Glossary
Important terms to know:
Term | Definition |
---|---|
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 Pools, 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 | An "LP" is generally referred to as a Liquidity Provider, or one who provides tokens as liquidity through DeFi. In the context of Autopilot, an LP is a participant that supplies ETH (or otherwise) to an Autopool. |
LAT | Liquid Auto Tokens (LATs) represent yield-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 target pool within an autopool set that may be the destination venue of a potential asset rebalance. |
Liquidation | In Autopilot terms, liquidation is the process of taking rewards from a given Destination and are auto-compounded back into WETH. |
Last updated