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Canonical definitions for Supersmooth terms used throughout the platform and documentation.
A Safe smart contract account that Supersmooth deploys for you when you open a first position. Supersmooth uses one Safe per position type structure. As you use more Supersmooth products, you accumulate several Safes, all owned solely by your connected wallet. This isolation means a problem in one position type can never touch collateral in another position type. Supersmooth Safes are standard Safe accounts: if Supersmooth ceased to exist, you could operate those Safes directly or through any Safe interface.
The asset you deposit into a lending position.
The asset you borrow against collateral.
A collateral asset and debt asset pair on a specific protocol and a specific network.
The loan-to-value ratio that caps how much you can borrow when opening or increasing a position.
The loan-to-value threshold at which the lending venue seizes collateral. Different protocols name this differently: Aave and Spark call it the liquidation threshold, Morpho calls it LLTV, Euler calls it liquidation LTV, and Fluid calls it CF. Every risk display in the Supersmooth interface and every Supersmooth automation rule references Liquidation LTV, not borrow-limit LTV.
The true all-in cost of your debt, displayed on every Supersmooth Borrow position and Multiply position. Net Borrow Rate nets what the collateral earns against what the debt costs. The formula is:
The first term is the all-in borrow cost, and the Supersmooth Borrow Spread is already inside that term. The second term credits everything the collateral earns, which is the venue’s supply yield plus any native staking yield such as the wstETH staking rate, scaled by your collateral-to-debt ratio. A negative Net Borrow Rate means the collateral out-earns the debt, so the position pays you to hold it.
The collateral price at which a position reaches its Liquidation LTV. Supersmooth displays liquidation price before you sign and recalculates it continuously. Liquidation price drifts upward over time as borrow interest accrues, even when the collateral price does not move.
Total exposure divided by user equity. Maximum multiple is a function of the market’s maximum LTV, calculated as 1 ÷ (1 − maxLTV).
A figure shown on Supersmooth Yield Loop markets. Max APY is the net APY a market produces at its maximum multiple. Because maximum multiple equals 1 ÷ (1 − max LTV), a market allowing 90% LTV supports 10x, so a spread of roughly 1% between the staking yield and the borrow cost becomes roughly 10% on user equity at the ceiling. Max APY includes all costs, meaning the venue borrow rate and the Supersmooth Yield Loop Spread. Max APY is a ceiling for that market at current rates, not a promise. Your actual APY depends on the multiple chosen and moves as venue rates and staking yields move.
An uncollateralized loan borrowed and repaid within a single transaction, used to assemble multiplied positions atomically. Supersmooth routes to free flashloan sources first and falls back to paid providers, such as Aave at 9 bps, only when necessary. Any flashloan cost is included in the quoted transaction.
Collateral value minus debt value, which is user equity.
A Supersmooth Multiply position on correlated assets, such as wstETH against ETH, that levers the yield spread between a staking or yield asset and its base asset rather than taking directional price risk.
The price feed that a lending venue uses to value a position.