Glossary
Earner
A holder or distributor of M0-powered stablecoins whose address is approved to earn the Earner Rate.
Earner Rate
The annualized percentage paid in the Earn Mechanism.
Eligible Collateral
A description of portfolio composition which can be placed in Eligible Custody Solutions and be used to generate an onchain Collateral Value, which is subsequently used to mint M0-powered stablecoins.
Eligible Custody Solution
A description of entity structures, jurisdictions, contractual agreements, and other details that will suffice for the custody of Eligible Collateral.
Mint Delay
A period of time between when a Issuer has called Propose Mint and when they can first call Mint. It serves as a protective measure to ensure all actors have sufficient time to audit each Propose Mint.
Mint Ratio
The fraction size of a Issuer's onchain Collateral Value that they can mint.
Issuer
Issuer
An institution that connects to the protocol to generate and manage stablecoin supply.
Issuer Freeze Time
A period of time during which an Issuer will be disabled to call Propose Mint and Mint methods. Can be called by any Validator on any Issuer by passing the Issuer address as the argument of the Freeze method. It can be called multiple times on the same Issuer to reset the Issuer Freeze Time window. If Freeze is called during an already existing Issuer Freeze Time, the Issuer Freeze Time window will restart from the beginning.
Issuer Rate
The annualized percentage charged continuously to Issuers on their outstanding debt.
Penalty Rate
The percentage charged for missing Update Collateral interval(s) or being undercollateralized on outstanding debt that is in excess of the amount a Issuers is permitted to have generated. It is assessed any time Accrue Penalty is called, which is embedded in both Update Collateral and Burn. This is a fixed percentage and not an annualized rate.
Periphery Contract
A smart contract that adds supplement functionality, but exists outside of the core M0 protocol.
POWER
One of the two utility tokens used in the M0 TTG. It is used to vote on active proposals and can be considered the primary management token of the mechanism. POWER holders will earn ZERO in exchange for their direct participation in governance.
Propose Mint Time To Live
The amount of time after the Mint Delay during which a Issuer can complete the mint operation before Propose Mint expires. It serves as a protective measure to ensure that Issuers cannot call Propose Mint and then execute the Mint at a much later date.
TTG
TTG stands for Two Token Governor and is a mechanism by which holders of the voting tokens are penalized for failing to vote. There are two utility tokens used in the M0 TTG: POWER and ZERO.
Update Collateral Interval
This amount of time is the period between which Update Collateral must be called by a Issuer. If they do not call Update Collateral within this amount of time after their previous call, their onchain Collateral Value is set to 0 and they will incur Penalty Rate on the next update.
Validator
An independent entity that provides timely information about the offchain collateral being used to back M0-powered stablecoins.
ZERO
One of the two utility tokens used in the M0 TTG, is earned by POWER holders in exchange for their direct participation in governance. The ZERO holders are the recipient of all remaining value that is not paid out to the Earn Mechanism for their participation in protocol governance. The anticipated accumulation of tokens to the ZERO holders are Proposal Fee payments from proposal submission, the payments from POWER token auctions, and a portion of Issuer Rate and Penalty Rate charges to Issuers.