Glossary

Term	Description
baker, baking	Validators of the Tezos blockchain are called bakers; baking tez means staking in the Tezos context.
burn	To pay back previously minted synthetic asset tokens. These tokens will be deducted from the total supply of the synthetic asset.
claim	Activity required to request tokens from a smart contract.
collateral	Assets pledged in youves vaults as security for the value of the minted and outstanding synthetic assets.
compounding	Reinvesting asset earnings
DEFI	The youves DEFI index.
DEX	Decentralised exchange that runs on a blockchain protocol. Also referred to as Swaps.
fungible	Something of such a nature that one part or quantity may be replaced by another equal part or quantity.
gap risk, gap events	A large, adverse market movement which happens too quickly for people and/or algorithms to react.
gas and storage	Transaction cost and storage cost on a blockchain, here on Tezos.
mint, minter	The act of creating synthetic assets, a person opening a vault and minting synthetic assets.
multisig, multisignature	Multisignature (multi-signature) is a digital signature scheme which allows a group of users to sign a single document. Typically, a multisignature algorithm produces a joint signature that is more compact than a collection of distinct signatures from all users.
non-custodial	No custodian involved. The control is fully in the hands of the user (or the owner of the private keys)
oracle	Third party or decentralized data feed services that provide external data, in our case price feeds.
perpetual	never ending, without a defined maturity date.
platform	youves or the platform, a non-custodial and decentralised software built on Tezos and owned by its users.
reference asset	For youves tracker tokens the asset which is the target of the soft peg.
short squeeze	A short squeeze occurs when an asset jumps sharply higher, forcing people with short positions to buy it at a loss in order to prevent even greater losses. Their necessity to buy only adds to the upward pressure on the asset's price.
short, short position	A short, or a short position, is created when a person sells an asset first with the intention of repurchasing it at a later time. It is also occurring whenever a person has an obligation to deliver a certain quantitiy of asset that the person does not currently hold at a time in the future, say a delivery of 100 barrels of oil in three months time. In the financial world this is often done explicitly with the expectation of future lower prices, so that the person can sell high and buy low.
smart contracts	A smart contract is a computer program or a transaction protocol which is intended to automatically execute, control or document legally relevant events and actions according to the terms of a contract or an agreement.
soft peg	A method of aiming to match a target price of a tracker/youves tracker token without actively buying and/or selling in the market.
staking	Locking an asset in a smart contract and receiving a staking reward.
Step in	The act of posting youves tracker tokens into a vault which has a collateralization ratio at or below the emergency ratio and receiving bonus.
synthetic assets	Token secured by collateral or other suitable methods.
Tezos blockchain	Tezos is an open-source platform for assets and applications backed by a global community of validators, researchers, and builders.
token	denomination of cryptocurrencies or synthetic assets.
tracking	The act of aiming to closely follow the price of a reference asset.
uDEFI	synthetic asset youves tracker token with a soft peg to the youves DEFI index.
uUSD	synthetic asset youves tracker token with a soft peg to the US Dollar.
vault	An instance of a smart contract which allows users to post collateral and create synthetic assets.
XTZ, tez	The native currency of the Tezos Blockchain.
YOU	The governance token of the youves platform.
youves	youves or the Platform a non-custodial and decentralised software built on Tezos and owned by its users.