Glossary

Dai Glossary

General

• guy, usr: some address
• wad: some quantity of tokens, usually as a fixed point integer with 10^18 decimal places.
• ray: a fixed point integer, with 10^27 decimal places.
• rad: a fixed point integer, with 10^45 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

• CDP: Collateralised Debt Position

• gem: collateral tokens

• dai: stablecoin tokens

• sin: anticoin tokens (system debt, not belonging to any urn)

• 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: outstanding stablecoin debt

• debt: the total quantity of stablecoin issued

• vice: the total quantity of system debt

• slip: modify a user's collateral balance

• flux: transfer collateral between users

• move: transfer stablecoin between users

• grab: liquidate a CDP

• heal: create / destroy equal quantities of stablecoin and system debt (vice)

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

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

• suck: mint unbacked stablecoin (accounted for with vice)

• 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

• dust: the minimum possible debt of a CDP

• 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

• fork: split a CDP - binary approval or splitting/merging CDP's

  • dink: amount of collateral to exchange
  • dart: amount of stablecoin debt to exchange

• wish: check whether an address is allowed to modify another address's gem or dai balance

  • hope: enable wish for a pair of addresses
  • nope: disable wish for a pair of addresses

Stability Fees - Jug

• duty: the stability fee

• base: global stability fee

• rho: when this collateral type was last collected from

• drip: determine the increase

Liquidations - Cat

• mat: the liquidation ratio

• chop: the liquidation penalty

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

• box: an upper limit on the total DAI needed to cover the debt and penalty fees on all active auctions

• bite: initiate liquidation of a CDP

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

Settlement - 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 - 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

• claw: reduces the amount of litter in the Cat's box

• 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

Global Settlement - End

• when: the time of settlement

• wait: the length of processing cooldown (allowing undercollateralised CDPs to be skimmed)

• debt: outstanding stablecoin supply, after system surplus/deficit has been absorbed

• tag: price per collateral type at time of settlement

• gap: shortfall per collateral considering undercollateralised CDPs

• fix: the cash price for an ilk (amount per stablecoin)

• bag: untransferrable stablecoins ready to exchange for collateral

• out: the amount of already exchanged stablecoin for a given address

• cage: freeze system, cancel flip/flop auctions, start the cooldown period

• cage(ilk): sets the settlement price for an ilk

• skim: cancels CDP debt, taking backing collateral but leaving excess

• skip: optionally cancel live auctions

• free: remove collateral from CDP

• thaw: fixes the total outstanding supply of stablecoin

• flow: calculates the fix price for an ilk, possibly adjusting cage price with surplus/deficit

• pack: put some stablecoin into a bag in preparation for cash

• cash: exchange some stablecoin from bag for a given gem, share proportional to bag size