Glossary of Terms
Description of key terminology
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Description of key terminology
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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 to external systems, thereby enabling to execute based upon inputs and outputs from the real world.
Optimistic Oracle
An 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.