> For the complete documentation index, see [llms.txt](https://docs.arenas.fi/llms.txt). Markdown versions of documentation pages are available by appending `.md` to page URLs; this page is available as [Markdown](https://docs.arenas.fi/build-with-arenas/launch-market.md).

# Launch a Market (Suppliers & Originators)

Originators run **white-label financing markets**: you own the borrowers and the economics, Arenas provides the engine. A market is an [Atomica](/atomica/atomica-protocol.md) `FinancingMarket` configured for one real-world program (e.g. `Brazil – Coffee – USDC`).

***

### What a market defines

| Parameter                           | Role                                                                 |
| ----------------------------------- | -------------------------------------------------------------------- |
| **Asset token**                     | The ERC-20 used for supply and repayment (e.g. USDC).                |
| **Approver**                        | Address allowed to approve/decline financing requests.               |
| **Operator**                        | Configures the market and earns a share of interest as a market fee. |
| **Access tokens**                   | The NFT list that gates who may borrow.                              |
| **tranchesLimit**                   | Max intents (pool tranches) a single draw-down can pull from.        |
| **exposureCap**                     | Max total outstanding principal.                                     |
| **approveExpiry / approveCooldown** | Approval window and pacing rules (ms).                               |
| **liquidationGracePeriod**          | Grace before a defaulted financing is liquidation-eligible.          |

These surface on `GET /lending/markets` per market, so your ops UI can read the live configuration.

***

### Operating a market

Once live, the two ongoing responsibilities are **review** and **monitoring**:

```mermaid
flowchart LR
    Inbox[Approver inbox] --> Rev{Review request}
    Rev -->|approveRequest| Win[Receive window opens]
    Rev -->|declineRequest| X[Declined]
```

* **Review inbox** — read each market’s `requests[]` where `status = REQUESTED (0)`, then call `approveRequest` (optionally a partial amount within `[minAmount, amount]`) or `declineRequest`. Approval opens the receive window; it does **not** move funds.
* **Monitor** — watch `financings[]` (`ACTIVE` / `REPAID` / `LIQUIDATED`), `totalOutstandingPrincipal`, and `exposureCap` to manage portfolio quality.
* **Attract liquidity** — coordinate with **Curators / LPs** so the market has intents to draw from (see [Fund Markets](/build-with-arenas/fund-markets.md)).

See [Roles & Permissions](/atomica/roles-and-permissions.md) for the operator/approver split.

***

### Market creation

Markets are deployed from a factory on top of an Atomica product that sets the shared limits (fee caps, withdrawal rules, and the allowlist of who may create markets). Deploying a new market and its pools is an onboarding step handled with the Arenas team.

> **No-code market setup** (a provisioning UI for Originators) is on the roadmap. Until then, market provisioning is done with Arenas support plus the [API](/build-with-arenas/api-reference.md), [CLI](/build-with-arenas/cli.md), and contract ABIs from `GET /abis/current`.