Key Terms From This Episode
Active Collateral:
The amount of ETH collateral currently locked in your Vault. This is the ETH you've deposited that secures your USDL loan.
Active Debt:
The amount of USDL debt currently recorded in your Vault. This is the total USDL you've borrowed and still need to repay to close your Vault.
Active Vault:
A Vault that is currently open and operational, with non-zero collateral recorded. An active Vault has both collateral and debt associated with it.
Closed Vault:
A Vault that was once active but now has zero debt and zero collateral. Once you fully repay your USDL loan and withdraw all your ETH, your Vault becomes closed.
Mainnet:
The primary, production blockchain network where real transactions occur with real value, as opposed to a testnet. Liquid Loans is live on the Base mainnet.
The LL Librarian
Your Genius Liquid Loans Knowledge Assistant