Resources
Glossary
The words OMEGA uses, in plain English.
| Word | Meaning |
|---|---|
| ADA | Cardano's own currency, and what OMEGA's loans are backed by |
| Agreed price | The ADA price OMEGA uses: Pyth's, once the Minswap pools agree with it |
| Allowance slots | Ten slots holding the oUSD ceiling as room; new oUSD uses some up |
| Backstop | OMEGA's own stability pool deposit, never withdrawn |
| Borrow fee | The yearly rate on what you borrow, fixed for 90 days at a time |
| Ceiling | The most oUSD that loans can create in total |
| Governance | The 3-of-5 multisig that can adjust settings within hard limits |
| Hard limits | Bounds on every setting, written into the contracts for ever |
| Liquidation | Selling part of a loan's ADA to repay it, once its loan level passes 70% |
| Liquidation bonus | The discount on the ADA a liquidator receives: 5% to 10% |
| Loan level | What a loan owes as a share of its ADA's value |
| Notice period | How long a settings change must be announced before it applies |
| OMEGA | The protocol, and its token: 100 million, fixed |
| oUSD | OMEGA's dollar stablecoin |
| Owner NFT | The token in your wallet that controls your loan or pool account |
| Pause | Stops new borrowing only, and nothing else |
| Peg module | Swaps USDCx and oUSD one for one |
| Price guard | Keeps two hours of prices for the speed limit |
| Pyth | The oracle network that provides OMEGA's ADA price |
| Speed limit | Refuses borrowing when the price jumps more than 20% in two hours |
| Stability pool | Deposited oUSD that repays loans being liquidated |
| Term | 90 days, the period a loan's borrow fee is fixed for |
| USDCx | A dollar stablecoin on Cardano, used by the peg module |
| Warm-up | The days before new pool money shares in liquidations |