditManager,
    address masterCreditAccount
)
Emitted when a new credit manager is added to the factory.

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Rescue

event Rescue(
    address indexed creditAccount,
    address indexed target,
    bytes data
)
Emitted when the DAO performs a rescue call from a credit account.

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Access Control

The factory is owned by the Instance Manager Proxy, which is set during construction. The owner can:
  • Execute rescue calls on idle credit accounts

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Usage Example

// 1. Register a new credit manager
factory.addCreditManager(creditManagerAddress);

// 2. Credit manager takes an account when opening a position
address account = IDefaultAccountFactoryV3(factory).takeCreditAccount(0, 0);

// 3. Credit manager returns the account when closing a position
IDefaultAccountFactoryV3(factory).returnCreditAccount(account);

// 4. After 3 days, the account can be reused for a new position
// On next takeCreditAccount call, the same account will be returned
// instead of deploying a new one

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