Glossary
Key terms used throughout the Catpound Finance documentation.
Anti-Gaming Protection -- A mechanism that prevents users from staking NFTs right before a compound cycle to reduce their exit fee. The vault checks whether the NFT was staked in the current cycle (using stakeBlock vs lastReinvestBlock) and suppresses the NFT tier benefit until the next compound completes.
autoOpen -- A permissionless function that anyone can call to open the compound window once the auto-open threshold is reached (default: 4,000 blocks). Ensures the vault eventually compounds even if compounder bots are offline.
BPS (Basis Points) -- A unit of measurement for percentages. 1 BPS = 0.01%. 100 BPS = 1%. 10,000 BPS = 100%. Used throughout the vault contract to express fee rates.
Compound Cycle -- The full loop of vault operations: close window (start silent phase) then open window (unstake, harvest, swap) then close window (take fee, re-stake, update share price).
Compounder -- A whitelisted address authorized to trigger compound window operations (open, swap, close). Typically an automated bot, but can also be the vault owner.
cpMOTO -- "Catpound MOTO." The OP20 share token you receive when you deposit MOTO into the vault. Represents your proportional claim on the vault's total MOTO holdings. Fully transferable.
Dead Shares -- 1,000 cpMOTO shares permanently burned on the vault's first deposit. Prevents a share price manipulation attack where an attacker could inflate the price to make subsequent deposits receive zero shares.
Exit Fee (Slash) -- A fee charged on withdrawals during the silent phase. Decays linearly from the maximum rate (set by your tier) to 0% over 2,001 blocks. The fee remains in the vault and benefits remaining holders.
Floor Protocol Fee -- The minimum protocol fee (default: 2%) applied to compounded rewards regardless of the user's tier. Higher tiers may have additional surcharges on top of this floor.
Free Exit Window -- The period when the compound window is open and withdrawals have 0% exit fee. Also refers to the period after 2,001 blocks when the exit fee has fully decayed.
Liquid Buffer -- The portion of MOTO held directly in the vault contract (not staked in MotoChef). Used to serve withdrawal requests without needing to unstake. The reserve ratio determines its target size.
ML-DSA -- Module-Lattice-based Digital Signature Algorithm (FIPS 204). A quantum-resistant digital signature scheme supported by OPNet alongside ECDSA and Schnorr signatures.
MOTO -- The native token of the MotoSwap ecosystem. The yield-bearing token deposited into the Catpound vault and staked in MotoChef.
MotoChef -- The staking/farming protocol on OPNet where MOTO earns yield. The Catpound vault stakes MOTO here on behalf of all depositors.
MotoSwap -- The decentralized exchange (DEX) on OPNet. Used by the vault to swap harvested reward tokens back to MOTO during compound cycles.
OP20 -- The OPNet token standard, analogous to ERC-20 on Ethereum. cpMOTO is an OP20 token, which means it supports transfer, approve, and balance queries.
OP721 -- The OPNet NFT standard, analogous to ERC-721 on Ethereum. NFTs staked in the Catpound vault follow this standard.
OPNet -- A Bitcoin L1 smart contract platform that uses Tapscript-encoded calldata. Contracts are written in AssemblyScript and compiled to WASM. Catpound runs entirely on OPNet.
OPWallet -- The browser extension wallet for OPNet. Manages your Bitcoin keys, OPNet interactions, and ML-DSA quantum-resistant keys. Required to use Catpound Finance.
Protocol Fee -- A fee taken from harvested rewards during the compound cycle. Sent to the treasury address. Consists of a floor fee (applies to all users) plus a per-user surcharge (varies by tier).
Reserve Ratio -- The percentage of total vault assets kept in the liquid buffer (default: 15%). The rest is staked in MotoChef for yield.
Share Price (Exchange Rate) -- How much MOTO one cpMOTO is worth. Calculated as total assets divided by total cpMOTO supply. Increases with each compound cycle.
Silent Phase -- The period after a compound window closes. Exit fees apply during this phase, decaying to 0% over 2,001 blocks. MOTO is staked and earning rewards during this time.
stakeBlock -- The block number recorded when a user stakes an NFT. Used by the anti-gaming mechanism: if stakeBlock > lastReinvestBlock, the NFT tier contribution is suppressed until the next compound cycle completes.
Surcharge -- A per-user protocol fee that varies by tier, applied on top of the floor protocol fee. Tracked via an accumulator pattern and settled when users interact with the vault.
Surcharge Accumulator -- A global counter (surchargePerShareAccumulator) that increases with each compound cycle. Used to efficiently track how much surcharge each user owes without looping over all users at compound time.
Tier -- A fee level assigned to each user (0 through 7). Lower-numbered tiers have higher fees. Users can upgrade through NFT staking, whale detection, or admin assignment. The effective tier is the best from all sources.
Total Assets -- The vault's tracked total MOTO holdings, maintained as a separate counter (not derived from on-chain balance). Only changes through deposits, withdrawals, and compound operations. This donation-proof approach prevents share price manipulation.
Two-Bucket Model -- The vault's asset management approach: MOTO is split between a liquid buffer (for immediate exits) and staked MOTO in MotoChef (for yield). See How It Works.
Whale Detection -- An automatic tier upgrade system for large depositors. If the USD value of your vault position exceeds a configured threshold, the vault assigns you to a whale tier with lower fees.