Glossary – Nolus Docs

Definitions of the terms used across the Nolus docs, from positions, LTV and margin interest to LPN, nLPN, the oracle, remote leases, Solray and Metis.

The terms below appear throughout the Nolus docs, in alphabetical order, and each definition links to the page that covers the term in depth.

Term	Meaning
Account	A user's account on Nolus, derived from the same key as the user's Solana wallet, so that the Solana wallet, Phantom or Solflare, also signs the user's Nolus transactions. Users have accounts, while contracts have addresses.
Admin contract	The platform registry of every protocol and its contracts, at `nolus1gurgpv8savnfw66lckwzn4zk7fp394lpe667dhu7aw48u40lj6jsqxf8nd`. Contract discovery starts here, as Discover contract addresses shows.
Alarms dispatcher	The off-chain service that triggers due price alarms and time alarms so that positions re-check themselves, as described on the Oracle page.
Down payment	The user's own contribution to a position, sent with `open_lease`, which together with the loan buys the position asset when the position opens.
Due period	How often interest falls due, one of the position parameters. Interest still unpaid after the due period is collected by selling part of the position.
EMA	Exponential moving average, which the oracle applies to smooth feeder prices before any consumer reads them.
Feeder	An off-chain price feeder registered with an oracle, which takes prices from Metis quotes on Solana and sends them in `feed_prices` transactions. A price needs a quorum of feeders, as the Oracle page explains.
Full liquidation	Selling the whole position when a partial liquidation cannot restore it or would leave it below the minimum size. The position then ends in the `liquidated` state, as Liquidations and risk describes.
`ibc/` denom	The form a receipt takes on Nolus for a Solana token locked in Solray's escrow on Solana, which is `ibc/` followed by a hash of the token's IBC transfer path. Token denoms on Nolus shows how to resolve one.
Lease	The contract behind one position, a state machine that tracks the loan, interest and status and controls the position's account on Solana. The word also refers to the position itself.
Leaser	The per-protocol contract that quotes and opens positions, holds the position parameters and lists each user's positions.
Lender	Someone who deposits the pool currency into a lending pool and receives nLPN, a share of the pool, in return.
Liability	What a position owes, which is its principal plus the interest due. The Leaser's LTV thresholds are configured under `liability`.
LPN	Liquidity pool native, the currency a lending pool lends and in which its protocol's oracle quotes prices. A protocol is named after its LPN, as USDC is in `SOLANA-METIS-USDC`.
LPP	Liquidity Providers' Pool, the lending pool contract of a protocol, which positions borrow from and lenders deposit into.
LTV	Loan-to-value, which is a position's liability divided by the value of its position asset in the LPN at the oracle price. The opening, warning and liquidation thresholds are all LTV levels, as Liquidations and risk explains.
Margin interest	Interest that a position pays on top of the loan rate, at the annual rate set in the position parameters. Margin interest funds NLS buybacks and the Nolus referral program.
Metis	Jupiter's routing engine on Solana, which Nolus positions swap through and price feeders quote. Protocol names carry it as the swap venue.
NLS	The native token of the Nolus chain, used for staking, chain governance and fees.
nLPN	A lender's pool share, which a deposit in a lending pool buys and which is held as a non-transferable balance inside the LPP contract rather than as a receipt. It is redeemed for the LPN at the pool's current price.
Oracle	The per-protocol contract that aggregates feeder prices into one price per currency and fires price alarms, as described on the Oracle page.
Partial liquidation	Selling enough of a position to bring its LTV back to the healthy level, after which the position stays open, as Liquidations and risk describes.
Position	A user's leveraged holding, which is the down payment plus a loan, swapped into the position asset. Each position is its own Lease contract.
Position asset	The asset a position holds, which on a long is the asset the user wants exposure to and on a short is USDC, bought by selling the borrowed token, as Markets and protocols explains.
Price alarm	A price range that a position registers with the oracle, so that when the price leaves the range, the position re-checks its LTV.
Profit	The per-protocol contract that collects margin interest.
Protocol	One market's full set of contracts, that is, the Leaser, LPP, oracle, profit, reserve and remote lease controller, named `<NETWORK>-<DEX>-<LPN>` as in `SOLANA-METIS-USDC`. The admin contract's `{"protocols":{}}` query lists them, and Markets and protocols describes how markets map to protocols.
Receipt	What Nolus holds for a Solana token locked in Solray's escrow on Solana, shown as an `ibc/` denom. Lending, repayments and settlement on Nolus use receipts, and redeeming one releases the token on Solana, as Solray describes.
Remote lease	The Solana half of a position, a per-position account in Solray's Remote Lease app that holds the position asset and runs its swaps. The Lease contract on Nolus controls it over IBC.
Remote lease controller	The per-protocol contract on Nolus that sends the Lease's open, swap, transfer and close instructions to Solray's Remote Lease app over IBC, as How Nolus drives a position on Solana describes.
Reserve	The per-protocol contract that covers shortfalls when a position closes or is liquidated for less than it owes.
Slippage protection	The guard on liquidation swaps, also known as the Market Anomaly Guard, which holds back a liquidation that would fill below the oracle price minus the liquidation slippage limit. The waiting liquidation stays in status `slippage_protection_activated` until it is re-assessed.
Solray	The Nolus program on Solana, which activates the Nolus money market there using IBC channels and architecture and connects the Nolus chain and Solana only, rather than acting as a bridge between networks. It holds the token transfer app, with its escrow and receipts, and the Remote Lease app.
Take profit and stop loss	Optional LTV levels set on an open position, and reaching either one closes the whole position.
Time alarms	The platform contract that schedules time-based callbacks, such as a position's periodic re-check, as listed under Platform contracts.
Treasury	The platform contract that distributes NLS rewards to lending pools for lenders and receives transaction fees paid in NLS.