> For the complete documentation index, see [llms.txt](https://paimon-finance.gitbook.io/paimon.finance/llms.txt). Markdown versions of documentation pages are available by appending `.md` to page URLs; this page is available as [Markdown](https://paimon-finance.gitbook.io/paimon.finance/appendix/glossary.md). # Glossary ## Token Terms | Term | Definition | | --------------- | ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | | **PP** | The on-chain ERC-20 symbol of the Paimon Prime Vault share token. The underlying contract is named `PPT` (Paimon Prime Token) — `PP` is what wallets and explorers display. ERC-4626 share representing a proportional claim on Vault NAV | | **PPT** | Source-code / audit name for the contract that issues PP shares (`src/ppt/PPT.sol`). Used interchangeably with PP when discussing the implementation | | **pSPCX** | Paimon Permissioned SpaceX SPV Token. EIP-3643 security token, KYC-gated transfer. Tokenizes a SpaceX SPV interest | | **xSPCX** | Paimon Tradable SpaceX SPV Token. Plain ERC-20 shadow of pSPCX, freely transferable, mint/burn restricted to `TokenBridge` | | **PaimonBadge** | Soulbound (non-transferable) ERC-721 NFT minted on Drop participation. Five badge types: Space Pioneer, AI Believer, Dual Holder, Top Referrer, Quest Master | | **CASH+** | External RWA token issued by CashPlus (price \~$107). Held by Prime Vault as a Tier-2 asset via `CashPlusAdapter` | ## Phase-2 Token Concepts (Not Deployed) | Term | Definition | | ------------- | --------------------------------------------------------------------------------------------------------------------------------------------------------------- | | `sPP` / `jPP` | Senior / Junior tranches of a future Tranche Vault. **No contract deployed**, no token issued | | `PAIMON` | Future governance + utility ERC-20. **Not yet issued**. The mainnet contracts named `PaimonTreasury` and `PaimonBadge` are infrastructure, not the PAIMON token | | `esPAIMON` | Escrowed PAIMON, design only | | `vePAIMON` | Vote-escrowed PAIMON, design only | ## Vault and Asset Terms | Term | Definition | | ---------------------- | -------------------------------------------------------------------------------------------------------------------- | | **Prime Vault** | The ERC-4626 vault that issues PP and holds the tiered RWA portfolio | | **NAV** | Net Asset Value per PP share, computed as `(grossAssets - liabilities - withdrawableFees) / effectiveSupply` | | **Effective Supply** | `totalSupply(PP) - totalLockedShares` — supply excluding shares pending redemption | | **Locked Shares** | PP shares marked locked because their owner has filed an active redemption request; excluded from NAV math | | **Gross Value** | Total fair value of underlying assets before deducting redemption liabilities and fees | | **L1 (`TIER_1_CASH`)** | Cash / instant-liquidity tier of the Vault portfolio | | **L2 (`TIER_2_MMF`)** | Money-market-fund tier (e.g. CashPlus) | | **L3 (`TIER_3_HYD`)** | "High-yield distribution" tier — long-duration RWA. Note: this is a **portfolio category label**, not a token symbol | ## Redemption Terms | Term | Definition | | ---------------------- | ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | | **Standard Channel** | `RedemptionChannel.STANDARD` — T+7 settlement, 0.5 % fee | | **Emergency Channel** | `RedemptionChannel.EMERGENCY` — instant settlement, 1.5 % total fee, capped by `emergencyQuota` | | **Scheduled Channel** | `RedemptionChannel.SCHEDULED` — reserved for windowed batches, not currently routed | | **Standard Quota** | `totalLiquidity × standardQuotaRatio` (default 7000 bps = 70 %) | | **Emergency Quota** | `emergencyQuota` storage variable on `PPT`, refreshed by KEEPER based on liquidity conditions | | **Approval Threshold** | Limit above which redemption requires KEEPER approval. Standard: 50,000 PP or 20 % of standard quota. Emergency: 30,000 PP or 20 % of emergency quota | | **Redemption Voucher** | ERC-721 issued by `RedemptionVoucher` (`0x73F42b0D…3514`) when a redemption's expected settlement extends beyond the standard window. Transferable claim on the pending redemption | ## Pre-Access / Compliance Terms | Term | Definition | | --------------------- | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | | **EIP-3643** | Ethereum standard for permissioned (regulated) tokens. Adds KYC-gated transfer, freeze, partial freeze, forced transfer, agent role | | **Shadow ERC-20** | A plain ERC-20 contract that mirrors a permissioned token; mint/burn restricted to a single Bridge contract; used to expose KYC-restricted assets to DeFi without modifying integrating protocols | | **TokenBridge** | The hub contract that holds the invariant `totalSupply(shadow) = locked(security) × ratio`. Manages N (security, shadow) pairs | | **KYCAggregator** | `IIdentityRegistry` implementation that ORs the verification results of one or more underlying providers. Used by both EIP3643Token transfers and TokenBridge redeems | | **SimpleKYCProvider** | A whitelist-style KYC provider with operator-managed verification status. One of the providers feeding into KYCAggregator | | **Forced Transfer** | EIP-3643 agent-only function that bypasses normal `_msgSender()` allowance checks. Used by `TokenBridge.deposit` to escrow security tokens, and by ops multisig for compliance-mandated movements | | **Partial Freeze** | EIP-3643 mechanism to lock a portion of a user's balance (`_frozenTokens[user]`) while leaving the rest transferable. Used for vesting schedules or compliance escrow | ## Launchpad Terms | Term | Definition | | ------------------ | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------ | | **Drop** | A single token-issuance event managed by `LaunchpadDrop`. Has an asset (`rwaToken`), a target raise (`totalUsdtTarget`), 4 layers, a commitment window, a sale window, and a refund window | | **DropPhase** | Drop lifecycle state: `Created → QuestActive → Snapshot → Commitment → LayerSale → Settled → Finalized` (or `Cancelled`) | | **Layer** | One of four pricing tiers within a drop. Each has independent `priceDiscount`, `pointsPerUsd`, `allocationBps`, `minUsdtRequired`, `perWalletCap`, sale window, and `SettlementMode` | | **SettlementMode** | `Batch` (keeper allocates on-chain in batches up to `MAX_BATCH_SIZE = 200`) or `MerkleClaim` (off-chain merkle root, user pulls via proof) | | **Snapshot** | Merkle-rooted commitment of points balances at the start of a drop, defining who qualifies for which layer | | **Refund Window** | Period during `Settled` phase when users with un-allocated commitments can `requestRefund` | | **PointsPerUsd** | The points-to-USDT exchange rate for a given layer. Higher value = stricter points gate at that layer | | **AllocationBps** | The layer's share of the total raise, in basis points. The four layers must sum to `BPS_BASE = 10000` | ## Points and Reputation | Term | Definition | | ------------------ | ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | | **PointsHubV2** | Aggregator that sums points balances across all registered modules. Holds the live total and tracks per-user already-claimed amounts | | **REWARD\_ROLE** | Permission on `PointsHubV2` allowing a contract to credit a user's points balance. Held by source modules (StakingModule, etc.) | | **DEDUCTOR\_ROLE** | Permission on `PointsHubV2` allowing a contract to debit a user's points balance. Held by sink contracts (LaunchpadDrop, PointsRedemption) | | **Boost** | Multiplier applied to points accrual for locked stakes. Linear from 1.02× (7-day lock) to 2.00× (365-day lock) in `StakingModule`. Subject to `MAX_EXTRA_BOOST = 10000` (= +1.00×) | | **Soulbound** | NFT property: non-transferable. Applied to `PaimonBadge` — once minted to a wallet, it stays with that wallet permanently | ## Operational Terms | Term | Definition | | -------------- | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | | **KEEPER** | Service-account role (`KEEPER_ROLE`) that signs on-chain operational transactions: approve/reject redemption, refresh emergency quota, advance drop phases, settle layers, configure assets | | **REBALANCER** | Service-account role for asset purchase / redeem / liquidation operations. Distinct from KEEPER per multisig-key separation | | **RBAC** | Off-chain role-based access control (SUPER\_ADMIN / FUND\_MANAGER / OPERATOR / AUDITOR / ANALYST) gating which humans can trigger which on-chain operations | | **Multisig** | Multiple-signer wallet holding `ADMIN_ROLE` / `DEFAULT_ADMIN_ROLE` on critical contracts | | **Timelock** | Delay-imposed wallet holding `UPGRADER_ROLE` on UUPS proxies | | **UUPS** | Universal Upgradeable Proxy Standard (EIP-1822). Used for upgrading PPT, RedemptionManager, AssetController, EIP3643Token, ShadowERC20, TokenBridge, LaunchpadDrop, etc. | ## Asset Terms | Term | Definition | | -------------- | ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | | **RWA** | Real World Assets — tokenized physical or financial assets backed by off-chain custody / legal structure | | **SPV** | Special Purpose Vehicle — a legal entity that holds a single asset (e.g. SpaceX equity) on behalf of its investors. Tokenization wraps an SPV interest into pSPCX | | **Pre-Access** | Paimon's product line for tokenized private-market equity — economic exposure to a private company ahead of any public listing (e.g. SpaceX). Distinct from RWA in that it is single-name rather than diversified | ## Abbreviations | Abbreviation | Full Form | | ------------ | ------------------------------------ | | AMM | Automated Market Maker | | APY | Annual Percentage Yield | | BPS | Basis Points (1 bps = 0.01 %) | | DEX | Decentralized Exchange | | ERC-4626 | Tokenized Vault Standard | | EIP-3643 | Permissioned Token Standard | | KYC | Know Your Customer | | LP | Liquidity Provider | | NAV | Net Asset Value | | RBAC | Role-Based Access Control | | RWA | Real World Asset | | SPV | Special Purpose Vehicle | | TVL | Total Value Locked | | UUPS | Universal Upgradeable Proxy Standard |