Glossary

Term	Definition
Annual Percentage Yield (APY)	This is the yield (represented in APY terms) that Vault Creators offer to subscribers in the vault. The APY represents the annual return obtained by consistently purchasing the product at the specified yield throughout an entire year. APY formula: Yield / (Expiry Date - Today ) x 365
Linked Price	The Linked Price is the target price for buying or selling a token asset in a Dual Currency Investment (DCI) vault, set by the Vault Creator. The Linked Price serves as the trigger for a potential token swap at the vault’s expiration. If the market price of the asset reaches or exceeds the Linked Price at expiration, a swap occurs between the Investment Token (provided by the Vault Subscriber) and the Linked Token (provided by the Vault Creator). If the Linked Price is not reached, no swap happens.
Investment Token	The Investment Token is the token that a user deposits when he subscribes to a vault.
Linked Token	The Linked Token is the token that the Subscriber will receive if the Linked Price is reached, and a swap happens.
Buy Low Vault	Buy Low Vaults allow Vault Subscribers the opportunity to buy the Linked Token at a specific price in the future. Subscribers deposits stablecoins (USDC) as an investment token.
Sell High Vault	Sell High Vaults allows Vault Subscribers the opportunity to sell their Investment Token at a specific price in the future. Subscribers deposits crypto assets (eg: ETH) as an investment token.
Direction	This refers to the strategy of the vault, which is either of the following: 1. Buy Low Vault 2. Sell High Vault
Expiry/Expiration Date	The date on which the vault expires. All vaults on a given date expire at 16:00 UTC +8.
Vault Creator	A Vault Creator, also known as the Liquidity Provider (LP), is a firm or individual who provides the liquidity and creates a vault.
Vault Subscriber	A Vault Subscriber is a user who deposits investment tokens into a Dual Currency Investment (DCI) vault to participate in its strategy. Depending on the vault strategy (Buy Low or Sell High), the Vault Subscriber contributes the Investment Token for a chance to buy the Linked Token at or below the Linked Price (Buy Low) or sell their Investment Token at or above the Linked Price (Sell High) upon the vault’s expiration. Vault Subscribers earn yields on their deposits regardless of whether the target Linked Price is reached.
Market Price at Expiration	The first valid oracle price of Ethereum within the last 1 minute after 16:00 UTC+8 on the Expiration Date. This price is used to determine the vault's settlement state based on the vault's parameters.
Market Price at Subscription	The market price of the crypto asset (eg; ETH) at the time when the user subscribes to a vault.
Price Oracle	A price oracle is a source of price data streamed onto the blockchain. Prodigy.Fi uses Chainlink and Pyth Network to obtain accurate real-time asset prices.
Quantity	The maximum deposit size for the Investment Token for a vault. This is set by the Vault Creator.
Remaining Quantity	The Remaining Quantity is the amount of liquidity left in a vault that is not yet subscribed to.
Yield	The rewards earned for depositing into a vault. Reward formula: Subscription Amount * APY
Smart Contract	Smart Contracts are simply programs stored on a blockchain that run when predetermined conditions are met. They are typically used to automate the execution of an agreement so that all participants can be immediately certain of the outcome, without any intermediary’s involvement or time loss. They can also automate a workflow, triggering the next action when conditions are met.
Subscription Date	The date and time when a subscription to a vault is accepted.
Subscription Deadline	The date and time when the vault stops accepting new subscriptions.
Vault Address	The vault's smart contract address.