Glossary

Anchored asset. A token whose issuer says, in stellar.toml, that it is backed by something off the blockchain (is_asset_anchored = true).

Attestation of reserve. The optional SEP-1 field where an issuer links to proof of its reserves.

Attestor. A party, such as an auditor or custodian, that signs a statement about an asset’s reserves. In the registry, an asset’s administrator approves attestors.

Basis points (bps). Hundredths of a percent. 10,000 bps = 100%; 50 bps = 0.5%.

Board. Assay’s public website at assay.wtf, showing what every backed asset publishes about its reserves.

Circuit breaker. An automatic stop when a safety condition fails. In Assay, a lending protocol asking the guard before accepting more of an asset.

Coverage. Reserves divided by what is owed. 100% (10,000 bps) means the reserves equal the tokens owed.

Disagreement. The gap between the highest and the lowest coverage that fresh attestors report for the same asset.

Guard. Assay’s contract that answers “is this asset healthy under my policy?” with yes or no and a reason. It never moves funds.

Liabilities. What the issuer owes token holders, usually the token supply.

Policy. A protocol’s own thresholds for the guard: minimum coverage, maximum report age, minimum attestors, allowed disagreement and supply tolerance.

Registry. Assay’s contract where attestors post reserve reports and a witness posts supply. Anyone can read an asset’s status from it.

Report age. Time since the date a report’s figures are true for (its as_of date), not since it was posted.

Reserves. The real assets (cash, bonds, loans) that back a token.

RWA. Real-world asset: a token that stands for something off-chain.

SEP. Stellar Ecosystem Proposal: a shared standard for apps on Stellar. SEP-1 defines stellar.toml; SEP-53 defines signed messages.

stellar.toml. A file an issuer publishes on its website describing its organisation and tokens.

Supply witness. A party that records the on-chain token supply in the registry, so reports can’t understate what is owed.

Testnet. Stellar’s practice network. Tokens there have no value.