Comment on page
Glossary of Terms
Description of key terminology
Term | Description |
|---|---|
Synthetic Asset | An crypto-asset that tracks the value of something else. |
DeFi | Decentralised Finance |
DAO | Distributed Autonomous Organisation |
Clay | Sumero's native currency |
SumSwap | Sumero's native exchange |
cSynth | A synthetic asset created on Sumero. A "clay synth" or cSynth for short. |
Collateral | An asset of value staked to mint a synthetic asset. Sumero permits both ether (ETH) and USDC. |
ETH | Ether (ETH) is the Ethereum blockchain's native cryptocurrency. |
USDC | A USD coin issued by centre consortium and backed by assets held in State Street bank. |
zClay Bond | A zero coupon Clay bond. |
Zero Coupon Bond | A bond that only pays interest at maturation date. There are "zero coupon" payments during its lifetime. |
Oracle | Blockchain oracles are entities that connect blockchains to external systems, thereby enabling smart contracts to execute based upon inputs and outputs from the real world. |
Optimistic Oracle | An optimistic oracle is an oracle where real-world data is integrated with decentralized systems (e.g. blockchains), and the data is accepted as true if it is not disputed during a certain period. |
Last modified 11mo ago