DeFi 3.0 Glossary

APR, Annual Percentage Rate

The annualised interest rate, not accounting for compounding.

APY, Annual Percentage Yield

The annualised interest rate, accounting for compounding.

BCV, Bond Control Variable

The scaling variable controlling bond prices. A higher BCV means a lower discount to bonders and higher inflation of the protocol. A lower BCV means higher discount for bonders and lower inflation of the protocol.

DAO, Decentralised Autonomous Organisation

A governance mechanism by which decisions are more trustless and collaborative. Votes are made using a governance token, in our case sSPA.

PCV, Protocol-Controlled Value

The value of the treasury that is controlled by the protocol. A higher value is better.

POL, Protocol-Owned Liquidity

The amount of its own liquidity the protocol owns. Higher is better.

RFV, Risk-Free Value

The amount of funds the treasury guarantees as backing for SPA.


Total Value Locked The total sum of the value staked in the SPARTACUS DAO in Dollars. A growing TVL is a sign of growth.

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