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Glossary

Important terms to know:

TermDefinition

Autopilot

Comprised of a series of smart contracts, Autopilot is the primary system of Tokemak V2 that rebalances between a subset of given Autopool destinations. Autopilot introduces automated liquidity (autoLP) to DeFi, which connects liquidity previously isolated across different pools through autonomous LP rebalances.

Autopool

An ERC-4626 Tokenized Vault Standard pool within which user assets are deposited, which contains various different external destination contracts. Example destination contracts would be a Balancer or a Curve pool.

autoLP

Automated Liquidity Provision, used in reference to the network capabilities of assets deposited into Autopools and their corresponding yield bearing tokens

autoETH

autoETH is the yield-bearing Autopilot receipt token (also referred to as LAT) received after depositing ETH (or Wrapped ETH) into Autopilot's first Autopool, focused on LST-centric destinations.

autoLRT

autoLRT is a yield-bearing Autopilot receipt token for an LRT-based Autopool.

LP

Liquidity Provider, user who provides tokens as trading liquidity to exchanges. In the context of Autopilot, an LP is a participant that supplies ETH (or otherwise) to an Autopool.

LAT

Liquid Auto Tokens (LATs) are reward-bearing Autopool receipt tokens (e.g., autoETH). In essence, LATs are tokenized automated liquidity networks backed by LP positions. LATs enable a new kind of composability within DeFi, as a standalone token representing optimally deployed underlying liquidity.

LST

Liquid staking tokens (LST) are tokenized ownership claims on the ETH staked on the Consensus layer, such as stETH or rETH.

LRT

A liquid restaking token (LRT) is a token that gives users access to liquidity while participating in restaking.

Solver

The Solver is an off-chain component that proposes rebalance solutions to interchangeably convert assets and LP tokens, as well as LP token into other LP tokens. The rebalance solutions are proposed to the Strategy, once they satisfy the Strategy’s imposed on-chain constraints a rebalance takes place.

Strategy

The Strategy contract is responsible for determining if a given liquidity rebalance is in the best interest of an Autopool.

Rebalance

A deployment that occurs when: Idle assets move to a Destination, assets move from one Destination or another, or assets move from a Destination back to the idle state.

Destination

A liquidity pool within an Autopool set that may be the destination venue of a potential asset rebalance.

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