The official implementation of the Term Lending Module, largely derived from the PSM. There are two main components to the TLM:

The TLM module acts as a authed special vault sitting behind the AuthGemJoin contract. DssTlm allows you to call sellGem() to trade ERC20 DAI for FYDAI. Upon calling one this function the TLM vault will lock FYDAI in the join adapter, take out a dai loan at a maturity-adjusted price and issue ERC20 DAI to the specified user.

The init function is used to introduce new fyDai series (ilk) to the TLM. A bytes32 identifier and a AuthGemJoin address must be provided.

The file function is used to modify the line (debt ceiling) and yield (target per-second interest rate) parameters for each ilk.

The TLM requires ERC20 approvals to pull in the tokens.

To use sellGem(ilk, usr, amt) you must first call gem.approve(<gemJoinAddress>, amt). Example:

// Trade 100 fyDaiSep21 for DAI
fyDaiSep21.approve(0x0A59649758aa4d66E25f08Dd01271e891fe52199, 100 * (10 ** 18));
tlm.sellGem(address(this), 100 * (10 ** 18));

When calling sellGem(), DAI is minted at a price determined by a target yield and the time to maturity: price = 1/(1 + yield)^timeToMaturity and daiAmt = price * fyDaiAmt