# Glossary

## **aKEEPER**

aKEEPERs are precursor tokens given to the community and public for early participation before the mainnet launch on ethereum (tentatively scheduled for Jan 20, 2022). The aKEEPER tokens are exchangeable 1:1 against the KEEPER tokens once the launch takes place.

## **APY**

Annual Percentage Yield, is the normalised representation of an interest rate, based on a compounding period over one year.

                                                           $$(1+R\_{d})^{365} = (1 + APY)$$

## **DAO**

Decentralised Autonomous Organisation, is a governance mechanism for making decisions in a more trustless and collaborative way. Voting rights are often bound to a governance token. In Kepler DAO the governance token is KEEPER.<br>

## **LCV**

Liquidity Control Variable, this is controlled by the Policy Team and helps set the [premium on selling. ](https://kepler-v2.gitbook.io/keplerdao/basics/selling)

## **KEEPER**

KEEPER is the native token of the KeplerDAO ecosystem. It is both a utility as well as a governance token. The KEEPER tokens are not fixed in supply. They are minted on [Buy ](https://kepler-v2.gitbook.io/keplerdao/basics/buying)and burnt on [Sell](https://kepler-v2.gitbook.io/keplerdao/basics/selling), in a way such that the price of the token remains the same on these actions.

## $$MV\_{SPV}$$

This is the market value of all the assets that are held by the SPV which are primarily tokens/SAFTs from protocols that the SPV has invested in.&#x20;

## $$MV\_{reserve}$$

This is the market value of all the assets that are held by treasury reserves (stable coins + crypto native assets)

## **SPV**

The SPV is a Special Purpose Vehicle which is entrusted with the responsibility of raising money from the Kepler treasury (which is owned by the community who are its "limited partners") for active investments. The money raised from the treasury is invested by the SPV into various protocols across sectors, stages and networks.<br>

## **TDR**

Token Debt Ratio is the ratio of Number of additional tokens sold to total coins in circulation. This is used to calculate the selling premium.

## **VC**

Venture Capital or VC is a type of financing that investors give to startups or small businesses that have a long term growth potential. You can read more about VC on this [link](https://www.investopedia.com/terms/v/venturecapital.asp).


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