The words,
one line each.
Terms you will meet on this site and in the app.
- CCIP
- Chainlink's cross-chain protocol, used to move ZCHF between the chains it lives on. See exchanges and wallets.
- Challenge
- A public claim that a position's collateral is worth less than its liquidation price. It starts an auction that settles the question.
- Collateral
- What you lock in a position to borrow against: BTC, ETH, tokenized gold or shares.
- FCS
- Frankencoin Shares, the share and governance token: a claim on the reserve and a vote with veto rights.
- FPS
- Frankencoin Pool Shares, the earlier equity token. FCS wraps FPS one-to-one; new participants use FCS.
- Liquidation price
- The collateral price below which your position can be challenged and the collateral auctioned. Keep a buffer above it.
- Loan-to-value
- How much you borrow relative to your collateral's market value. Lower is safer.
- Peg
- ZCHF trading at one Swiss franc. Held by over-collateralization and arbitrage, not by issuer redemption.
- Position
- Your loan contract: it holds your collateral and records the ZCHF you minted, with terms fixed when you open it.
- Reserve
- ZCHF held by the protocol, funded by interest and FCS purchases. It pays the savings rate and covers shortfalls when an auction does not repay a debt; FCS is a claim on it.
- Retained reserve
- A share of what you mint that stays in the reserve and comes back when you repay.
- Savings module
- The contract that pays the savings rate on ZCHF deposited into it. ZCHF in a wallet earns nothing by itself.
- Savings rate
- The yearly rate paid on ZCHF in the savings module. Set and changed through governance; also called the lead rate.
- svZCHF
- Savings Vault token: ZCHF deposited in the savings module, held as one token whose value grows with the savings rate.
- Upfront interest
- Interest for the whole term, deducted from the ZCHF you receive when you mint.
- Veto
- The right of FCS holders with enough votes to block a proposed collateral or protocol change.
- ZCHF
- The Frankencoin token: a digital Swiss franc backed by on-chain collateral worth more than one franc.