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13. Jargon → Plain Language (Glossary)

  • CPP: A set of contracts that list vouchers, set values, limit swaps, charge fees, and safely hold assets.
  • Voucher: A digital claim for a specific good/service/cash-equivalent.
  • Seed (Deposit): Add vouchers/tokens into a pool.
  • Swap: Exchange one voucher/asset for another if values and limits allow and inventory exists.
  • Value Index: The pool’s pricing table for vouchers vs. a reference unit (may use oracles or governance updates).
  • Swap Limiter: Caps on how much can be swapped over time to prevent runs/arbitrage.
  • Router: Software/contract that finds multi-pool paths for a desired exchange.
  • Inventory: What the vault currently holds and can pay out.
  • Guarantor: A party that stakes collateral to back a voucher/pool against default.
  • Redemption SLA: Expected time to receive the good/service/cash when redeeming a voucher.
  • Clearing House (CLC Pool): Network account that collects fees, holds reserves, funds LP programs, and pays insurance.
  • Fee-credit (budget-exit): A time-bounded, policy-capped authorization (typically via sCLC) to swap fee assets out of designated fee-holding vaults after the Waterfall. It may be set to zero and is not a dividend, yield, or profit-share.
  • Rebalancing / Netting Run: A batch process that executes multilateral cycles/chains across opted-in pools to reduce inventory imbalances and increase successful settlement throughput, subject to published caps and policies.
  • On/Off-Ramp: A regulated service that converts fiat ↔ approved stable cash-equivalents used to seed or exit pools (e.g., bank transfer, e-money/payment institutions, card-based cash-out), subject to jurisdictional compliance.