UI Language

These term definitions are understood in the context of the public interface at Swivel.finance.

Lend

You can lend Underlying assets by placing a Fixed Yield order.

Order

In the Front End context, an Order is any valid Market Order or Limit Order placed on a given Market to lend, buy or sell Underlying or Token assets.

Orderbook

The table of valid, open Orders for a given Market

Fill

Fill orders are Orderbook Orders that fulfill your Market Order or Limit Order partially or in full.

Fixed Yield

A Fixed Yield order uses the Swivel protocol to give the user an immediate yield for lending Underlying assets. When a Fixed Yield order is filled, Swivel mints an equal amount of YT and PT on the Underlying, leaving the PT in your balance and immediately selling the YTs on the Orderbook, and returning the Underlying to your Balance.

Amplified Yield (deprecated: 'Floating')

An Amplified Yield order purchases YTs from the marketplace and adds them to your Balance, where they will continue to earn a variable yield until the given Market matures.

Sell

You can sell your YTs or PTs back to the Orderbook at any time with a Sell order.

Market Order

Placing an Order as a Taker, transacting at the best available price on the Orderbook.

Limit Order

Placing an Order as a Maker, transacting at a determined price for the given order type and Market. Valid unfilled Limit Orders appear in your Open Limit Orders view. Depending on Order size and Orderbook volume, Limit Orders may be filled partially over an undetermined amount of time.

Position

The current state of your balance of Underlying and Token assets, for all active Markets you participate in.

Principal

• Buy Amplified Yield -> Principal is amount of yield exposure (YT) purchased.

• Buy Fixed Yield -> Principal is amount of Underlying lent.

• Sell YT -> Principal is amount of YT sold.

• Sell PT -> Principal is amount of PT sold.

Premium

• Buy Amplified Yield -> Premium is amount of underlying spent on yield exposure (YT).

• Buy Fixed Yield -> Premium is amount of generated yield, expressed in underlying asset.

• Sell YT -> Premium is the amount of generated yield, expressed in underlying asset.

• Sell PT -> Premium is price per underlying received when full.