> For the complete documentation index, see [llms.txt](https://docs.teller.org/v2/llms.txt). Markdown versions of documentation pages are available by appending `.md` to page URLs; this page is available as [Markdown](https://docs.teller.org/v2/personas/pool-owner/pool-settings.md).

# Pool Settings

New lending pools can be created by calling the function `createMarket()` on `MarketRegistry.sol`.  Whenever new loans are created, they are always created within a lending pool (specified by `marketId`) and so they adopt the parameters of that pool such as `paymentDefaultDuration` and `paymentCycleType`. 

```solidity
 /**
 * @notice Creates a new market.
 * @param _initialOwner Address who will initially own the market.
 * @param _paymentCycleDuration Length of time in seconds before a bid's next payment is required to be made.
 * @param _paymentDefaultDuration Length of time in seconds before a loan is considered in default for non-payment.
 * @param _bidExpirationTime Length of time in seconds before pending bids expire.
 * @param _requireLenderAttestation Boolean that indicates if lenders require attestation to join market.
 * @param _requireBorrowerAttestation Boolean that indicates if borrowers require attestation to join market.
 * @param _paymentType The payment type for loans in the market.
 * @param _uri URI string to get metadata details about the market.
 * @param _paymentCycleType The payment cycle type for loans in the market - Seconds or Monthly
 * @return marketId_ The market ID of the newly created market.
 */
function createMarket(
    address _initialOwner,
    uint32 _paymentCycleDuration,
    uint32 _paymentDefaultDuration,
    uint32 _bidExpirationTime,
    uint16 _feePercent,
    bool _requireLenderAttestation,
    bool _requireBorrowerAttestation,
    PaymentType _paymentType,
    PaymentCycleType _paymentCycleType,
    string calldata _uri
) external returns (uint256 marketId_)

```