# Lending pool admins

Market admins are tasked with creating and maintaining lending markets for NFT collections.

Each market has a set of mutable fields which can be controlled by market admins, including:

* interest rate model
* admin fee
* liquidation thresholds
* oracle provider
* liquidation fees

This role is what enables Honey to adopt a platform approach to lending, where lending markets are generated by admins rather than having the protocol issue central markets. This allows a variety of loans to be issued with more customisation for each collection. 

These admins can be DAOs or individuals, and don't necessarily need to be tied to the project they are creating a market for.

## Admin fees

Market admins can institute fees of up to 50% in their lending markets. This fee is paid from the interest paid by lenders, or during liquidations. Admin fees are deducted after protocol fees, which are at 10%.

*Example: With a 5% admin fee, if 1000 USDC is paid by borrowers in interest, the protocol fee will first take 10%, then the admin fee will charge 5% of what is left. In this market, lenders receive 85.5% of what borrowers pay in interest.*

Admin fees can serve as revenue for a DAO, or can be used to incentivise market makers.

*Example: Admin fee is 10% in a market that predominantly uses Elixir for liquidations. Admin pays half of their fee towards liquidity providers on Elixir, to secure their market with more liquidity. The other 5% is profit, or can go towards paying oracles, grace periods, and more.*