Glossary

MIM

Magic Internet Money (MIM) is a stablecoin backed by interest bearing tokens issued by abracadabra.money. MIM is native of the Ethereum Ecosystem and bridged to other chains through the Anyswap Network! Find out more about MIM here.

APR

Annual Percentage Rate, is the annualized interest rate without taking the effect of compounding into account.

APY

Annual Percentage Yield, is the normalized representation of an interest rate, based on a compounding period over one year. Note that APYs provided are rather ballpark level indicators and not so much precise future results.

BCV

Bond Control Variable, is the scaling factor at which bond prices change. A higher BCV means a lower discount for minters, allowing the protocol to capture higher premiums although will less total bonding capacity. While a lower BCV means a higher discount for minters, producing less premium for the protocol although increasing total bonding capacity.

DAO

Decentralized Autonomous Organization, is a governance mechanism for making decisions in a more trustless and collaborative way. Voting rights are often bound to a governance token. In SecureDAO the governance token is sSCR, and we expect the voting page to be up as soon as possible, stay tuned!.

DCV

Deflation Control Variable, is the scaling factor at which protocol defined buy pressure changes. A higher DCV means more buy pressure from the protocol, resulting in a higher deflation. A lower DCV means less buy pressure from the protocol, resulting in a lower deflation.

EVM

Ethereum Virtual Machine, is a state machine in which all Ethereum accounts and smart contracts live. At any given block in the chain, Ethereum has one and only one canonical state, and the EVM is what defines the rules for computing a new valid state from block to block. Fantom is an EVM Compatible Network!

Liquidity Bonds

Liquidity bonds are all the bonds that allows users to mint SCR using LP token. An Example is SCR-MIM LP bonds.

PCV

Protocol Controlled Value, is the amount of funds the treasury owns and controls. The more PCV the better for the protocol and its users.

POL

Protocol Owned Liquidity, is the amount of LP the treasury owns and controls. The more POL the better for the protocol and its users.

PoR

Proof of Reserve, is the mechanism of strengthening the reserve of SecureDAO treasury via the sales of bonds (i.e Minting new SCR). Minters provide liquidity to the treasury, thereby building its reserve. In return for their service, bonders get paid in SCR.

Reserve Bonds

Reserve bonds are all the bonds that allows users to mint SCR using single assets. They are sometimes referred to as "naked" bonds. Examples are MIM bonds.

Reward Rate

Reward rate is the configured percentage of SCR distributed to all stakers on each rebase relative to the total supply. The reward rate is precisely set by the policy team.

Reward Yield

Reward yield refers to the actual amount of SCR received by each staker on each rebase. The reward yield is a rough target from a policy point of view. It can almost never be maintained precisely due to e.g. fluctuating amounts of SCR staked.

Backing per SCR

Backing per SCR, is the amount of funds the treasury holds as a proportion to circulating SCR. It is a function of treasury value which provides backing for SCR

RFV

Risk free value, is the amount of funds the treasury holds with a risk-free-valuation as proportion of the amount of SCR supply circulating. This proportion is the value at which the protocol will back circulating SCR by buying back SCR from the market.