tangofinance
Skip to content
Documentation
    llms.txt

    Reference

    Glossary

    Plain definitions of the terms used across the tango.finance docs and app, from abandoned venue to Vault TVL, with links to the pages that explain them.

    View MarkdownAsk ChatGPTAsk Claude

    This page explains the terms used across the tango.finance docs and app. Each definition is short. Where a term has its own page or section, the definition links to it.

    Key points

    • The app names the stock and the action, such as "Supply AAPL". The smart contract that holds supplied stock is called a vault. Using a vault explains it.
    • Share value is counted in the stock. Debt and stablecoins sit in a separate stablecoin book.
    • The admin, curator and operator are roles in the vault's access manager. Profiles and access control explains each one.
    TermMeaning
    AbandonThe curator's way to remove a borrow venue that can no longer be read, writing off its collateral. See Borrow venue support.
    Access managerThe OpenZeppelin contract that decides who may call each restricted function, and with what delay.
    AdminThe top role. It holds the curator and operator roles at their delays, and removes either at once.
    Available to withdraw nowHow much of your stock the app can pay you in one transaction right now. See Withdraw in the app.
    Borrow venueOne position at a Morpho Blue or Aave v4 market, where the vault posts stock and borrows a stablecoin. See Borrow venue support.
    Borrowing APYYearly interest on the stablecoin borrowed, as a share of Vault TVL.
    CollateralSupplied stock posted at a borrow venue so the strategy can borrow against it.
    Curation serviceThe automated service that holds the operator role on tango.finance. See Profiles and access control.
    CuratorThe role that adds venues, stablecoins and price feeds and sets the fee, each behind its delay.
    Default stablecoinThe stablecoin the strategy borrows and keeps its book in, fixed at deployment.
    DeficitWhen the stablecoin book's debt exceeds its stablecoins and lending by more than rounding. Deposits and standard withdrawals stop.
    Deposit capThe most stock deposits may bring the total to. Harvests can take it higher, which stops deposits until the cap is raised. The curator raises it behind its delay, and the operator lowers it at once.
    DonateGiving the default stablecoin to the stablecoin book. Anyone can do it.
    ERC-4626The standard interface for tokenized vaults. The contract that holds supplied stock is one, and so is every lending venue.
    Forced withdrawalA withdrawal that releases collateral and repays debt in the same transaction. Any holder can call it. See Withdrawals.
    GuardianA role that removes the curator or the operator and cancels their scheduled changes, without delay. The admin holds both.
    HarvestTaking profit from the book, paying the performance fee and buying stock with the rest.
    Harvest toleranceThe most value a harvest may lose against oracle prices. The contract caps it at 5%.
    Idle stockSupplied stock held rather than posted as collateral. Standard withdrawals pay from it.
    Lending orderThe order in which forced withdrawals draw on lending venues. The operator sets it.
    Lending venueAn ERC-4626 vault for a stablecoin, where the vault lends and earns interest. See Lending venue support.
    LiquidationA borrow venue letting others repay part of a position's debt and take its collateral at a discount, once the position crosses the liquidation line.
    Loan-to-value (LTV)A position's debt divided by the value of its collateral.
    MerklA reward distribution service many money markets use to pay reward campaigns. See Reward claiming.
    Money Market APYLending income less borrowing interest, after the performance fee, as a share of Vault TVL.
    OperatorThe role that runs positions day to day without delay.
    Performance feeThe share of each harvest paid to the fee recipient. The contract caps it at 25%. See Fees.
    RebuyBuying back stock a liquidation took, from the surplus it left, with no fee.
    Release orderThe order in which forced withdrawals release collateral from borrow venues. The operator sets it.
    Share valueAll the stock held divided by the number of shares. No price is read.
    SharesThe ERC-20 token you receive when you supply, standing for your part of the stock.
    SpreadWhat the lending earns less what the borrowing costs.
    Stablecoin bookThe strategy's stablecoin side: idle stablecoins plus lending, less debt.
    StaleA price too old, or otherwise unreadable, to trust.
    SuppliedHow much stock your shares are worth now.
    SurplusProfit in the stablecoin book that a harvest may take.
    Swap toleranceThe most value a stablecoin swap may lose against oracle prices. The contract caps it at 5%.
    SwapperA small contract that runs the strategy's swaps. Only the contract that created it can call it.
    TimelockThe wait between scheduling a change and making it. See Timelocks.
    Tokenized stockA token that tracks one share of a listed company.
    Total APYMoney Market APY plus eligible rewards, after the performance fee.
    UnderlyingThe one stock each strategy holds.
    VaultThe smart contract, one per stock, that holds supplied stock and runs the strategy. See Using a vault.
    Vault TVLThe US dollar value of all of a stock that is supplied, including idle stock. Rates are measured against it.