Glossary
Blight Factor
The value adjusted by a gauge that changes the Mown Stalk penalty for Converting Deposited Pinto to Deposited LP tokens. Read more here.
Convert
Changing one Deposited asset for another within the Silo. Read more here.
Convert Down Bonus (Stalk Bonus)
A static Stalk bonus for a Convert down (Pinto → LP), currently 0 under all circumstances. Read more here.
Convert Up Penalty (Stalk Penalty)
A static penalty of 100% of Stalk accumulated from Seeds upon a Convert up (LP → Pinto) above $1. Read more here.
Crop Ratio
The ratio of Seed rewards between Pinto and the LP token with the highest Gauge Points per PDV. Adjusted via the Gauge System. Determines the relative benefits of holding Pinto exposure vs exposure to the LP token with the most Seeds in the Silo over time. Read more here.
Cultivation Factor
The value adjusted by a gauge that causes the Soil issued to increase as Pinto is Sown into all Soil, and decrease otherwise. Read more here.
Cultivation Temperature
The Maximum Temperature from the last Season in which Soil either sold out entirely or almost sold out and demand for Soil was steady or increasing. It is used to prevent instances where the protocol gets stuck oscillating the Maximum Temperature downward and the Cultivation Factor upward, and the Maximum Temperature upward and the Cultivation Factor downward. Read more here.
Cultivation System
Determines Soil issuance every Season relative to the maximum number of Soil the protocol would be willing to issue given its current state and infinite demand for Soil. It has three elements: the Cultivation Factor, the Cultivation Temperature, and two manipulation resistant thresholds to determine whether Soil sold out or almost Sold out in the previous Season. Read more here.
deltaP (∆P)
The shortage or excess of Pinto in a liquidity pool that Pinto trades in. TWA∆P is the time-weighted version of ∆P.
Delta Demand
The ratio of the change in Soil Sown into over the prior two Seasons. Used to measure Demand for Soil.
Deposit
Assets on the Deposit Whitelist can be Deposited in the Silo at any time to earn Stalk and Seeds. Read more here.
Deposit Whitelist
The whitelist of ERC-20 tokens that can be Deposited in the Silo. See the Deposit Whitelist here.
Depot
The component of the Toolshed that facilitates interactions with other protocols in a single transaction. Read more here.
Dynamic Convert Down Penalty
A dynamic fraction of Stalk accumulated from Seeds burned upon a Convert down (Pinto → LP), defined here.
Dynamic Convert Up Bonus
A dynamic Stalk bonus per PDV Converted upon a Convert up (LP → Pinto). Read more here.
Dynamic Convert Bonus and Penalty System
A mechanism that instantly credits a Stalk bonus or burns a portion of Stalk accumulated from Seeds on a Deposit upon Convert, as part of the target maintenance mechanism. It comprises four levers:
Dynamic Convert Down Penalty (Stalk Penalty)
Dynamic Convert Up Bonus (Stalk Bonus)
Convert Up Penalty (Stalk Penalty)
Convert Down Bonus (Stalk Bonus).
Read more here.
Earned Pinto
Pinto that have been paid to a Stalkholder since the last Season they Planted their Plantable Seeds (Claimed). Upon Plant, Earned Pinto are Deposited.
Earned Stalk
Stalk earned from Earned Pinto. Earned Stalk automatically contribute to Stalk ownership and do not require any action to claim them.
Farm
The Pinto ecosystem. The Farm has four primary components: the Sun, Silo, Field and Toolshed. Read more here.
Farm Balance
Balances stored in the Pinto protocol (but not Deposited, in Pod Orders, etc.). Farm Balances can be used in transactions on the Farm and may be more gas efficient than Wallet Balances. Read more here.
Farmers
Users of Pinto.
Field
The Pinto credit facility. Read more here.
FIFO
First in, first out. Pods become Harvestable (redeemable for Pinto) on a FIFO basis. This means that Pods closer to the front of the Pod Line become Harvestable before Pods farther back in the Pod Line. Read more here.
Flood
If it is Raining and the Pod Rate is less than 3% (Excessively Low), at gm there is a Flood. At the beginning of a Season where it Floods, additional Pinto are minted and sold directly into pools on the Flood Whitelist. Read more here.
Flood Whitelist
The whitelist of liquidity pools that the protocol evaluates whether to sell Pinto into or not during a Flood. Read more here.
Gauge Points
Used by the Gauge System to determine Grown Stalk issuance across LP tokens on the Deposit Whitelist.
Germination
Germinating Deposits are Deposits that are less than 2 gm calls old. Germinating Deposits can be Withdrawn or transferred, but cannot be Converted. Germination exists to add flash loan and inter-block MEV manipulation resistance to the calculation of Deposited PDV. By preventing the accrual of Earned Pinto for 1 full Season, the protocol further disincentivizes inorganic demand.
gm
The protocol accepts one gm function call every Season. Upon the gm call, the protocol adjusts the Pinto supply and various incentives to facilitate low volatility. Read more here.
Grown Stalk
Stalk earned from Seeds. Grown Stalk does not contribute to Stalk ownership until it is Mown (Claimed). Mow can be called on its own, and it is also called at the beginning of any Silo interaction (Depositing, Withdrawing, Converting, etc.).
Harvest
Redeem Harvestable Pods for 1 Pinto each.
Harvestable Pods
Pods that are redeemable for 1 Pinto each. Harvestable Pods must be Harvested in order to use them.
Liquidity Rate (a.k.a. Liquidity to Supply Ratio or L2SR)
Represents the the Pinto liquidity level relative to the Pinto supply. The Liquidity Rate is a useful indicator of the protocol's health. Read more here.
Liquidity Weight
The portion of liquidity in a whitelisted liquidity pool that counts towards the Liquidity to Supply Ratio calculation.
Maximum Temperature
The maximum Temperature the protocol is willing to offer during a Season. Read more here.
Minting Whitelist
The whitelist of liquidity pools whose TWA∆P's are summated to calculate a total TWA∆P. Read more here.
Morning
The first 10 minutes of each Season where the Temperature approaches the Maximum Temperature.
Mow
Mowing (Claiming) Grown Stalk adds it to your Stalk balance. Called upon any interaction with the Silo.
Pinto Denominated Value (PDV)
The value of an asset denominated in Pinto. Used to calculate how many Stalk and Seeds are rewarded to Depositors of an asset in the Silo. Abbreviated as PDV.
Pinto
The low volatility money protocol that issues Pinto. Also used to refer to the ERC-20 token.
Pinto Contract Multisig (PCM)
The multisig that custodies ownership of the Pinto contract. Abbreviated as PCM. Read more here.
Pipeline
A sandbox contract that can execute an arbitrary number of actions within the EVM from an EOA in a single transaction. Forked from evmpipeline.org.
Plant
Planting (Claiming) adds Plantable Seeds to your total Seed balance.
Plantable Seeds
Seeds earned in conjunction with Earned Pinto. Plantable Seeds must be Planted in order to grow Stalk.
Plot
Pods that grow from Pinto that were Sown in the same transaction form a Plot.
Pod Line
The order in which Pods will become Harvestable based on the FIFO Harvest schedule.
Pod Listing
An offer to sell Pods on the Pod Market. Read more here.
Pod Market
The decentralized, trustless market that Pods can be bought and sold on. Read more here.
Pod Order
An order to buy Pods on the Pod Market. Read more here.
Pod Rate
The protocol debt level (Pod supply) relative to the Pinto supply. The Pod Rate is often used as a proxy for the protocol's health. Read more here.
Pods
The Pinto-native debt asset, redeemable for 1 Pinto each once they become Harvestable. Read more here.
Rain
At the beginning of a Season where TWA∆P > 0 and Pod Rate < 3% (Excessively Low), it is Raining.
Season
Seasons are Pinto-native time. Every Season is approximately 1 hour. Each Season begins when the gm function is successfully called on Base. Read more here.
Seed Gauge System
The component of the Silo responsible for dynamically adjusting the Seed rewards for different assets whitelisted in the Silo. Read more here.
Seeds
An illiquid token that yields 1/10000 Grown Stalk every Season.
Silo
The Pinto Deposit facility. Read more here.
Soil
The current number of Pinto that can be Sown in exchange for Pods. Read more here.
Sow
Lending to the protocol. Used in the context of Sowing Pinto, or lending Pinto to the protocol when there is Soil.
Stalk
An illiquid token that entitles the holder to a pro rata share of future Pinto mints. Read more here.
Stalkholders
Holders of the Stalk token. Stalkholders earn Pinto seigniorage.
Sun
The component of the Farm that keeps time in Seasons and incentivizes cost-efficient and timely calling of the gm function. Read more here.
Target Seasons to Catch Up
Determines the target number of Seasons for a new Deposit with an average number of Seeds to catch up to the average Grown Stalk per PDV of existing Deposits at the time of Deposit. Read more here.
Temperature
The interest rate for Sowing Pinto. Read more here.
Toolshed
The Toolshed offers a suite of tools for efficient use of Pinto and other Base-native protocols. Read more here.
Wallet Balance
Balances in Farmers' wallets. Can be used in the same transaction as Farm Balances.
Withdraw
Deposited assets can be Withdrawn from the Silo at any time. The number of Stalk, Seeds, and Stalk from Seeds rewarded for a Deposited asset must be forfeited upon its Withdrawal from the Silo. Read more here.
Last updated