Reference

Glossary

Every term used in the app, defined once.

APY — Annual percentage yield. The yearly rate on your debt, including the effect of interest compounding every second.

Available to borrow — Your borrow limit minus what you already owe.

Borrow limit — The most you could owe against your current collateral: each asset’s value times its max LTV, added up.

Collateral — The xStocks you deposit to back a loan.

Debt — What you owe: the USDC you borrowed plus interest so far.

Health — How far your loan is from liquidation. The dashboard expresses it as how far prices could fall before your loan becomes liquidatable.

Kamino Lend — The Solana lending protocol whose xStocks Market runs every Lendly loan.

Liquidation — The sale of part of your collateral to repay part of your loan, once its LTV reaches the liquidation LTV.

Liquidation bonus — The discount a liquidator receives on your collateral. It is your cost of being liquidated.

Liquidation LTV — The LTV at which a loan can be liquidated.

Liquidation price — The share price of a collateral asset at which your loan would become liquidatable, with everything else unchanged.

Loan account (obligation) — The on-chain account that records your collateral and debt. It is owned by your wallet.

Lendly fee — 1% of each borrow, taken from the USDC you receive in the same transaction. You owe the full amount.

LTV (loan-to-value) — Your debt divided by your collateral’s value.

Max LTV — The highest LTV a loan can reach by borrowing or withdrawing.

Net value — Collateral value minus debt.

Oracle — A service that brings prices on-chain so programs like Kamino can value collateral.

Scaled UI amount — The xStocks token feature that adjusts balances for dividends through a multiplier. See About xStocks.

USDC — A dollar stablecoin issued by Circle; the asset you borrow.

Utilization — The share of a pool’s USDC that is currently lent out. It drives the borrow rate.

xStock — A token on Solana that tracks a US share or ETF. Not a share.