> For the complete documentation index, see [llms.txt](https://docs.syndromics.xyz/llms.txt). Markdown versions of documentation pages are available by appending `.md` to page URLs; this page is available as [Markdown](https://docs.syndromics.xyz/introduction/glossary.md). # Glossary | Term | Meaning | | ------------------------- | ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | | **Borrow request** | A borrower's on-chain or relayed intent to borrow: collateral token and amount, principal wanted, maximum APR, term and fill deadline. | | **Offer** | An EIP-712 signed message from a lender (or borrower) stating the terms at which they will transact. Offers are free to create and cancel. | | **Standing offer** | A lender offer that is not tied to a specific request. It behaves like a limit order against a collateral token or tier. | | **Targeted offer** | A lender offer that references one specific borrow request. | | **Settlement** | The transaction that matches offers to a request, escrows collateral, moves principal and mints position NFTs. Executed by `LoanSettlement`. | | **Syndicate** | The set of lenders whose offers filled a single borrow request. Each lender holds a pro-rata slice. | | **Slice** | One lender's share of a loan, represented by a position NFT. | | **Position NFT** | An ERC-721 token minted per slice at settlement. It carries principal, APR, start time and claim on collateral. Transfer is gated by the eligibility registry. | | **Market** | A configuration keyed by `(collateralToken, loanToken, oracle, ltvConfig)`. Markets are isolated from each other. | | **LTV** | Loan-to-value: principal divided by collateral value at the oracle price. | | **Max LTV** | The highest LTV at which a loan can be originated in a given tier and session. | | **Liquidation LTV** | The LTV above which a loan becomes liquidatable. | | **Health factor (HF)** | `collateralValue × liquidationLtv / debt`. Below 1.10 the borrower is warned; below 1.00 the loan is liquidatable. | | **Closed-market haircut** | A reduction in effective LTV ceilings applied when the Chainlink feed reports the market as closed or the price is stale. | | **Session** | The state of the underlying equity market as reported by the oracle: regular, extended hours or closed. | | **Dutch auction** | The liquidation mechanism. Collateral is offered at a starting price above oracle and the price declines linearly to a floor; the first buyer at the current price takes it. | | **Refinance auction** | The rollover mechanism. Before maturity the rate rises linearly from the old rate toward a cap; the first lenders to accept take over the loan and the previous lenders are repaid. | | **Grace window** | A 24 hour period after maturity in which the borrower can still repay before the loan is treated as defaulted. | | **Idle capital** | Lender USDG that is approved for lending but not yet matched. With opt-in, it is parked in a whitelisted Morpho Blue vault. | | **Keeper** | An automated agent that triggers auctions, sends alerts, accepts refinance bids or rebalances idle capital. Anyone can run one. | | **Eligibility registry** | The contract that checks attestation-backed roles and jurisdiction rules on every settlement, supply, refinance and collateral transfer. | | **Attestation** | A signed on-chain statement (Ethereum Attestation Service schema) issued by a KYC provider that a wallet meets a role's requirements. Contains no personal data. | | **Stock Token** | An ERC-20 issued by Robinhood Assets (Jersey) Ltd representing a tokenized debt security backed 1:1 by shares held in US custody. | | **`uiMultiplier()`** | The ERC-8056 function that reports the shares-per-token ratio for a Stock Token, reflecting reinvested dividends and splits. | | **`oraclePaused()`** | A Chainlink feed flag set during corporate actions. The protocol freezes new borrows and liquidations on that token until it clears. | | **USDG** | The Paxos Global Dollar, the settlement asset for all loans. | | **ParamController** | The timelocked contract that holds all tunable parameters and emits an event for every change. | | **Sequencer Uptime Feed** | A Chainlink feed reporting whether the L2 sequencer is live. Used to apply a liquidation grace period after outages. | | **Delayed inbox** | The Arbitrum L1 contract through which transactions can be force-included after 24 hours if the sequencer censors or is down. | --- # Agent Instructions This documentation is published with GitBook. GitBook is the documentation platform designed so that both humans and AI agents can read, navigate, and reason over technical content effectively. Learn more at gitbook.com. ## Querying This Documentation If you need additional information that is not directly available in this page, you can query the documentation dynamically by asking a question. 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