Reference

Glossary

zipUSD — a non-yield-bearing synthetic credit-dollar.

szipUSD — a yield-bearing equity credit vault, built on top of Gnosis Zodiac, Moloch v3 and Chainlink CRE. Earns Yield & holds Duration Risk.

Silo — A credit venue within the Zipcode Network.

CreditWarehouse — Onchain settlement for lines of credit. Built on Gnosis Zodiac, Euler Earn, Euler EVK and Chainlink CRE.

Venue — Euler. New venues are registered through IZipcodeVenue interface as an adapter.

Credit line — Isolated, per-lien lending market, with gated access to qualified borrowers.

Lien token — the 1/1 fixed-supply LienCollateralToken which is marked at the value of the underlying Lien. This collateral token is issued to each line of credit, and is necessary for Euler to function. It is burned when the Line of Credit has been repaid.

Equity mark — the Proof-notarized Lien Value. Oracle registered in ZipcodeOracleRegistry, and routed to the correlated credit line.

Proof — the notarization layer sealing that the SPV’s lien documents are genuine.

The six gates — lienPerfected, insured, identityOk, creditOk, incomeOk, titleClean: All must pass before any credit line is opened.

CRE — Chainlink Runtime Environment — The off-chain workflow layer that transmits sources of truth, and runs operations.

Forwarder — the immutable Chainlink Keystone contract that runs CRE.

Keeper / operator — the single immutable, no-custody CRE identity that drives Junior Tranche workflows.

ExitGate — the szipUSD vault’s custody-and-issuance gate: the sole minter and burner of the share, and sole custodian of the DAO’s Loot.

NAV — The total value within the Junior Tranche Vault as computed by SzipNavOracle.

Coverage floor — the DurationFreezeModule requires that utilized USDC in the Credit Warehouse is backed 1:1 by value in the junior Equity vault.

Buy-and-burn bid — The only protocol sourced exit primitive. The Junior Tranche Vault processes the Redemption Queue by purchasing through CoW limit orders, and burning the shares.

CoW Limit Orderbook — An intents based exit queue which allows secondary market bids to be placed on szipUSD positions. Also functions as the redemption queue, for protocol Buy-and-Burn.

xALPHA / szALPHA — Chainlink CCIP enables Bittensor Subnet tokens to be turned into yield-bearing, Liquid Staked Tokens on EVM. — We are exploring these tokens for liquidity mining.

Originator — a KYB’d HELOC Originator with established secondary-market relationships.

Timelock — the OpenZeppelin TimelockController (~2-day delay) that owns every re-pointable contract and governs every economic parameter.