Glossary

Term	Definition
annual percentage yield (APY)	Represents the annual return equivalent obtained by consistently purchasing the product at the specified yield throughout an entire year. APY formula: Yield / (Expiry Date - Today ) x 365
Buy Low	Buy Low vaults offer you opportunities to buy WBTC at a lower price in the future See also, Sell High.
deposit currency	The currency deposited when subscribing to a vault.
direction	The direction of the trade as either Buy Low or Sell High.
Expiry/Expiration Date	The date on which the vault expires. All vaults on a given date expire at UTC+08:00.
InputToken and SwapToken	Smart contract terms. The InputToken is the token deposited when subscribing to a vault. The SwapToken is the token that the Subscriber will receive if the Linked Price is reached.
Linked Price	A predetermined price level that you choose in advance for buying or selling an asset.
liquidity provider (LP)	A Liquidity Provider, or LP, is a firm or individual who provides the liquidity to create one or more vaults.
Market Price at Expiration	The last reported oracle price of Bitcoin within the last 30 minutes before 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 Bitcoin at the time when a user subscribed to a vault.
Oracle [ASSET] Price	The last reported oracle price within the last 30 minutes before 16:00 UTC+8 on the Expiration Date. See also Market Price at Expiration.
price oracle	A price oracle is a source of price data streamed onto the blockchain. Prodigy uses Chainlink Data Feeds to obtain accurate real-time asset prices.
Quantity	The maximum deposit size for the InputToken for a vault. This is set by the Liquidity Provider.
Remaining Qty	The Remaining Qty is equal to or less than the [maximum] Quantity set for the vault based on whether or not there have been subscriptions to the vault.
Reward	The interest earned for depositing into a vault. Reward formula: Subscription Amount * Yield
Sell High	Sell High vaults offer you opportunities to sell WBTC at a higher price in the future. See also Buy Low.
smart contract	Smart contracts are simply programs stored on a blockchain that run when predetermined conditions are met. They typically are 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 was accepted.
subscription deadline	The date and time when the vault stops accepting new subscriptions.
Vault ID	The unique ID for a given vault.
Yield	The earnings - expressed as a percentage - generated and realized on an investment.