Delta-Neutral
Delta-Neutral
A strategy that aims for near-zero exposure to price movements of an underlying asset.
ERC-4626
ERC-4626
A standard for tokenized vaults that represent shares of a single underlying ERC-20 asset, providing a unified API for yield-bearing vaults.
Flash Loan
Flash Loan
An uncollateralized loan that is taken out and paid back within the same blockchain transaction.
Intent
Intent
A signed, user-defined preference (e.g., risk profile) that guides automation.
Intent Engine
Intent Engine
The core automation component of Blend that orchestrates capital deployment and rebalancing based on user intents and market conditions.
IRM (Interest Rate Model)
IRM (Interest Rate Model)
A smart contract or algorithm that determines the interest rates for borrowing and lending in a DeFi protocol, typically based on utilization.
LST (Liquid Staking Token)
LST (Liquid Staking Token)
A token that represents a user’s staked assets in a proof-of-stake network (e.g., stETH). It allows users to gain liquidity on their staked funds.
LTV (Loan-to-Value)
LTV (Loan-to-Value)
The ratio of a loan to the value of the collateral securing it.
Morpho
Morpho
A DeFi protocol that enhances interest rates on other lending protocols like Aave or Compound. Blend integrates with Morpho for its delta-neutral strategies.
Non-Custodial
Non-Custodial
Users retain full control over their private keys and, therefore, their assets. Blend does not take custody of user funds.
Paymaster
Paymaster
A smart contract that pays for transaction gas fees on behalf of users, abstracting away the need for users to hold the native network token.
Pegin
Pegin
The process of transferring an asset from one blockchain (like Bitcoin) to a sidechain or layer-2 network (like Botanix).
Safe
Safe
A Gnosis Safe smart contract account that holds a user’s funds, requiring one or more signatures to execute transactions.
Toxicity
Toxicity
Market conditions driven by MEV or manipulation that increase the risk of adverse selection, unstable borrow curves, or outsized price impact.
UTXO (Unspent Transaction Output)
UTXO (Unspent Transaction Output)
The amount of digital currency remaining after a cryptocurrency transaction is executed. Blend’s indexer monitors for these on the Bitcoin network.
Zodiac Roles Module
Zodiac Roles Module
A Gnosis Safe module that enables fine-grained, role-based permissioning for what actions a delegated address (like Blend’s automation) can perform.