Annual Percentage Rate, is the annualized interest rate without taking the effect of compounding into account.


Annual Percentage Yield, is the normalized representation of an interest rate, based on a compounding period over one year. Note that APYs provided are rather ballpark level indicators and not so much precise future results.


Mint Control Variable, is the scaling factor at which mint prices change. A higher BCV means a lower discount for minters and higher inflation by the protocol. A lower BCV means a higher discount for minters and lower inflation by the protocol.


Decentralized Autonomous Organization, is a governance mechanism for making decisions in a more trustless and collaborative way. Voting rights are often bound to a governance token. In cunoro the governance token is ELABS by the DAO ecosis Laboratories.


Deflation Control Variable, is the scaling factor at which protocol defined buy pressure changes. A higher DCV means more buy pressure from the protocol, resulting in a higher deflation. A lower DCV means less buy pressure from the protocol, resulting in a lower deflation.


Ethereum Virtual Machine, is a state machine in which all Ethereum accounts and smart contracts live. At any given block in the chain, Ethereum has one and only one canonical state, and the EVM is what defines the rules for computing a new valid state from block to block.

Liquidity Mints

Liquidity mints are LP token mints. Examples are NORO-FRAX LP mints.


Protocol Controlled Value, is the amount of funds the treasury owns and controls. The more PCV the better for the protocol and its users.


Protocol Owned Liquidity, is the amount of LP the treasury owns and controls. The more POL the better for the protocol and its users.


Proof of Reserve, is the mechanism of strengthening the reserve of cunoro treasury via the sales of mints. Minters provide liquidity to the treasury, thereby building its reserve. In return for their service, minters get paid in NORO.

Reserve Mints

Reserve mints are single asset mints. They are sometimes referred to as "naked" mints. Examples are FRAX mints.

Reward Rate

Reward rate is the configured percentage of NORO distributed to all stakers on each harvest relative to the total supply. The reward rate is precisely set by the policy team.

Reward Yield

Reward yield refers to the actual amount of NORO received by each staker on each harvest. The reward yield is a rough target from a policy point of view. It can almost never be maintained precisely due to e.g. fluctuating amounts of NORO staked.


Risk Free Value, is the amount of funds the treasury guarantees to use for backing NORO.


Liquidity Provider, is the token received when providing liquidity on Dex. For instance LP mints require LP tokens of the NORO / FRAX pair.


Total Value Locked, is the dollar amount of all NORO staked in the protocol. This metric is often used as growth or health indicator in DeFi projects.


Treasury as a Service, is the business model of decentralized custody of partnership funds. cunoro is designed for TaaS by selling mints and absorbing partners' liquidity into its treasury as a result.


Time Weighted Average Price, is the average price of an asset over a specified time. TWAPs are used to represent the fair value of an asset as defined by the market.