> ## Documentation Index
> Fetch the complete documentation index at: https://docs.rosetta.sh/llms.txt
> Use this file to discover all available pages before exploring further.

# Glossary

> Glossary

| Term                 | Definition                                                                                                                   |
| -------------------- | ---------------------------------------------------------------------------------------------------------------------------- |
| Actionable Yield     | Estimated APY after accounting for margin impact of a deposit. What you will actually earn, not what is currently displayed. |
| Adaptive Curve IRM   | Interest rate model that automatically adjusts its target rate based on market behavior over time.                           |
| APY                  | Annual Percentage Yield. The annualized return on supplied assets, including compounding.                                    |
| Block-Level Indexing | Computing protocol state at every block rather than only when transactions occur.                                            |
| Borrow APY           | The annualized rate borrowers pay on borrowed assets.                                                                        |
| Collateral           | Asset locked by borrowers to secure a loan.                                                                                  |
| Curator              | Entity managing a vault's allocation strategy and risk parameters.                                                           |
| Deposit Queue        | The order in which a vault allocates new deposits across its underlying markets.                                             |
| EOA                  | Externally Owned Account. A standard wallet controlled by a private key.                                                     |
| Event-Based Indexing | Updating state only when on-chain transactions occur. Misses continuous interest accrual between events.                     |
| IRM                  | Interest Rate Model. Algorithm that determines borrow and supply rates based on utilization.                                 |
| Liquidation          | Process where a borrower's collateral is seized when their position exceeds LLTV threshold.                                  |
| LLTV                 | Liquidation Loan-to-Value. The threshold at which a borrowing position becomes liquidatable.                                 |
| Loan Asset           | Asset that lenders supply and borrowers receive.                                                                             |
| Main Wallet          | User's externally owned account (EOA) that controls the smart account and receives withdrawals.                              |
| Margin Impact        | The change in APY caused by a deposit or withdrawal affecting utilization.                                                   |
| Market               | An isolated lending pool defined by a collateral/loan asset pair and risk parameters.                                        |
| Market Allocations   | Distribution of a vault's deposits across its underlying markets.                                                            |
| Oracle               | Price feed used to value collateral and determine liquidation eligibility.                                                   |
| Policies             | On-chain rules defining which vaults and assets the Router can access for a user.                                            |
| Policy Upgrade       | Process of updating smart account permissions to access new assets or vaults. Requires user signature.                       |
| PPS                  | Price Per Share. The value of one vault share in terms of the underlying asset. Total assets divided by total shares.        |
| Rate At Target       | The interest rate at target utilization (typically 90%). The anchor point for IRM calculations.                              |
| Rebalancing          | Moving capital from one vault to another when a better yield opportunity exists.                                             |
| Routing Signal       | Decision output from the Router indicating deposit, rebalance, or hold.                                                      |
| Shares               | Tokens representing proportional ownership in a vault or market position.                                                    |
| Smart Account        | User-owned contract that holds routed funds and executes transactions. Also called sub-account.                              |
| Supply APY           | The annualized rate lenders earn on supplied assets.                                                                         |
| Supply Caps          | Maximum deposits a vault will accept per market.                                                                             |
| Target Utilization   | The utilization rate an IRM optimizes toward, typically 80-90%.                                                              |
| Total Assets         | The total value a vault holds across all its market positions.                                                               |
| Total Shares         | Outstanding vault shares representing all depositor claims.                                                                  |
| Utilization          | Ratio of borrowed assets to supplied assets in a market.                                                                     |
| Vault                | Aggregation layer that allocates deposits across multiple markets according to a curator's strategy.                         |
| Withdraw Queue       | The order in which a vault sources funds for withdrawals from its underlying markets.                                        |
| aToken               | Interest-bearing token received when supplying assets to Aave. Represents deposit plus accrued interest.                     |
| Base                 | Ethereum L2 chain supported by Rosetta alongside HyperEVM. Supports Morpho vaults with USDC.                                 |
| Chain Selector       | UI component for switching between supported chains (HyperEVM, Base).                                                        |
| Circular             | DeFi risk intelligence platform with 26 analytical tools for risk monitoring, portfolio optimization, and scenario analysis. |
| Aave                 | Pooled lending protocol. Rosetta routes to Aave supply markets alongside Morpho vaults.                                      |
| Liquidity Index      | Aave's mechanism for tracking cumulative interest accrual. A monotonically increasing multiplier applied to scaled balances. |
| Multi-Chain          | Rosetta's ability to route capital and track yields across multiple blockchain networks simultaneously.                      |
| Terminal             | Aggregated yield dashboard showing lending, vault, and options opportunities across multiple protocols.                      |