Glossary

TermMeaning

2FA

Two Factor Authentication used in Fiat Top Up and Withdrawal

AIT

Accepted Invoice Token - ERC721 Token representing an invoice

AML/KYC

Anti-Money Laundering and Know Your Client before onboarding

API

An Oracle by Asset Originator, Plaid or a Bank

APR

Annual Percentage Rate accruing every second on Asset

APY

Annual Percentage Yield compounding every second on Note

Asset

Asset Originator

Companies that provide advance financing to multiple businesses. Asset Originators access financing via investors in UP Pools

Available for financing

The value of the underlying collateral determines how much an Asset Originator can finance against a locked NFT. An Asset Originator may choose to finance less than the available amount.

Coupon

Fixed interest rate that a note token is accruing at

DAI

Stablecoin of MakerDao

Dutch Auction

EL

Expected Loss = PD x LGD

English Auction

Fiat

Fiat Asset Token _FAT

Token representing fiat money on Untangled Platform

Financing

Amount advanced to each Asset brought to a Pool

Financing Fee

Annual interest rate (APR) at which the interest for the outstanding financing is accrued with secondly compounding.

First Loss Buffer

Value of JOT expressed as % of Pool Value

General Document

Generated from a template on UP not requiring signatures

Issuer

Issuer of SOT/JOT

JOT

Junior Obligation Token - Junior position within a Payment Waterfall

LAT

Loan Asset Token - representing loan assets on UP

Legal Document

Generated from a template on UP requiring signatures

LGD

Loss Given Default

Maturity Date

Expected repayment date for the outstanding financing. It is used to calculate the present value of the financing for the pool's asset value.

Metamask/External wallet

Non-custodial wallet supported by U

Multi sig

Multi signature contract - Smart contract

Native/Account wallet

Ethereum address automatically created when user onboarded t

NAV

Net Asset Value - The Asset Value (NAV) reflects the present value of the outstanding portfolio of financings. It is the sum of the present values of the risk-adjusted expected repayments of all outstanding financings.

NFT

Non-Fungible Token representing Assets on UP. "Non-Fungible Token" as a digital representation of a single unique collateral, IE one invoice. The Untangled Platform business NFT follows the ERC-/EIP-721 Ethereum standard.

Omnibus Account

Bank account where FATs are minted. Total Supply of FAT = Bank Balance

Oracle

API to inform blockchain

Payment Waterfall

PD

Probability of Default

Pool

A smart contract containing Assets and/or Note token

Pool bank account

Bank account designated to each Pool/transaction

Pool Manager

Operator of a Pool

Pool Owner

Owner of a Pool - same as Issuer

Pool Sale

Sale of a Pool of Assets (whole asset sale)

Pool Value

#ERROR!

Pool Wallet

Pool smart contract containing Reserve

Pool Reserve

Representing ‘Cash’ in a Pool - Amount of currency currently held in the pool that is not currently deployed for financings by the Asset Originator. The reserve is available for financing by the Asset Originator and redemptions by investors.

Risk Group

The risk group of a financing determines the interest rate based on the underlying scorecard.

RWA

Real World Asset as opposed to Crypto Assets such as invoices or loans

Scorecard

For calculator of NAV taking into account risk class, PD, LGD

Servicer/Servicing

Serving and collecting for Asset in a Pool

SOT

Senior Obligation Token - Senior position in a Waterfall

SOT/JOT Price

Current Price of SOT, JOT

SOT/JOT Token Supply

Total number of SOT, JOT tokens in a Pool

SOT/JOT Value

Total value (expressed in currency term) of SOT/JOT

SPV

Special Purpose Vehicle - each Borrower or Lender Pool is an SPV

Trustee

Acts for the beneficiary of a Pool

UP

Untangled Protocol or Untangled Platform

Untangled Admin

Admin role on UP

cUSD

Stable coin by within Celo ecosystem

uUSD, uGPB, uEUR

FAT tokens on UP representing USD, GBP, EUR respectively

Validator/Auditor

Validate existence and/or value of asset before tokenization

Yield to Maturity/Yield

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