Definitions
Last updated
Last updated
Some terms used throughout the documentation may be unfamiliar to developers. Below we list some common terms that will help with your understanding.
If you need development support, join the #developers channel on our Vera community Discord server.
Roles
Investor: The user who provides funds as a loan to others, and gets interest.
Borrower: The user who puts NFT assets as a collator and takes a fund loan in exchange and pays interest.
Roles
Investor: Owner of NFT, who want to lease out their assets
Renter: The user who rent assets.
Term
Description
NFT
Non-fungible tokens are unique digital assets that cannot be cloned or replaced. Their chain of custody may be verified on a blockchain.
APY
Annual Percentage Yield, which is the yield/interest after a year, which includes compounding interest. Note that this is different from Annual Percentage Rate (APR), which does not take into account compounding effects.
