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Glossary

TermDescription
baker, bakingValidators of the Tezos blockchain are called bakers; baking XTZ means staking in the Tezos context.
burnTo delete or terminate existing tokens.
claimActivity required to request tokens from a smart contract.
collateralAssets pledged in youves vaults as security for the value of the minted and outstanding synthetic assets.
compoundingEarning interest on youves stems from both, the initial principal and the accumulated earnings from preceding periods.
DEXDecentralised exchange that runs on a blockchain protocol.
fungibleSomething of such a nature that one part or quantity may be replaced by another equal part or quantity.
gap risk, gap eventsA large, adverse market movement which happens too quickly for people and/or algorithms to react.
gas and storageTransaction cost and storage cost on a blockchain, here on Tezos.
mint, minterThe act of creating synthetic assets, a person opening a vault and minting synthetic assets.
multisig, multisignatureMultisignature (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-custodialA person opening a vault, posting collateral and minting synthetic assets.
oracleThird party or decentralized data feed services that provide external data / off-chain data it onto the blockchain.
perpetualnever ending, without a defined maturity date.
platformyouves or the platform a non-custodial and decentralised software built on Tezos and owned by its users.
reference assetFor stable tokens the asset which is the target of the soft peg.
short squeezeA 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 positionA 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 contractsA 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 pegA method of aiming to match a target price of a tracker/stable token without actively buying and/or selling in the market.
stability mechanism staking poolPool of governance tokens which cna be used for the purpose to reinstate undercollateralised vaults.
stakingactively participating in the risk mitigation measures on youves and receiving a yield or transaction validation services with proof-of-stake collateral.
Step inThe act of posting stable tokens into a vault which has a collateralization ratio at or below the emergency ratio and receiving bonus.
synthetic assetsToken secured by collateral or other suitable methods.
Tezos blockchainTezos is an open-source platform for assets and applications backed by a global community of validators, researchers, and builders.
tokendenomination of cryptocurrencies or synthetic assets.
trackingThe act of aiming to closely follow the price of a reference asset.
uUSDsynthetic asset stable token on youves with a soft peg to the US Dollar.
vaultAn instance of a smart contract which allows users to post collateral and create synthetic assets.
XTZ, tezThe native currency of the Tezos Blockchain.
YOUThe governance token of the youves platform.
youvesyouves or the Platform a non-custodial and decentralised software built on Tezos and owned by its users.