Glossary

Dai Glossary

General

• guy: some address
• wad: some quantity of tokens
• ray: a fixed point integer, usually given by 10^27 decimal places.
• file: administer some configuration value

Auth

• auth: check whether an address can call this method
• ward: an address that is allowed to call authed methods
• rely: allow an address to call authed methods
• deny: disallow an address from calling authed methods

CDP Engine - vat.sol/Vat

• CDP: Collateralised Debt Position

• gem: collateral tokens

• dai: stablecoin tokens

• sin: anticoin tokens

• ilk: a collateral type

  • rate: stablecoin debt multiplier (accumulated stability fees)
  • take: collateral balance multiplier
  • Ink: total collateral balance
  • Art: total stablecoin debt

• init: create a new collateral type

• urn: a specific CDP

  • ink: collateral balance
  • art: stablecoin debt

• debt: the total quantity of stablecoin

• vice: the total quantity of anticoins

• slip: modify a user's collateral balance

• flux: transfer collateral between users

• move: transfer stablecoin between users

• tune: administer a CDP

• grab: liquidate a CDP

• heal: create / destroy equal quantities of stablecoin and anticoin

• fold: modify the debt multiplier, creating / destroying corresponding debt

• toll: modify the collateral multiplier, creating / destroying corresponding collateral

• spot: collateral price with safety margin, i.e. the maximum stablecoin allowed per unit of collateral

• line: the debt ceiling for a specific collateral type

• Line: the total debt ceiling for all collateral types

• frob: modify a CDP

  • lock: transfer collateral into a CDP
  • free: transfer collateral from a CDP
  • draw: increase CDP debt, creating Dai
  • wipe: decrease CDP debt, destroying Dai

• dink: change in collateral

• dart: change in debt

• calm: true when the CDP remains under both collateral and total debt ceilings

• cool: true when the stablecoin debt does not increase

• firm: true when the collateral balance does not decrease

• safe: true when the CDP's ratio of collateral to debt is above the collateral's liquidation ratio

Stability Fees - jug.sol/Jug

• tax: the stability fee

• repo: global stability fee

• rho: when this collateral type was last collected from

• drip: determine the increase

Liquidations - cat.sol/Cat

• chop: the liquidation penalty

• lump: the liquidation quantity, i.e. the fixed debt quantity to be covered by any one liquidation event

• bite: initiate liquidation of a CDP

• flip: liquidate collateral from a CDP to cover a fixed quantity of debt

Settlement - vow.sol/Vow

• sin: the debt queue

• Sin: the total debt in the queue

• Woe: the total non-queued non-auction debt

• Ash: the total on-auction debt

• Awe: the total debt

• Joy: the total surplus

• fess: add debt to the queue

• flog: realise debt from the queue

• wait: length of the queue

• heal: cancel out surplus and debt

• kiss: cancel out surplus and on-auction debt

• sump: debt auction lot size, i.e. the fixed debt quantity to be covered by any one debt auction

• bump: surplus auction lot size, i.e. the fixed surplus quantity to be sold by any one surplus auction

• hump: surplus buffer, must be exceeded before surplus auctions are possible

Auctions - {flip,flop,flap}.sol/Flipper,Flopper,Flapper

• flip: collateral auction (selling collateral for stablecoins)

• flop: debt auction (covering debt by inflating MKR and selling for stablecoins)

• flap: surplus auction (selling stablecoins for MKR)

• lot: quantity up for auction

• bid: quantity being offered for the lot

• tab: total dai to be raised (in flip auction)

• guy: high bidder

• gal: recipient of auction income

• ttl: bid lifetime

• beg: minimum bid increase

• tau: maximum auction duration

• end: when the auction will finish

• kick: start an auction

• tick: restart an auction

• tend: make a bid, increasing the bid size

• dent: make a bid, decreaseing the lot size

• deal: claim a winning bid