Glossary of key terms
  • Auditors β€” Participants vote to approve Borrowers, which is required before they can borrow.
  • Backers β€” Participants who supply junior tranche (first-loss) capital to
    individual Borrower Pools.
  • Borrowers β€” Participants who raise capital from the protocol via Borrower
  • Borrower Pool β€” Smart contract that encodes a set of financing terms for a
    Borrower, including the interest rate and repayment schedule, and through
    which the Borrower can borrow capital and repay it with those terms.
  • GFI β€” Token used for Governance votes, Auditor staking, Auditor vote rewards,
    staking on Backers, early Backer rewards, and other potential rewards for all
    protocol participants.
  • Governance β€” Smart contract that is managed by the community DAO and has
    the ability to update the protocol via decentralized governance votes.
  • Leverage Model β€” A formula by which the Senior Pool automatically determines
    how much capital to allocate to each Borrower Pool.
  • Liquidity Providers β€” Participants who supply capital to the Senior Pool.
  • Senior Pool β€” Smart contract that accepts capital from Liquidity Providers and
    automatically allocates capital to the senior tranche of Borrower Pools according
    to the Leverage Model.
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