diff --git a/DEVELOPING.md b/DEVELOPING.md
index cbfdfb38..aa3218b1 100644
--- a/DEVELOPING.md
+++ b/DEVELOPING.md
@@ -109,7 +109,7 @@ Finally, the quantity `dai` can be transferred between users with `move`.
 
 ### Rate
 
-The ilk quantity `rate` define the ratio of exchange
+The ilk quantity `rate` defines the ratio of exchange
 between un-encumbered and encumbered Debt.
 
 This quantity allows for manipulation of debt balances