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Sprinter Glossary

Bridges​

Protocols that facilitate asset and data transfer between different blockchain networks. Bridges can be trust-minimized (e.g., ZK-proofs, MPC) or centralized.

Collateral​

Assets deposited by a user to secure a credit line. Stash values collateral across all supported chains as a single unified portfolio.

Credit Account​

A guardrailed smart contract that holds issued credit funds and enforces usage constraints defined by the credit policy.

Credit Configuration​

The financial terms governing a credit line: supported collateral assets, LTV ratios, credit asset, interest rate, term length, and fees. A tighter credit policy can unlock a more favourable configuration.

Credit Hub​

The core component of Stash V2. Handles credit line creation, drawdowns, repayments, and liquidations across supported networks.

Credit Line​

A pre-approved borrowing facility issued by Stash, allowing users or agents to draw funds up to a defined limit based on their collateral and credit configuration.

Credit Operator​

An entity (user, app, or agent) granted access to a Stash credit line on behalf of its owner, subject to fine-grained policy constraints such as allowed actions, amount caps, and co-sign requirements.

Drawdown​

The act of drawing funds from an open credit line up to the available credit limit.

Fill​

A fill represents the full lifecycle: Detecting a user intent → Borrowing liquidity → Executing the transaction → Repaying liquidity → Realizing solver and protocol profits.

Health Factor​

A single number indicating how close a position is to liquidation, calculated as (Collateral Value × Maintenance LTV) / Outstanding Debt. A Health Factor above 1.0 is safe; below 1.0 the position is eligible for liquidation.

Intent Systems​

A model where users specify desired outcomes, and solvers or order flow networks execute transactions accordingly.

Interop​

The ability of multiple blockchain networks to communicate and share information in a seamless, trust-minimized, and permissionless way. This enables assets, smart contracts, and transactions to interact across chains without requiring users to manage complex bridging processes.

Liquidation​

When a position's Health Factor drops below 1.0, Stash liquidates as much collateral as needed to restore a healthy position. Partial liquidations are preferred. Liquidators receive a 5% bonus on the collateral they claim.

Liquidity Layer​

The Stash component that sources and manages the capital required for credit issuance. Liquidity Providers deposit into the Liquidity Hub to earn yield.

Liquidity Provider​

A participant who supplies capital to the Stash Liquidity Layer in exchange for yield.

Loan-to-Value (LTV)​

The ratio of a user's credit limit to the value of their collateral. Each supported collateral asset has its own LTV ratio reflecting its risk profile. Max Credit = Collateral Value × LTV

Maintenance LTV​

The maximum LTV a position may reach before becoming eligible for liquidation. Set above the initial LTV to provide a safety buffer. Current LTV = Outstanding Debt / Collateral Value

MEV (Maximal Extractable Value)​

The value miners, validators, or solvers can extract by reordering transactions, with growing importance in MEV-resistant routing across chains.

Overcollateralized Credit​

A credit line where the value of deposited collateral exceeds the credit issued, reducing lender risk.

Policy Engine​

The Stash component that makes credit configurable. Every credit line is governed by a policy defining who can use it, what they can do with it, and under what conditions. Tighter constraints enable more favourable credit terms.

Productive Collateral​

Collateral assets that continue to generate yield while locked in Stash, making credit cheaper by design. Stash integrates with DeFi strategies from Gauntlet and YO for this purpose.

Solvers​

Automated agents that find and execute the most efficient way to fulfill a user's intent, optimizing for cost, speed, and security.

Stash Borrow Quote​

A borrow quote is the preliminary estimated fee a solver would incur to borrow credit from Sprinter Stash. It is returned off-chain via the Stash API and helps solvers determine if pursuing a fill is profitable. Borrow quote includes expected gas, risk premiums, protocol fees, and capital access costs — but it is not a binding or reserved price.

Stash Borrow Cost​

A borrow cost is the final, authorized borrowing offer issued by Sprinter Stash when a solver decides to proceed with a fill. It reserves credit under specific conditions, allowing solvers to confidently execute the crosschain transaction.

Swaps​

Asset exchanges that can occur within a single chain or across multiple chains using interoperability protocols.

Undercollateralized Credit​

A credit line where the issued credit exceeds the value of deposited collateral (or requires no collateral at all). Enabled by tight usage constraints via the Policy Engine.