DOCS / REFERENCE
Glossary
- APY
- Annual Percentage Yield. The current variable annualized rate generated by the vault's active loans.
- Vault
- The underlying smart contract that aggregates user deposits and executes the lending strategy.
- Shares
- Accounting tokens issued by the vault to represent a depositor's proportional ownership of the vault's total assets.
- Underlying value
- The live asset value represented by the user's current vault shares, fluctuating with yield accrual.
- Earned
- The reconciled current-position return amount, calculated when onchain history is complete. Not a guaranteed projection.
- Allowance
- The specific amount of an ERC-20 token a wallet authorizes a contract (like the vault) to move on its behalf.
- Approval
- The transaction where a wallet grants an allowance to a smart contract.
- Preflight
- VOVO's server-side sequence of simulating transactions and checking infrastructure health before returning a payload.
- Oracle
- An external price feed used by underlying markets to determine asset valuations and borrowing capacity.
- Liquidity
- The amount of capital currently available for withdrawal or borrowing within the vault or underlying markets.
- Collateral
- Assets deposited by borrowers into underlying markets to secure their loans.
- LLTV
- Liquidation Loan-To-Value. The maximum permitted ratio of borrowed assets to collateral value before liquidation occurs.
- RPC
- Remote Procedure Call infrastructure used by VOVO to read onchain state and simulate transactions.
- Runtime hash
- The cryptographic hash of a deployed smart contract's executable bytecode, used by VOVO for verification.
- Non-custodial
- An architecture where the user holds their own private keys and VOVO never possesses the deposited assets.
- Curator
- The entity responsible for configuring a vault's market allocations and risk parameters.
- Adapter
- A specific contract module used by the vault to interact with underlying protocols.