Market State - Exponent Docs

Use these getters and fields to inspect current market state after loading a TranchingMarket.

Usage

const market = await TranchingMarket.load(connection, marketAddress, env);

console.log("State:", market.state.marketState);
console.log("Paused flags:", market.state.statusFlags);
console.log("Senior raw NAV:", market.getSrNetAssetValue());
console.log("Senior effective NAV:", market.getSrEffNetAssetValue());
console.log("Junior raw NAV:", market.getJrNetAssetValue());
console.log("Junior effective NAV:", market.getJrEffNetAssetValue());
console.log("Market size:", market.getMarketSize());
console.log("Effective market size:", market.getEffectiveMarketSize());
console.log("Utilization:", market.state.financials.utilization);

Helpers

Function	Returns	Description
`getSrNetAssetValue()`	`bigint`	Senior raw NAV as a raw fixed-point value
`getSrEffNetAssetValue()`	`bigint`	Senior effective NAV after the tranche waterfall
`getJrNetAssetValue()`	`bigint`	Junior raw NAV as a raw fixed-point value
`getJrEffNetAssetValue()`	`bigint`	Junior effective NAV after loss, recovery, and return allocation
`getMarketSize()`	`bigint`	`Senior raw NAV + Junior raw NAV`
`getEffectiveMarketSize()`	`bigint`	`Senior effective NAV + Junior effective NAV`

State fields

Field	Description
`state.marketState`	`Uninitialized`, `Active`, or `FixedTermRecovery`
`state.statusFlags`	Bitmask of global market flags. `1` means paused
`state.financials.utilization`	Current utilization used by the return curve
`state.financials.currentJuniorReturnShare`	Last calculated Junior return share
`state.financials.twJuniorReturnShareAccrued`	Time-weighted Junior return share accumulator
`state.financials.lastSyncTs`	Last timestamp when NAV was synced
`state.financials.lastDistributionTs`	Last timestamp when distributable gain was allocated
`state.financials.fixedTermEndTs`	Recovery window end timestamp, if active

Number fields are fixed-point values with 1_000_000_000_000 as one unit. Use tranchingFromNumber or tranchingNumberToRaw for conversions. These helpers do not apply token mint decimals.