Inuko Finance Documentation
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Glossary of Terms

Auctioneer: Smart contract that enables users to create and manage bond markets.
Bond market: Created by Issuer for a given Base & Quote Token pair
Bond Token: Representation of Base Token to be received by User once the bond vesting period ends. Redeemable for Base Token
Callback: Smart contract that enables Issuers to apply custom logic on receipt and payout of tokens (optional feature)
Sequential Dutch Auction: a pricing mechanism whereby the initial price starts high (as opposed to English auction whereby the price starts low) and falls until there is a buyer. Once a sale is executed, the price reverts to a level higher than the sale price and continues to fall until there is a buyer
DeFi: Decentralized Finance
Fixed-expiry: bonds that vest at a specific timestamp, tokenized as ERC20
Fixed-term: each bond vests at a set amount of time after purchase, tokenize as ERC1155
Issuer: One who creates a bond market by defining the Base Token to provide and Quote Token to receive
OIP: Olympus Improvement Proposal
OP: Olympus Pro
Payout Token: Token offered by Issuer in the bond market
Quote Token: Token provided by User and received by Issuer
TBV: Total Bond Value
Teller: Smart contract responsible for issuing Bond Tokens to Users after Quote Tokens have been deposited
User: One who provides Quote Token in exchange for future-dated Payout Token in the bond market