App definitions

Price Rate

The rate of change in collateral requirements, expressed as an annual percentage rate. Positive means the collateral requirements are increasing, negative means they’re decreasing.

Low price rates make it more profitable to borrow.

Par

Multiplier for collateral requirements. When price rate is > 0 it increases, and when price rate is < 0 it decreases.

Market

Price of Rico, denominated in the reference asset. The price rate increases when par > mar and decreases when par < mar.

Quantity rate

The interest rate on a CDP, expressed as an annual percentage rate. If the quantity rate is 0.5%, you will owe 0.5% interest per year on your CDP to maintain adequate collateralization.

Min debt

Minimum amount of debt allowed in a CDP. This is so that people don’t spam tiny CDPs that no one cares to liquidate.

Rico debt

The amount of Rico you owe to pay down your CDP.

Ref

The external reference asset. In Rico’s case, 1oz gold (XAU).