🌐Glossary

APR

Annual Percentage Rate, is the annualized interest rate without taking the effect of compounding into account.

APY

Annual Percentage Yield, is the normalized representation of an interest rate, based on a compounding period over one year. Note that APYs provided are rather ballpark level indicators and not so much precise future results.

AUM

Assets under management (AUM) is the total market value of the assets that is managed on the METF platform.

DAO

Decentralized Autonomous Organization, is a governance mechanism for making decisions in a more trustless and collaborative way. Voting rights are often bound to a governance token. In MM ETF the governance token is METF, and we expect the voting page to be up as soon as possible, stay tuned!.

Liquidity Bonds

Liquidity bonds are all the bonds that allows users to mint METF using LP token. An Example is METF-MMF LP bonds.

PCV

Protocol Controlled Value, is the amount of funds the protocol AUM owns and controls. The more PCV the better for the protocol and its users.

POL

Protocol Owned Liquidity, is the amount of LP the protocol AUM owns and controls. The more POL the better for the protocol and its users.

Reserve Bonds

Reserve bonds are all the bonds that allows users to MINT METF using single assets. They are sometimes referred to as "naked" bonds. Examples are MMF bonds.

Backing per METF

Backing per METF, is the amount of funds the protocol AUM guarantees to use for backing MMF.

LP

Liquidity Provider token, is the token received when providing liquidity on DEXs. For instance liquidity bonds will require require LP tokens of the METF-MMF pair from MM.Finance.

TVL

Total Value Locked, is the dollar amount of all METF staked in the protocol. This metric is often used as growth or health indicator in DeFi projects.

TWAP

Time Weighted Average Price, is the average price of an asset over a specified time. TWAPs are used to represent the fair value of an asset as defined by the market.