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Glossary

Automated Market Maker#

An automated market maker is a smart contract on Ethereum that holds liquidity reserves. Users can trade against these reserves at prices determined by a fixed formula. Anyone may contribute liquidity to these smart contracts, earning pro-rata trading fees in return.

ERC-20#

ERC-20 tokens are fungibile tokens on Ethereum. Uniswap supports all standard ERC-20 implementations. PandiFi homogenizers are ERC-20 tokens.

ERC-721#

ERC-721 tokens are non-fungibile tokens on Ethereum. Uniswap supports all standard ERC20 implementations. PandiFi's digitized loans are ERC-721 tokens.

Digitizer#

A PandiFi digitizer is an ERC-721 non-fungible token contract that represents loans that are held in the PandiFi Loan Trust.

Homogenizer#

A PandiFi homogenizer is an ERC-20 fungible token contract that represents a bundle of loans that can be considered relatively homogeneous after the application of a homogenization factor.