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Glossary
The words these docs use, in one place.
| Term | Meaning |
|---|---|
| Branch | Everything Plumb holds for one collateral: its troves, stability pool and fee state. Plumb has one branch, for JitoSOL. |
| Branch ratio | The value of all collateral backing debt divided by all debt, including interest not yet settled. New debt must leave it at 180% or more. |
| Bucket | The account that holds one rate's troves. There are sixteen. |
| Collateral ratio | A trove's JitoSOL value divided by its debt. |
| Debt ceiling | 10,000,000 PLMB. The branch takes no new debt beyond it. |
| Debt-free trove | A trove with JitoSOL and no debt, after full repayment, redemption or a liquidation surplus. Its owner can withdraw the JitoSOL any time. |
| JitoSOL | Jito's liquid staking token: staked SOL that earns rewards and can be traded. Plumb's only collateral. |
| LEAD | Plumb's token, 100,000,000 in total, all of it in one public launch. Staked LEAD receives the treasury's PLMB and votes on upgrades. |
| Liquidation | Closing a trove below 150%: the stability pool repays its debt and takes JitoSOL worth up to 110% of it. |
| Liquidation price | The JitoSOL price at which a trove would fall to 150%. |
| MCR | Minimum collateral ratio, 150%. |
| PLMB | Plumb's dollar stablecoin. |
| Rate | The annual interest a trove pays, one of 1% to 16%. Also called a tick: tick 0 is 1%. |
| Redemption | Burning PLMB for a dollar of JitoSOL per PLMB, less a fee, taken from the lowest-rate troves. |
| Redemption fee | At least 0.5%, rising with recent redemptions and halving every hour, at most 10%. |
| Redistribution | Sharing a liquidation's uncovered debt and collateral among the other troves. |
| Stability pool | PLMB deposits that repay liquidated debt, and earn 70% of interest and the JitoSOL from liquidations. |
| Stake rate | SOL per JitoSOL, read from the Jito stake pool account. |
| Treasury | The account that receives 30% of interest and rate-change fees, all paid out to staked LEAD. |
| Trove | A borrower's position: JitoSOL collateral, PLMB debt and a rate. |
# Glossary The words these docs use, in one place. | Term | Meaning | | --- | --- | | Branch | Everything Plumb holds for one collateral: its troves, stability pool and fee state. Plumb has one branch, for JitoSOL. | | Branch ratio | The value of all collateral backing debt divided by all debt, including interest not yet settled. New debt must leave it at 180% or more. | | Bucket | The account that holds one rate's troves. There are sixteen. | | Collateral ratio | A trove's JitoSOL value divided by its debt. | | Debt ceiling | 10,000,000 PLMB. The branch takes no new debt beyond it. | | Debt-free trove | A trove with JitoSOL and no debt, after full repayment, redemption or a liquidation surplus. Its owner can withdraw the JitoSOL any time. | | JitoSOL | Jito's liquid staking token: staked SOL that earns rewards and can be traded. Plumb's only collateral. | | LEAD | Plumb's token, 100,000,000 in total, all of it in one public launch. Staked LEAD receives the treasury's PLMB and votes on upgrades. | | Liquidation | Closing a trove below 150%: the stability pool repays its debt and takes JitoSOL worth up to 110% of it. | | Liquidation price | The JitoSOL price at which a trove would fall to 150%. | | MCR | Minimum collateral ratio, 150%. | | PLMB | Plumb's dollar stablecoin. | | Rate | The annual interest a trove pays, one of 1% to 16%. Also called a tick: tick 0 is 1%. | | Redemption | Burning PLMB for a dollar of JitoSOL per PLMB, less a fee, taken from the lowest-rate troves. | | Redemption fee | At least 0.5%, rising with recent redemptions and halving every hour, at most 10%. | | Redistribution | Sharing a liquidation's uncovered debt and collateral among the other troves. | | Stability pool | PLMB deposits that repay liquidated debt, and earn 70% of interest and the JitoSOL from liquidations. | | Stake rate | SOL per JitoSOL, read from the Jito stake pool account. | | Treasury | The account that receives 30% of interest and rate-change fees, all paid out to staked LEAD. | | Trove | A borrower's position: JitoSOL collateral, PLMB debt and a rate. |