Fund Facet

A brief description of the Fund facet

Facet description

The Fund Facet serves as the primary controller of everything related to the fund. It takes on multifaceted responsibilities, including the management of cycle funds, acceptance of payments, control of the money pot, and overseeing the smooth operation of the savings cycle.

Key features

1. Cycle Completion and Term End: Automating the recognition of completed savings cycles, the Fund Facet initiates the seamless distribution of the money pot to the beneficiary. Additionally, it oversees the conclusion of the term once all cycles have finalized.

2. Payment Acceptance: This facet is the gateway for accepting participant payments during each cycle. It verifies and records incoming contributions, adding them to the cycle's fund.

3. Money Pot Control: The Fund Facet retains its pivotal role in controlling the money pot. It dictates when and how the money pot is distributed to the designated beneficiary of each cycle, guaranteeing fairness and adherence to established rules.

Use cases

• Efficient Cycle Management: The Fund Facet streamlines the management of savings cycles, automating processes related to cycle initiation, progress tracking, and completion. It ensures the scheme's overall efficiency and accuracy.

• Secure Payment Processing: Serving as the central payment hub, this facet verifies participant payments, writes payment records, and facilitates the secure processing of contributions. It guarantees that participant payments are processed properly.

• Fair and Controlled Money Pot Distribution: This facet's control over the money pot ensures a fair and orderly distribution process. It dictates when the money pot is awarded to the cycle's beneficiary, following established rules and promoting transparency.

Function signatures

You can find the function signatures of this facet below.

Fund Facet Functions