A list of words and terms relating to the Angle Protocol
A cryptocurrency, or token, that is pegged to another asset. This means that the stablecoin in question is designed to mirror the value of the asset it is pegged to.
Angle stablecoins. agTokens are stablecoins issued by the Angle Protocol modules. They are named from the asset they are pegged to. For example, agEUR is pegged to the EUR.
A set of smart contracts interacting together for a specific use case.
Borrowing Module
A set of smart contracts that enable people to take agTokens loans against an excess amount of collateral deposited in the protocol.
A set of smart contracts that enable to mint agEUR at oracle value against whitelisted collateral assets like for instance other stablecoins.
The group of stakeholders in the Angle Protocol that decides of the upgrades and improvements made to the protocol. Currently, the Angle Governance is made up of the veANGLE holders, that is to say of holders of locked ANGLE tokens.
The original governance token of the Angle Protocol. More info in the ANGLE page.
Voting-esrowed ANGLE. They can be obtained by locking ANGLE from 1 week to 4 years. veANGLE can vote on governance proposals, get boosted rewards when participating in Angle staking contracts, and earn a share of the weekly interest generated by the protocol. More in the veANGLE page.
Acronym for Total Value Locked, the total amount of value locked up in smart contracts of the designated protocol.
Cryptocurrency asset (EUROC, USDC, wETH, wBTC, bC3M ...) held in reserves supporting the value of the stablecoins issued by the protocol. In the Borrowing module, collateral assets are the tokens users deposit into Angle Vaults to be able to borrow agTokens. If their debt becomes too big compared to their collateral, it can be taken from them to pay back the debt through a liquidation. In the Transmuter, collateral assets can be used to mint stablecoins at oracle value and with dynamic fees.
Collateral Ratio
Ratio between the total value of collateral backing a stablecoin, and the total supply of this stablecoin. The value of the collateral is expressed in the related stablecoin.
🔱 Oracle
Oracles are third-party services that allow smart contracts within blockchains to receive external data from outside of their ecosystem. They are mainly used to make cryptocurrency market prices available and usable onchain. The Borrowing module relies for instance on Chainlink, while the Transmuter can also rely on Pyth or Redstone oracles. Oracles are key in the Angle Protocol ecosystem. While some contracts of the protocol are not directly linked to oracles, the failure of the oracle contracts on which Angle is relying would prevent the protocol as a whole from functioning effectively.
🏭 Keeper
A keeper is an individual or a bot that carries out actions that are needed to keep the protocol functioning. They are usually incentivized to perform such actions. Angle Borrowing module needs keepers to process liquidations of unhealthy vaults.