Eclipse AI
  • START HERE
    • What is Eclipse AI?
    • Why Eclipse AI?
    • Eclipse AI Model
    • FAQ
    • Glossary
  • Eclipse AI PRODUCTS
    • USD0 Stablecoin
      • Why USD0?
      • RWA Collateral
      • Flow & Architecture
        • RWA Aggregator
        • Mint USDO
        • Redeem USD0
        • Provide RWA collateral
    • USD0 Liquid Staking Token
      • Why USD0++?
      • USD0 Staking Module
      • USD0++ Characteristics
      • USD0++ Alpha Yield
      • Base Interest Guarantee (BIG)
      • Parity Arbitrage Right (PAR)
    • Eclipse Governance Token
      • Why ECLIPSE?
      • Why Is ECLIPSE Inherently Valuable?
      • ECLIPSE Tokenomics
        • Emission Model
        • Distribution Model
        • Contributor Token
      • ECLIPSE Staking Module
      • Eclipse Governance
  • RESOURCE & ECOSYSTEM
    • Whitepaper
    • USD0 Risk Policy
      • Financial Risk
        • Interest Rate Risk
        • FX Risk
        • Credit Risk
        • Insurance Fund
      • Third Party Risk
        • Counterparty Risk
        • Liquidity Risk
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Last updated 4 months ago

Glossary of Eclipse AI Protocol Terms

Alpha Yield (α-yield): The rewards from Liquid Staking Token that are given in ECLIPSE tokens, linked to the success of the protocol

Collateral Provider (CP): An entity that supplies the protocol with liquidity in the form of RWAs or other assets, facilitating the issuance of USD0.

Deposit: The action of transferring assets into the Eclipse AI protocol in exchange for USD0.

Direct Mint: A method where users deposit an eligible Real World Asset (RWA) into the protocol to receive an equivalent amount of USD0 on a 1:1 basis.

Fiat Currency: Government-issued currency that is not backed by a physical commodity but rather by the state that issued it. Examples include the US dollar, Euro, and Yen.

Indirect Mint: A method where users deposit USDC or USDT into the protocol to receive USD0 on a 1:1 basis. In this method, a third-party collateral provider supplies the necessary RWA collateral, enabling users to obtain USD0 without directly handling RWAs.

Liquid Staking Token (LST): These tokens are composable, transferable, and tradable at market value. They reward holders with ECLIPSE tokens. The Liquid Staking ticker is simple, adding "++" to the end of the USD0 ticker.

LDT (Liquid Deposit Token): Represents a user's deposit within the Eclipse AI protocol, backed 1:1 by the deposited asset and fully redeemable under normal conditions, providing a liquid and secure claim on the protocol.

Money Market Funds (MMFs): Mutual funds that invest in short-term, high-quality debt securities, aiming to offer high liquidity and low risk.

Parity Arbitrage Right (PAR): A mechanism allowing the protocol to maintain LST value by enabling interventions under certain market conditions.

Pre-launch Phase: The initial stage before the full public launch of the Eclipse AI protocol, during which participants can connect to the platform, help establish the foundational Total Value Locked (TVL), and obtains Pills.

Price Stability Module: Ensures efficient USD0 minting by managing collateral provided by CPs, maintaining market stability and accessibility.

Redeem Primary: The process of directly withdrawing the Real World Asset (RWA) that backs your LDT tokens at Eclipse AI's counter, converting digital holdings into physical assets.

Redeem Secondary: The process of selling your LDT, such as USD0 tokens, for USDC or USDT on the secondary market. USD0 is fully redeemable at Eclipse AI's counter, maintaining a stable 1:1 peg with the underlying asset through continuous arbitrage opportunities.

RWA Collateral: Real World Assets used to back USD0, consisting of highly liquid, low-risk assets like US Treasury Bills.

Token Swap: The exchange of one type of token for another within the Eclipse AI platform, facilitated by the Eclipse AI Counter, allowing users to adjust their holdings to meet their investment strategies or liquidity needs.

USD0: The first Liquid Deposit Token (LDT) on Eclipse AI, serving as the native stablecoin and backed by Real World Assets (RWA) to ensure stability and reliability.

USD0++: The first Liquid Staking Token (LST) on Eclipse AI, representing an enhanced version of USD0 that is locked to accrue additional rewards. It can be redeemed at maturity or traded at any time at market value.

Eclipse AI Counter: The operational hub within the Eclipse AI dApp where users manage deposits, withdrawals, and token swaps.

Eclipse AI Deck: Investment platform within Usual where users can make their LDTs productive by converting them into LSTs or providing liquidity.

Usual Labs: The collective behind the Eclipse AI protocol, consisting of experts focused on protocol integrity, governance, and development.

Eclipse AI Vault: Secure on-chain storage for collateral assets, providing transparency and real-time management of assets backing LDTs.

ECLIPSE: Governance and reward token of the Eclipse AI protocol, used for making governance decisions and distributing protocol rewards.

Withdrawal: The process of redeeming Liquid Deposit Tokens (LDTs) at the Eclipse AI protocol to reclaim the underlying assets, ensuring users have continuous and direct access to their investments.

U.S. Treasury Securities: Debt obligations issued by the U.S. Department of the Treasury, considered very low-risk investments because they are backed by the full faith and credit of the U.S. government.