Glossary

Some terms used throughout the documentation may be unfamiliar to our readers. Below, we list some common terms that will help you with your understanding.

If you still have some questions, or need some support, please do not hesitate to reach out on the Standard community Discord server 🕹️.

Term	Description
Collateral	Cryptocurrency asset (USDC, DAI, wETH, wBTC, ...) held in reserves supporting the value of the stablecoins issued by the protocol.
💱 User	Someone using the protocol to get stablecoins from collateral or to redeem collateral from stablecoins. This is sometimes used interchangeably with the terms stable seeker (for someone willing to get stablecoins) or stable holder (for someone owning Angle's stablecoins).
Collateral Ratio	Ratio between the total value of collateral backing a stablecoin, and the total supply of this stablecoin. The value of the collateral is expressed in the related stablecoin.
🔮 Perpetual Futures	Contracts taken by HAs in the protocol, to non-optionally buy a given collateral at an unspecified point in the future. Perpetual futures are financial instruments that try to follow the price of an underlying, and are used by traders to take leveraged positions. More details about such products can be found here.
Interests Accumulated	For a given collateral/stablecoin pair, it refers to the transaction fees and yield from lending that have been redistributed in the corresponding pool. Not all interests accumulated by a pool are distributed to SLPs, a portion directly goes to the protocol's surplus.
MTR Tokens	Tokens representing Angle stablecoins. They can be minted or burnt by swapping with a whitelisted collateral. Tokens start with ag followed by the asset to which they are pegged to, like agEUR or agJPY. Ag stands for Angle.
LTR Tokens	Angle LP Tokens distributed to SLPs bringing collateral to the protocol for a given stablecoin/collateral pair. These tokens share some similarities with Compound's cTokens. sanDAI_EUR are for instance the tokens given to SLPs bringing liquidity to the DAI/agEUR pair. These tokens can be exchanged back at any point in time against collateral at an exchange rate that varies in function of the interests accumulated. They are ERC20 tokens that automatically accrue yield.
📈 Strategy	Smart contract defining strategies to earn yield from Angle collateral reserves for each stablecoin/collateral pair. They can involve lending to platforms like Aave or Compound, and are inspired by Yearn vaults strategies.
💹 Debt Ratio	For a strategy used for a stablecoin/collateral pool, it refers to the ratio between how much of a collateral is deployed in a strategy and the total amount of collateral tied to the pool the strategy relates to. This total amount includes the amount in the contract corresponding to the pool and the sum of the amounts given to related strategies. Each strategy of the protocol has a target debt ratio.
🔱 Oracle	Oracles are third-party services that allow smart contracts within blockchains to receive external data from outside of their ecosystem. They are mainly used to make cryptocurrency market prices available and usable on-chain. The protocol relies on Chainlink and DIA oracles separately.