# Glossary

1. Liquidity provider: A user who adds liquidity to the Open protocol through the process of asset deposits.
2. Borrower: A user who borrows from the protocol.
3. Collateral: A token(s) deposited by a borrower as a security deposit to secure a loan.
4. Supply apr: Annualised interest rates earned by liquidity providers.
5. Borrow apr: Annnualised interest rates charged to the borrowers.
6. Permissible CDR: Determines the permitted loan amount a borrower can acquire against their collateral.
7. MCP: Minimum commitment period is the minimum time duration for which a user(liquidity provider or borrower) locks their deposits or loans within the protocol. MCP improves the protocol's ability to predict the liquidity inflow & outflow.
8. Primary markets: Supported markets where the system participants can deposit, borrow, or provide collateral.
9. Secondary markets: Supported markets on integrated dapps, where the borrowers can convert their loans (primary markets) into, through the process of swaps, trading, etc.
10. Collateral-check: An off-chain verification is performed to determine if the borrower has adequate collateral to maintain loan security.


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