This is a glossary of commonly used terms you will encounter throughout this documentation and on the platform.


Annual Percentage Rate

Yearly interest generated by a sum that's charged to borrowers or paid to investors. Does not take compounding interest into account.


Annual Percentage Yield

Real rate of return earned on an investment. Takes the effect of compounding interest into account.


Bond Control Variable

The variable that controls the price of bonds. The higher the BCV, the lower the discount to bonders and the higher the inflation of the protocol.


Decentralized Autonomous Organization

A democratic governance mechanism with trustless voting using a governance token, gMVD in Metavault's case.


Ethereum Virtual Machine


Protocol-Controlled Value

The value of the protocol's treasury. The PCV corresponds to the worth of the protocol.


Protocol-Owned Liquidity

The amount of liquidity in the protocol owned by the protocol itself.


Proof of Reserve

The mechanism by which the protocol strengthens the value of its reserve. This is done via the sale of bonds, in Metavault's case.

Reward Yield

The amount of MVD distributed to each valid staking position on each rebase. It is (almost) never precise due to staking fluctuations.


Risk-Free Value

The amount of funds in the treasury guaranteed to back MVD. The higher the RFV, the less likely is depreciation of MVD.


Total Value Locked

The total amount of value staked in the Metavault protocol. Can be used to assess the protocol's growth.


Time Weighted Average Price

An asset's average price over a certain time interval. Used to represent an asset's fair value as defined by the market.

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