Glossary
The following definitions apply across Credit Coop Protocol V2 documentation and correspond to defined terms in the Terms of Use. Any terms used in the Terms of Use but not defined there take the meaning set out below.
Collateral Digital Assets deposited by a Borrower to secure a Credit Line, as further defined in any applicable Loan and Security Agreement. Collateral is held in a smart contract and is subject to liquidation if the Collateral Ratio falls below the applicable minimum threshold.
Collateral Ratio The ratio of the value of Collateral deposited to the outstanding amount of a Credit Line, as determined by the relevant smart contract using on-chain price oracles. Borrowers must maintain the Collateral Ratio above the applicable minimum threshold at all times. Failure to do so may trigger liquidation.
Credit Line (also: Secured Line of Credit, Line of Credit) A revolving credit facility deployed and managed via smart contracts through the Credit Coop Protocol, accessible to Borrowers through the Interface. Credit Lines may be funded directly by individual Lenders or allocated from a Vault.
Due Date The date by which a Credit Line must be fully repaid, as specified in the relevant smart contract or Loan and Security Agreement. Failure to repay by the Due Date may trigger the liquidation process.
Interface The Credit Coop web-based interface and associated software tools provided by CMBT Labs to enable Users to interact with the Credit Coop Protocol. Available at app.creditcoop.xyz. Also referred to as the "Services" in the Terms of Use.
Lockbox Foundation A Cayman Islands foundation company that stewards and operates the Credit Coop Protocol. Lockbox Foundation may act as lender of record under separate Loan and Security Agreements entered into directly with Borrowers. Lockbox Foundation is not a party to the Terms of Use and does not operate the Interface.
Protocol (also: Credit Coop Protocol) The Credit Coop decentralised smart contract protocol, comprising the Vault, Line, Spigot, and associated smart contracts deployed on public blockchain networks. The Protocol is stewarded and operated by Lockbox Foundation.
Reserves Digital Assets held in a Borrower's reserve smart contract position following transfer from Revenue Contracts. Reserves may be applied to repay Credit Lines or, where not required for repayment, withdrawn to the Borrower's Wallet.
Revenue Contracts Smart contracts or wallet addresses designated by a Borrower to receive receivables or other cash flows, and configured as a repayment source in conjunction with the Spigot smart contract.
Servicer The party designated by Lockbox Foundation to execute smart contract interactions and operational functions within the Credit Coop Protocol in accordance with approved protocol parameters. CMBT Labs may act as Servicer in its technical and operational capacity as DevCo for the Protocol. The Servicer role is modular and may be performed by one or more parties.
Services The software interface, non-custodial tooling, and associated access layer provided by CMBT Labs to enable Users to interact with the Credit Coop Protocol, as described in the Terms of Use.
Vault A pooled smart contract structure that accepts stablecoin deposits and allocates capital to Credit Lines and sources of liquid asset yield within the Protocol. Vaults are managed by Vault Curators. Vault Depositors receive Vault Tokens representing their pro rata participation.
Vault Token A blockchain-based token representing a Vault Depositor's pro rata participation in a Vault, redeemable for the underlying stablecoin subject to available liquidity. Vault Tokens are issued automatically upon deposit.
Last updated
Was this helpful?