@etherisc/gif-next 0.0.2-78e428e-483 → 0.0.2-79292f9-089

package/contracts/pool/IPoolService.sol

@@ -17,7 +17,7 @@ import {UFixed} from "../type/UFixed.sol";
 
 interface IPoolService is IService {
 
-    event LogPoolServiceMaxCapitalAmountUpdated(NftId poolNftId, Amount previousMaxCapitalAmount, Amount currentMaxCapitalAmount);
+    event LogPoolServiceMaxBalanceAmountUpdated(NftId poolNftId, Amount previousMaxCapitalAmount, Amount currentMaxCapitalAmount);
     event LogPoolServiceBundleOwnerRoleSet(NftId poolNftId, RoleId bundleOwnerRole);
 
     event LogPoolServiceBundleCreated(NftId instanceNftId, NftId poolNftId, NftId bundleNftId);
@@ -29,16 +29,14 @@ interface IPoolService is IService {
     error ErrorPoolServiceBundleOwnerRoleAlreadySet(NftId poolNftId);
     error ErrorPoolServiceInvalidTransferAmount(Amount expectedAmount, Amount actualAmount);
     error ErrorPoolServiceBundlePoolMismatch(NftId bundleNftId, NftId poolNftId);
-    error ErrorPoolServiceMaxCapitalAmountExceeded(NftId poolNftId, Amount maxCapitalAmount, Amount capitalAmount, Amount amountToBeAdded);
-    error ErrorPoolServiceWalletAllowanceTooSmall(address wallet, address spender, uint256 allowance, uint256 amount);
-    error ErrorPoolServiceAmountIsZero();
-
+    error ErrorPoolServiceMaxBalanceAmountExceeded(NftId poolNftId, Amount maxBalanceAmount, Amount currentBalanceAmount, Amount transferAmount);
+    
     /// @dev defines the required role for bundle owners for the calling pool
     /// default implementation returns PUBLIC ROLE
     function setBundleOwnerRole(RoleId bundleOwnerRole) external;
 
-    /// @dev sets the max capital amount for the calling pool
-    function setMaxCapitalAmount(Amount maxCapitalAmount) external;
+    /// @dev sets the max balance amount for the calling pool
+    function setMaxBalanceAmount(Amount maxBalanceAmount) external;
 
     /// @dev locks required collateral to cover the specified application (and turn it into a policy)
     /// - retention level == 1: the full collateral amount will be locked by the specified bundle
@@ -97,6 +95,18 @@ interface IPoolService is IService {
         returns(NftId bundleNftId, Amount netStakedAmount); // the nft id of the newly created bundle
 
 
+    /// @dev increase stakes for bundle
+    /// staking fees will be deducted by the pool service from the staking amount
+    /// may only be called by registered and unlocked pool components
+    function stake(NftId bundleNftId, Amount amount) external returns(Amount netAmount);
+
+
+    /// @dev decrease stakes for bundle
+    /// performance fees will be deducted by the pool service from the staking amount
+    /// may only be called by registered and unlocked pool components
+    function unstake(NftId bundleNftId, Amount amount) external returns(Amount netAmount);
+
+
     /// @dev closes the specified bundle
     /// only open bundles (active or locked) may be closed
     /// to close a bundle it may not have any non-closed polices attached to it
@@ -105,18 +115,22 @@ interface IPoolService is IService {
     function closeBundle(NftId bundleNftId) external;
 
 
-    /// @dev processes the sale of a bundle and track the pool fee and bundle fee amounts
-    function processSale(NftId bundleNftId, IPolicy.Premium memory premium) external;
+    /// @dev Fund the specified pool wallet with the provided amount.
+    /// This function will collect the amount from the sender address and transfers it to the pool wallet.
+    /// The function will not update balance amounts managed by the framework.
+    /// Only available for externally managed pools.
+    function fundPoolWallet(NftId poolNftId, Amount amount) external;
 
-    /// @dev increase stakes for bundle
-    /// staking fees will be deducted by the pool service from the staking amount
-    /// may only be called by registered and unlocked pool components
-    function stake(NftId bundleNftId, Amount amount) external returns(Amount netAmount);
 
-    /// @dev decrease stakes for bundle
-    /// performance fees will be deducted by the pool service from the staking amount
-    /// may only be called by registered and unlocked pool components
-    function unstake(NftId bundleNftId, Amount amount) external returns(Amount netAmount);
+    /// @dev Defund the specified pool wallet with the provided amount.
+    /// This function will transfer the amount from the pool wallet to the sender address.
+    /// The function will not update balance amounts managed by the framework.
+    /// Only available for externally managed pools.
+    function defundPoolWallet(NftId poolNftId, Amount amount) external;
+
+
+    /// @dev processes the sale of a bundle and track the pool fee and bundle fee amounts
+    function processSale(NftId bundleNftId, IPolicy.Premium memory premium) external;
 
 
     /// @dev calulate required collateral for the provided parameters

package/contracts/pool/Pool.sol

@@ -113,15 +113,15 @@ abstract contract Pool is
         view 
         returns (IComponents.PoolInfo memory poolInfo)
     {
-        return IComponents.PoolInfo(
-            PUBLIC_ROLE(), // bundleOwnerRole
-            AmountLib.max(), // maxCapitalAmount,
-            isNftInterceptor(), // isInterceptingBundleTransfers
-            false, // isExternallyManaged,
-            false, // isVerifyingApplications,
-            UFixedLib.toUFixed(1), // collateralizationLevel,
-            UFixedLib.toUFixed(1) // retentionLevel,
-        );
+        return IComponents.PoolInfo({
+            maxBalanceAmount: AmountLib.max(),
+            bundleOwnerRole: PUBLIC_ROLE(), 
+            isInterceptingBundleTransfers: isNftInterceptor(),
+            isExternallyManaged: false,
+            isVerifyingApplications: false,
+            collateralizationLevel: UFixedLib.toUFixed(1),
+            retentionLevel: UFixedLib.toUFixed(1)
+        });
     }
 
     // Internals
@@ -251,13 +251,13 @@ abstract contract Pool is
     }
 
 
-    /// @dev Sets the maximum overall capital amound held by this pool.
+    /// @dev Sets the maximum balance amound held by this pool.
     /// Function may only be called by pool owner.
-    function _setMaxCapitalAmount(Amount maxCapitalAmount)
+    function _setMaxBalanceAmount(Amount maxBalanceAmount)
         internal
         virtual
     {
-        _getPoolStorage()._poolService.setMaxCapitalAmount(maxCapitalAmount);
+        _getPoolStorage()._poolService.setMaxBalanceAmount(maxBalanceAmount);
     }
 
     /// @dev Sets the required role to create/own bundles.

package/contracts/pool/PoolService.sol

@@ -1,8 +1,6 @@
 // SPDX-License-Identifier: Apache-2.0
 pragma solidity ^0.8.20;
 
-import {IERC20Metadata} from "@openzeppelin/contracts/token/ERC20/extensions/IERC20Metadata.sol";
-
 import {IBundle} from "../instance/module/IBundle.sol";
 import {IBundleService} from "./IBundleService.sol";
 import {IComponents} from "../instance/module/IComponents.sol";
@@ -47,8 +45,8 @@ contract PoolService is
         bytes memory data
     )
         internal
-        initializer
         virtual override
+        onlyInitializing()
     {
         (
             address registryAddress,, 
@@ -68,24 +66,20 @@ contract PoolService is
         registerInterface(type(IPoolService).interfaceId);
     }
 
-
-    function setMaxCapitalAmount(Amount maxCapitalAmount)
+    /// @inheritdoc IPoolService
+    function setMaxBalanceAmount(Amount maxBalanceAmount)
         external
         virtual
     {
-        /*
         (NftId poolNftId,, IInstance instance) = _getAndVerifyActiveComponent(POOL());
         InstanceReader instanceReader = instance.getInstanceReader();
+        IComponents.PoolInfo memory poolInfo = instanceReader.getPoolInfo(poolNftId);
 
-        IComponents.ComponentInfo memory componentInfo = instanceReader.getComponentInfo(poolNftId);
-        IComponents.PoolInfo memory poolInfo = abi.decode(componentInfo.data, (IComponents.PoolInfo));
-        Amount previousMaxCapitalAmount = poolInfo.maxCapitalAmount;
-
-        poolInfo.maxCapitalAmount = maxCapitalAmount;
+        Amount previousMaxBalanceAmount = poolInfo.maxBalanceAmount;
+        poolInfo.maxBalanceAmount = maxBalanceAmount;
         instance.getInstanceStore().updatePool(poolNftId, poolInfo, KEEP_STATE());
 
-        emit LogPoolServiceMaxCapitalAmountUpdated(poolNftId, previousMaxCapitalAmount, maxCapitalAmount);
-        */
+        emit LogPoolServiceMaxBalanceAmountUpdated(poolNftId, previousMaxBalanceAmount, maxBalanceAmount);
     }
 
     function setBundleOwnerRole(RoleId bundleOwnerRole)
@@ -122,13 +116,22 @@ contract PoolService is
         returns(NftId bundleNftId, Amount netStakedAmount)
     {
         (NftId poolNftId,, IInstance instance) = _getAndVerifyActiveComponent(POOL());
-        
+
+        {
+            InstanceReader instanceReader = instance.getInstanceReader();
+            IComponents.PoolInfo memory poolInfo = instanceReader.getPoolInfo(poolNftId);
+            Amount currentPoolBalance = instanceReader.getBalanceAmount(poolNftId);
+            if (currentPoolBalance + stakingAmount > poolInfo.maxBalanceAmount) {
+                revert ErrorPoolServiceMaxBalanceAmountExceeded(poolNftId, poolInfo.maxBalanceAmount, currentPoolBalance, stakingAmount);
+            }
+        }
+
+
         Amount stakingFeeAmount;
         (stakingFeeAmount, netStakedAmount) = FeeLib.calculateFee(
             _getStakingFee(instance.getInstanceReader(), poolNftId), 
             stakingAmount);
 
-        // TODO: (staking amount + existing pool balance) must be be > maxCapitalAmount
 
         bundleNftId = _bundleService.create(
             instance,
@@ -146,6 +149,7 @@ contract PoolService is
             netStakedAmount, 
             stakingFeeAmount);
 
+        // TODO only collect staking token when pool is not externally managed 
         // pool bookkeeping and collect tokens from bundle owner
         _collectStakingAmount(
             instance.getInstanceReader(), 
@@ -187,24 +191,10 @@ contract PoolService is
 
         if ((unstakedAmount + feeAmount).gtz()){
             IComponents.ComponentInfo memory poolComponentInfo = instance.getInstanceReader().getComponentInfo(poolNftId);
-            TokenHandler tokenHandler = poolComponentInfo.tokenHandler;
-            IERC20Metadata token = IERC20Metadata(poolComponentInfo.token);
-
-            // TODO: centralize token handling (issue #471)
-            
-            // check allowance
-            uint256 tokenAllowance = token.allowance(poolComponentInfo.wallet, address(tokenHandler));
-            if (tokenAllowance < (unstakedAmount.toInt() +  feeAmount.toInt())) {
-                revert ErrorPoolServiceWalletAllowanceTooSmall(
-                    poolComponentInfo.wallet, 
-                    address(tokenHandler), 
-                    tokenAllowance, 
-                    unstakedAmount.toInt() + feeAmount.toInt());
-            }
-
-            // transfer amount to bundle owner
-            address bundleOwner = getRegistry().ownerOf(bundleNftId);
-            tokenHandler.transfer(poolComponentInfo.wallet, bundleOwner, unstakedAmount + feeAmount);
+            poolComponentInfo.tokenHandler.distributeTokens(
+                poolComponentInfo.wallet, 
+                getRegistry().ownerOf(bundleNftId), 
+                unstakedAmount + feeAmount);
         }
     }
 
@@ -224,15 +214,18 @@ contract PoolService is
             revert ErrorPoolServiceBundlePoolMismatch(bundleNftId, poolNftId);
         }
 
-        Amount currentPoolBalance = instanceReader.getBalanceAmount(poolNftId);
-        if (amount + currentPoolBalance > poolInfo.maxCapitalAmount) {
-            revert ErrorPoolServiceMaxCapitalAmountExceeded(poolNftId, poolInfo.maxCapitalAmount, currentPoolBalance, amount);
+        {
+            Amount currentPoolBalance = instanceReader.getBalanceAmount(poolNftId);
+            if (currentPoolBalance + amount > poolInfo.maxBalanceAmount) {
+                revert ErrorPoolServiceMaxBalanceAmountExceeded(poolNftId, poolInfo.maxBalanceAmount, currentPoolBalance, amount);
+            }
         }
 
         // calculate fees
+        Amount feeAmount;
         (
-            Amount feeAmount,
-            Amount netAmount
+            feeAmount,
+            netAmount
         ) = FeeLib.calculateFee(
             _getStakingFee(instanceReader, poolNftId), 
             amount);
@@ -248,13 +241,14 @@ contract PoolService is
 
         // collect tokens from bundle owner
         address bundleOwner = getRegistry().ownerOf(bundleNftId);
+        emit LogPoolServiceBundleStaked(instance.getNftId(), poolNftId, bundleNftId, amount, netAmount);
+
+        // TODO only collect staking token when pool is not externally managed 
         _collectStakingAmount(
             instanceReader, 
             poolNftId, 
             bundleOwner, 
             amount);
-
-        emit LogPoolServiceBundleStaked(instance.getNftId(), poolNftId, bundleNftId, amount, netAmount);
     }
 
     /// @inheritdoc IPoolService
@@ -273,10 +267,6 @@ contract PoolService is
             revert ErrorPoolServiceBundlePoolMismatch(bundleNftId, poolNftId);
         }
 
-        if (amount.eqz()) {
-            revert ErrorPoolServiceAmountIsZero();
-        }
-
         // call bundle service for bookkeeping and additional checks
         Amount unstakedAmount = _bundleService.unstake(instance, bundleNftId, amount);
 
@@ -294,26 +284,36 @@ contract PoolService is
 
         IComponents.ComponentInfo memory poolComponentInfo = instanceReader.getComponentInfo(poolNftId);
         address poolWallet = poolComponentInfo.wallet;
-
-        // check allowance
-        {
-            IERC20Metadata token = IERC20Metadata(poolComponentInfo.token);
-            uint256 tokenAllowance = token.allowance(poolWallet, address(poolComponentInfo.tokenHandler));
-            if (tokenAllowance < unstakedAmount.toInt()) {
-                revert ErrorPoolServiceWalletAllowanceTooSmall(poolWallet, address(poolComponentInfo.tokenHandler), tokenAllowance, amount.toInt());
-            }
-        }
-
         // transfer amount to bundle owner
         address owner = getRegistry().ownerOf(bundleNftId);
-        // TODO: centralize token handling (issue #471)
-        poolComponentInfo.tokenHandler.transfer(poolWallet, owner, unstakedAmount);
-        
         emit LogPoolServiceBundleUnstaked(instance.getNftId(), poolNftId, bundleNftId, unstakedAmount);
-
+        poolComponentInfo.tokenHandler.distributeTokens(
+            poolWallet, 
+            owner, 
+            unstakedAmount);
         return unstakedAmount;
     }
 
+
+    function fundPoolWallet(NftId poolNftId, Amount amount)
+        external
+        virtual
+        restricted()
+    {
+        // TODO check that poolNftId is externally managed
+        // TODO implement
+    }
+
+
+    function defundPoolWallet(NftId poolNftId, Amount amount)
+        external
+        virtual
+        restricted()
+    {
+        // TODO check that poolNftId is externally managed
+        // TODO implement
+    }
+
     function processSale(
         NftId bundleNftId, 
         IPolicy.Premium memory premium 
@@ -516,7 +516,6 @@ contract PoolService is
     }
 
 
-    // TODO create (I)TreasuryService that deals with all gif related token transfers
     /// @dev transfers the specified amount from the bundle owner to the pool's wallet
     function _collectStakingAmount(
         InstanceReader instanceReader,
@@ -529,23 +528,11 @@ contract PoolService is
 
         // collecting investor token
         IComponents.ComponentInfo memory componentInfo = instanceReader.getComponentInfo(poolNftId);
-        TokenHandler tokenHandler = componentInfo.tokenHandler;
         address poolWallet = componentInfo.wallet;
-
-        if(amount.gtz()) {
-            uint256 allowance = IERC20Metadata(componentInfo.token).allowance(bundleOwner, address(tokenHandler));
-            if (allowance < amount.toInt()) {
-                revert ErrorPoolServiceWalletAllowanceTooSmall(bundleOwner, address(tokenHandler), allowance, amount.toInt());
-            }
-
-            // TODO: centralize token handling (issue #471)
-            tokenHandler.transfer(
-                bundleOwner,
-                poolWallet,
-                amount);
-        } else {
-            revert ErrorPoolServiceAmountIsZero();
-        }
+        componentInfo.tokenHandler.collectTokens(
+            bundleOwner,
+            poolWallet,
+            amount);
     }
 
     function _getDomain() internal pure override returns(ObjectType) {

package/contracts/product/ApplicationService.sol

@@ -38,7 +38,7 @@ contract ApplicationService is
     )
         internal
         virtual override
-        initializer()
+        onlyInitializing()
     {
         (
             address registryAddress,, 
@@ -128,6 +128,7 @@ contract ApplicationService is
         address applicationOwner,
         RiskId riskId,
         Amount sumInsuredAmount,
+        Amount premiumAmount,
         Seconds lifetime,
         NftId bundleNftId,
         ReferralId referralId,
@@ -152,13 +153,45 @@ contract ApplicationService is
         applicationNftId = _registerApplication(productNftId, applicationOwner);
 
         // create policy info for application
-        IPolicy.PolicyInfo memory applicationInfo = IPolicy.PolicyInfo({
+        IPolicy.PolicyInfo memory applicationInfo = _createApplicationInfo(
+            productNftId,
+            riskId,
+            sumInsuredAmount,
+            premiumAmount,
+            lifetime,
+            bundleNftId,
+            referralId,
+            applicationData);
+
+        // register application with instance
+        instance.getInstanceStore().createApplication(
+            applicationNftId, 
+            applicationInfo);
+
+        // TODO: add logging
+    }
+
+    function _createApplicationInfo(
+        NftId productNftId,
+        RiskId riskId,
+        Amount sumInsuredAmount,
+        Amount premiumAmount,
+        Seconds lifetime,
+        NftId bundleNftId,
+        ReferralId referralId,
+        bytes memory applicationData
+    )
+        internal
+        virtual
+        returns (IPolicy.PolicyInfo memory applicationInfo)
+    {
+        return IPolicy.PolicyInfo({
             productNftId:       productNftId,
             bundleNftId:        bundleNftId,
             referralId:         referralId,
             riskId:             riskId,
             sumInsuredAmount:   sumInsuredAmount,
-            premiumAmount:      AmountLib.zero(),
+            premiumAmount:      premiumAmount,
             premiumPaidAmount:  AmountLib.zero(),
             lifetime:           lifetime,
             applicationData:    applicationData,
@@ -171,21 +204,8 @@ contract ApplicationService is
             expiredAt:          zeroTimestamp(),
             closedAt:           zeroTimestamp()
         });
-
-        // TODO consider to provide this amount externally
-        // actual calculation is done 2nd time anyway for premium collection
-        // calculate premium amount
-        applicationInfo.premiumAmount = _calculatePremiumAmount(applicationInfo);
-
-        // register application with instance
-        instance.getInstanceStore().createApplication(
-            applicationNftId, 
-            applicationInfo);
-
-        // TODO: add logging
     }
 
-
     function renew(
         NftId policyNftId, // policy to be renewd (renewal inherits policy attributes)
         NftId bundleNftId // will likely need a newer bundle for underwriting
@@ -194,7 +214,7 @@ contract ApplicationService is
         virtual override
         returns (NftId applicationNftId)
     {
-
+        // TODO implement
     }
 
 
@@ -210,7 +230,7 @@ contract ApplicationService is
         external
         virtual override
     {
-
+        // TODO implement
     }
 
     function revoke(NftId applicationNftId)

package/contracts/product/BasicProduct.sol

@@ -21,6 +21,7 @@ abstract contract BasicProduct is
     {
         _setFees(productFee, processingFee);
     }
+
     function _initializeBasicProduct(
         address registry,
         NftId instanceNftId,

package/contracts/product/ClaimService.sol

@@ -32,7 +32,7 @@ contract ClaimService is
     )
         internal
         virtual override
-        initializer()
+        onlyInitializing()
     {
         (
             address registryAddress,, 
@@ -294,7 +294,7 @@ contract ClaimService is
         (
             Amount netPayoutAmount,
             address beneficiary
-        ) = _transferPayoutAmount(
+        ) = _calculatePayoutAmount(
             instanceReader,
             policyNftId,
             policyInfo,
@@ -303,10 +303,15 @@ contract ClaimService is
         // TODO callback IPolicyHolder
 
         emit LogClaimServicePayoutProcessed(policyNftId, payoutId, payoutAmount, beneficiary, netPayoutAmount);
+
+        {
+            NftId poolNftId = getRegistry().getObjectInfo(policyInfo.bundleNftId).parentNftId;
+            IComponents.ComponentInfo memory poolInfo = instanceReader.getComponentInfo(poolNftId);
+            poolInfo.tokenHandler.distributeTokens(poolInfo.wallet, beneficiary, netPayoutAmount);
+        }
     }
 
-    // TODO create (I)TreasuryService that deals with all gif related token transfers
-    function _transferPayoutAmount(
+    function _calculatePayoutAmount(
         InstanceReader instanceReader,
         NftId policyNftId,
         IPolicy.PolicyInfo memory policyInfo,
@@ -336,12 +341,6 @@ contract ClaimService is
                 // TODO transfer processing fees to product wallet
                 // TODO inform product to update fee book keeping
             }
-            
-            // TODO: centralize token handling (issue #471)
-            poolInfo.tokenHandler.transfer(
-                poolInfo.wallet,
-                beneficiary,
-                netPayoutAmount);
         }
     }
 

package/contracts/product/IApplicationService.sol

@@ -24,6 +24,7 @@ interface IApplicationService is IService {
         address applicationOwner,
         RiskId riskId,
         Amount sumInsuredAmount,
+        Amount premiumAmount,
         Seconds lifetime,
         NftId bundleNftId,
         ReferralId referralId,

package/contracts/product/IClaimService.sol

@@ -31,6 +31,7 @@ interface IClaimService is
     error ErrorClaimServicePolicyProductMismatch(NftId policyNftId, NftId expectedProduct, NftId actualProduct);
     error ErrorClaimServicePolicyNotOpen(NftId policyNftId);
     error ErrorClaimServiceClaimExceedsSumInsured(NftId policyNftId, Amount sumInsured, Amount payoutsIncludingClaimAmount);
+    error ErrorClaimsServicePayoutAmountIsZero(NftId policyNftId, PayoutId payoutId);
 
     error ErrorClaimServiceClaimWithOpenPayouts(NftId policyNftId, ClaimId claimId, uint8 openPayouts);
     error ErrorClaimServiceClaimWithMissingPayouts(NftId policyNftId, ClaimId claimId, Amount claimAmount, Amount paidAmount);

package/contracts/product/IPolicyService.sol

@@ -20,22 +20,22 @@ interface IPolicyService is IService {
 
     error ErrorPolicyServicePolicyProductMismatch(NftId applicationNftId, NftId expectedProductNftId, NftId actualProductNftId);
     error ErrorPolicyServicePolicyStateNotApplied(NftId applicationNftId);
-    error ErrorPolicyServicePolicyStateNotCollateralizedOrApplied(NftId applicationNftId);
+    error ErrorPolicyServicePolicyStateNotCollateralized(NftId applicationNftId);
+    error ErrorPolicyServicePolicyAlreadyActivated(NftId policyNftId);
 
-    error ErrorPolicyServicePremiumHigherThanExpected(Amount premiumExpectedAmount, Amount premiumToBePaidAmount);
     error ErrorPolicyServiceBalanceInsufficient(address policyOwner, uint256 premiumAmount, uint256 balance);
     error ErrorPolicyServiceAllowanceInsufficient(address policyOwner, address tokenHandler, uint256 premiumAmount, uint256 allowance);
 
-    error ErrorIPolicyServiceInsufficientAllowance(address customer, address tokenHandlerAddress, uint256 amount);
+    error ErrorPolicyServiceInsufficientAllowance(address customer, address tokenHandlerAddress, uint256 amount);
     error ErrorPolicyServicePremiumAlreadyPaid(NftId policyNftId, Amount premiumPaidAmount);
-    error ErrorIPolicyServicePolicyNotActivated(NftId policyNftId);
-    error ErrorIPolicyServicePolicyAlreadyClosed(NftId policyNftId);
-    error ErrorIPolicyServicePolicyNotActive(NftId policyNftId, StateId state);
+    error ErrorPolicyServicePolicyNotActivated(NftId policyNftId);
+    error ErrorPolicyServicePolicyAlreadyClosed(NftId policyNftId);
+    error ErrorPolicyServicePolicyNotActive(NftId policyNftId, StateId state);
     error ErrorPolicyServicePremiumNotFullyPaid(NftId policyNftId, Amount premiumAmount, Amount premiumPaidAmount);
-    error ErrorIPolicyServiceOpenClaims(NftId policyNftId, uint16 openClaimsCount);
-    error ErrorIPolicyServicePolicyHasNotExpired(NftId policyNftId, Timestamp expiredAt);
-    error ErrorIPolicyServicePolicyExpirationTooLate(NftId policyNftId, Timestamp upperLimit, Timestamp expiredAt);
-    error ErrorIPolicyServicePolicyExpirationTooEarly(NftId policyNftId, Timestamp lowerLimit, Timestamp expiredAt);
+    error ErrorPolicyServiceOpenClaims(NftId policyNftId, uint16 openClaimsCount);
+    error ErrorPolicyServicePolicyHasNotExpired(NftId policyNftId, Timestamp expiredAt);
+    error ErrorPolicyServicePolicyExpirationTooLate(NftId policyNftId, Timestamp upperLimit, Timestamp expiredAt);
+    error ErrorPolicyServicePolicyExpirationTooEarly(NftId policyNftId, Timestamp lowerLimit, Timestamp expiredAt);
 
     error ErrorPolicyServicePremiumMismatch(NftId policyNftId, Amount expectedPremiumAmount, Amount recalculatedPremiumAmount);
     error ErrorPolicyServiceTransferredPremiumMismatch(NftId policyNftId, Amount expectedPremiumAmount, Amount transferredPremiumAmount);
@@ -43,16 +43,16 @@ interface IPolicyService is IService {
     event LogPolicyServicePolicyDeclined(NftId policyNftId);
     event LogPolicyServicePolicyExpirationUpdated(NftId policyNftId, Timestamp expiredAt);
 
-    /// @dev collateralizes the policy represented by {policyNftId}
+    /// @dev creates the policy from {applicationNftId}. 
+    /// After successful completion of the function the policy can be referenced using the application NftId.
+    /// Locks the sum insured amount in the pool.
     /// sets the policy state to collateralized
-    /// may set the policy state to activated and set the activation date
     /// optionally collects premiums and activates the policy.
     /// - premium payment is only attempted if requirePremiumPayment is set to true
     /// - activation is only done if activateAt is a non-zero timestamp
-    /// an application can only be collateralized in applied state
-    /// only the related product may collateralize an application
-    function collateralize(
-        NftId policyNftId,
+    /// only the related product may create a policy from an application
+    function createPolicy(
+        NftId applicationNftId,
         bool requirePremiumPayment,
         Timestamp activateAt
     ) external;
@@ -62,7 +62,7 @@ interface IPolicyService is IService {
     /// only the related product may decline an application
     function decline(NftId policyNftId) external;
 
-    /// @dev collects the premium token for the specified policy
+    /// @dev collects the premium token for the specified policy (must be in COLLATERALIZED or ACTIVE state)
     function collectPremium(NftId policyNftId, Timestamp activateAt) external;
 
     /// @dev activates the specified policy and sets the activation date in the policy metadata

package/contracts/product/{IProductService.sol → IRiskService.sol}

@@ -12,7 +12,7 @@ import {Timestamp} from "../type/Timestamp.sol";
 import {UFixed} from "../type/UFixed.sol";
 import {Fee} from "../type/Fee.sol";
 
-interface IProductService is IService {
+interface IRiskService is IService {
 
     function createRisk(
         RiskId riskId,