Glossary of Terms

$USC: $USC is a stable, overcollateralized cryptocurrency within the Cronos Ecosystem, maintaining a hard peg to the US dollar. It aims to function as a secure store of value, a means for transactions, and a unit of account for on-chain products, backed by more than a dollar's worth of collateral for each circulating $USC. [Get $USC]

CDCETH: CDCETH is the first token accepted as collateral within Orby Network. It is essentially a receipt token representing your staked Ether (ETH) and any accrued staking rewards. Read the official whitepaper here.

CDCBTC: cdcBTC is a token backed 1:1 by native Bitcoin (BTC), with the underlying BTC securely held in cold storage under Crypto.com’s custody. Read the whitepaper here.

LCRO: LCRO is a liquid staking token that represents staked CRO through Veno. It is a yield-bearing, auto-compounding asset, allowing users to passively earn staking rewards. Read more here.

Fees: Orby Protocol implements transaction fees which are applied to borrowing and redemptions. Every time new $USC is minted, users will incur a variable borrowing fee. Similarly, a variable redemption fee is charged every time the Redemption feature is used. There are no other fees charged on Orby.

Shuttle: A shuttle is similar to a collateral debt position (CDP), and is a segregated account where a user goes to create and maintain his loan. Each type of accepted collateral will have its own shuttle.

Borrowing Fee: a variable fee calculated as borrowing_amount * (BASE_RATE + 0.5%), with a maximum cap of 5%. These fees are applicable during regular operating conditions (i.e. Normal Mode).

Borrowing Fee (during Recovery Mode): Set at 0% to encourage borrowing.

Repayment Fee: There is no fee for debt repayment.

Redemption Fee: a variable fee calculated as redemption_amount * (BASE_RATE + 0.5%), capped at a maximum of 5%. These fees apply when users use the Redemption feature.

Liquidation reserve: Amount set aside as gas compensation in event of a liquidation. The reserve is currently set at 20 $USC. This reserve is otherwise not payable by the user and is burnt upon shuttle closure.

Collateral ratio: Defined as the dollar amount of collateral relative to the dollar amount of debt

Min collateral ratio per shuttle (MCR): The minimum level the collateral ratio must be maintained at to avoid liquidation. It varies based on the collateral type.

Minimum debt per shuttle: The minimum amount of debt needed to keep the shuttle open. This minimum borrow amount is currently set at 100 $USC.

Liquidation penalty: The percentage of collateral a liquidator will earn from liquidating a shuttle.

Collateral Details: Status monitors the Total Collateral Ratio (TCR) of each respective collateral in Orby’s ecosystem. Status is broken into 3 modes (Normal, Caution, Recovery), which vary depending on collateral. For example, the TCR for cdcETH is 150%. In such a case:

Parameters for cdcETH collateral	TCR Amount %
Recovery Mode	TCR < 150
Caution	150% < TCR < 190%
Normal	190% > TCR

Total Collateral Ratio (TCR): total dollar value of the respective collateral / total dollar value of the corresponding debt

TCR is collateral specific.

Min collateral ratio (MCR) per shuttle: The minimum level the collateral ratio must be maintained at to avoid liquidation. It varies based on the chosen collateral type.

Liquidation penalty: The percentage of collateral a liquidator will earn from liquidating a shuttle. The penalty is currently set at 0.5% of a liquidated user’s total collateral