Glossary
Term | Meaning |
|---|---|
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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Last modified 8mo ago