Glossary
What is yin? What is yang? Look no further.
Last updated
What is yin? What is yang? Look no further.
Last updated
This glossary sets out a list of words that refer to specific terminologies, constants, variables or functions in Opus.
Term | Definition |
---|---|
There are three distinct concepts of time that are used in the smart contracts for Opus: interval, era and epoch.
Interval is a discrete time step of a fixed length of 30 minutes that underpins the Shrine, setting the frequency for price and multiplier updates.
Era is a variable number of intervals where the base rates for yang
s remain unchanged. Its sole purpose is to facilitate the calculation of the average base rates for yang
s in the Shrine for a given span of intervals.
Epoch is a variable period of time that is tied to the "shares" used for internal accounting in the Absorber only. It is used to calculate the amount of yin
, absorbed assets and rewards that a provider to the Absorber is entitled to withdraw. An epoch is entirely independent of an interval or era.
Yang
A collateral type, e.g. ETH, WBTC
Yin
The synthetic
Abbot
The module that acts as the point-of-entry for end-users to manage their troves.
Absorber
A stability pool where users may deposit yin
and participate in liquidations, as well as to earn a percentage of debt surplus and additional reward tokens (if any).
Allocator
The module that provides a list of recipients of debt surplus, and their percentage allocations, to the Equalizer.
Base rate
The interest rate for a given yang
Caretaker
The module that is responsible for closing down the Shrine and the protocol in a graceful manner, ensuring that the remaining collateral assets are fairly distributed between both trove owners and yin
holders.
Ceiling
This may refer to: 1. Shrine's debt ceiling: Maximum amount of debt allowed for the entire protocol 2. A Transmuter's debt ceiling: Maximum amount of debt that can be minted for a Transmuter module
Controller
The module that adjusts a global multiplier of interest rates for troves.
Deposit
Transferring the underlying collateral asset of a yang
to the protocol for a trove
Enter
Transferring the underlying collateral asset of a yang
from an address to its Gate
Epoch
A variable period of time tied to the shares used for internal accounting in the Absorber only.
Equalizer
The module that balances the Shrine's budget by either minting debt surpluses or allowing anyone to wipe out debt deficits. It also distributes minted debt surpluses to the recipients from the Allocator module.
Era
A variable period of time that spans multiple intervals during which the base rates of all yang
s did not change.
Exit
Transferring the underlying collateral asset of a yang
from its Gate to an address
Forge
Mint yin
that is backed by a trove's value
Gate
Adapter for the underlying collateral tokens of yang
s that holds the deposited amounts
Interval
A time step representing a fixed discrete block of time in the Shrine
LTV
Loan-to-value ratio
Melt
Pay down a trove's debt by burning yin
Provide
Depositing yin
to the Absorber
Purger
The liquidation module
Ray
Fixed point number with 27 decimal precision
Remove
Withdrawing yin
from the Absorber, if any remaining.
Seer
The oracle module that fetches prices from oracle adapters and submits yang
s' prices to the Shrine.
Sentinel
A wrapper module over Gates.
Shrine
The core accounting module.
Threshold
The maximum amount of debt as a percentage of its total value. This may be in reference to a yang
, a trove or the Shrine.
Trove
A collateralized debt position.
Wad
Fixed point number with 18 decimal precision.
Withdraw
Withdrawing the underlying collateral asset for a yang
from the protocol for a trove