Glossary
Last updated
Last updated
Term
Description
Borrower
Any user/wallet address on the protocol that wants to borrow funds by collateralizing their NFT.
Lender
Any user/wallet address on the protocol that is willing to accept the NFT collateral and loan conditions and lends funds to the borrower.
Loan Conditions
Parameters used to specify the conditions of the loan. This includes "Loan Amount", "Duration", "Interest Rate".
Order
The represenation of an NFT collateraL with the Borrower's preferred loan conditions
Create Order
The act of collateralizing an NFT on the protocol by the Borrower.
Withdraw Order
The act of withdrawing an NFT from collateral by the Borrower if the loan is not initiated yet.
Offer
The representation of Loan Conditions set by the Lender as a counter to the Borrower's Order. The loan is only initiated if the Offer is accepted by the Borrower.
Create Offer
The act of counter-offering/proposing Loan Conditions by a Lender for a given Order.
Accept Offer
The act of accepting an Offer from a Lender by a Borrower to initiate a Loan.
Instant Loan
The approval by a Lender to accept the Borrower's preferred Loan Conditions and instantly start a Loan (without Borrower approval).
Credit Token (CT)
The ERC721 (NFT) Token generated upon initiation of a Loan. It is generated when an Offer is approved by the Borrower or when a Lender initiates an Instant Loan. The Credit Token will be assigned to the Lender upon generation. It represents the obligation to receive repayment of the loan (aka ).
Debt Token (DT)
The ERC721 (NFT) Token generated upon initiation of a Loan. It is generated when an Offer is approved by the Borrower or when a Lender initiates an Instant Loan. The Debt Token will be assigned to the Borrower upon generation. It represents the obligation to repay the loan (aka Debt).
Credit Derivatives (CDs)
Derivative tools & products built on top of the protocol using the Credit Token
Debt Derivatives (DDs)
Derivative tools & products built on top of the protocol using the Debt Token
Term
Description
NFT (ERC721)
Non-Fungible Token which represents digitial assets on the blockchain. Follows the ERC721 standard in EVM-compatible chains
ERC20
A token standard on EVM-compatible chains for representing fungible tokens.