ReferenceGlossary

Glossary

Technical terminology and definitions for RevvFi.

A

APR (Annual Percentage Rate)

The interest rate a lender quotes on an offer, stored in basis points. Each position accrues at its own quoted APR — never a shared or blended rate.

Auction Extension Window

The time window (15 minutes by default) within which a new bid pushes a liquidation auction’s endTime forward, preventing last-second sniping.

B

Basis Points (bps)

1/100th of a percent. 10000 bps = 100%. Used throughout RevvFi for APRs, collateral ratios, and fee percentages.

Bad Debt

The portion of a liquidated position’s debt not recovered by the auction’s winning bid. Recorded against the market and factored into the borrower’s reputation.

Borrow Asset

The token being lent/borrowed in a market (e.g. USDC).

C

Collateral Asset

The token a borrower posts as collateral against their debt (e.g. WETH).

Collateral Ratio

collateral value / debt owed, expressed in basis points. Must stay above minCollateralRatio to avoid restrictions, and above liquidationThreshold to avoid liquidation.

CollateralEscrow

The per-market contract (RevvFiCollateralEscrow) holding a borrower’s collateral and pricing it via Chainlink.

D

Dutch/English Hybrid Auction

RevvFi’s liquidation mechanism: a declining reference price (Dutch-style) that bidders can still outbid each other on before it settles (English-style), rather than settling instantly to the first bidder.

E

EIP-1167 (Minimal Proxy Clone)

The contract-cloning standard RevvFi’s Factory uses to deploy a new Market/Escrow/OfferBook/LiquidityQueue per market cheaply — each clone is ~100 bytes and delegates all logic to one shared implementation contract.

ERC-721

The NFT standard used for RevvFiPositionNFT — every lender position is a transferable token.

H

Health Factor

Informal term for a position’s collateral ratio relative to its liquidation threshold — “healthy” means well above it, “at risk” means approaching it.

L

Liquidation Threshold

The collateral ratio below which a position becomes eligible for liquidation.

LTV (Loan-to-Value)

The inverse framing of collateral ratio — how much can be borrowed against a given amount of collateral.

M

Market

A RevvFiMarket instance — one per borrower (a borrower can have more than one), holding that borrower’s positions, collateral, and offer book.

maxApr

A borrower-supplied ceiling passed to borrow(). If the weighted-average APR of the resulting fill would exceed it, the entire borrow reverts.

Min Collateral Ratio

The minimum collateral ratio a market enforces for new borrows and withdrawals.

O

Offer

A lender’s standing order in a market’s OfferBook: an amount, an APR, a seniority tier, and an expiry.

OfferBook

The per-market contract (RevvFiOfferBook) holding all active offers, bucketed by APR for efficient lowest-APR-first matching.

Oracle

A Chainlink AggregatorV3Interface price feed used by a market’s CollateralEscrow to value collateral.

P

Position

A single lender’s claim within a market — tracked by its own principal, its own APR, and its own accrual clock, and represented on-chain as a RevvFiPositionNFT.

Pull-Based Claim

RevvFi’s repayment model: a repayment credits each affected lender’s claimable balance, but never transfers tokens automatically — lenders call claimFunds() themselves.

R

Reputation Score

A borrower’s protocol-wide, on-chain score (0–1000), recalculated as (successfulLoans × 1000 / totalLoans) − (defaultedLoans × 50), clamped to [0, 1000].

Reserve Price

The floor price (80% of debt) a liquidation auction’s declining price will not drop below.

Risk Label

A letter grade (AAA/AA/A/B/C/D) derived from a borrower’s reputation score.

S

Seniority

A per-offer flag (0 = senior, 1 = junior) determining loss-absorption order during a liquidation shortfall — junior positions absorb losses first. It does not affect the order offers are matched in during a normal borrow (that’s purely lowest-APR-first).

Stale Price Threshold

The per-market maximum age (default 24 hours) a Chainlink price can be before RevvFiCollateralEscrow rejects it as stale.

W

Weighted-Average APR

The blended APR across all offers filled in a single borrow() call — used only to check against the borrower’s maxApr ceiling and in the Borrow/DrawdownExecuted events. It is never what an individual position actually accrues at; each position keeps its own quoted rate.

Related Concepts

Ethereum Terms

  • Address: 42-character identifier for accounts/contracts
  • Gas: Fee unit for computation
  • Proxy: Upgradeable/cloneable smart contract pattern (see EIP-1167 above)
  • Multisig: Wallet requiring multiple signatures to execute transactions

Next Steps

OverviewDeployment Info