> For the complete documentation index, see [llms.txt](https://city-protocol.gitbook.io/docs/llms.txt). Markdown versions of documentation pages are available by appending `.md` to page URLs; this page is available as [Markdown](https://city-protocol.gitbook.io/docs/platform/introduction/glossary.md). # Glossary Definitions of the terms used across the City Protocol documentation, from the products and their contracts to tokenization, verification and Polis Points.

Term	Definition
$CIT	The native utility and governance token of City Protocol, with its canonical contract on Ethereum mainnet and bridged OFT deployments on Base, BNB Chain and Arbitrum. It gives access to governance, service payments, ecosystem incentives and, once Venzo introduces an interface fee, a holder discount on that fee.
Active vault multiplier	The Polis Points multiplier that each season's rules set for each eligible product.
API and SDK	The developer interfaces through which partners integrate City Protocol modules into their own applications: vaults, wallets, funding, swaps, lending and AML screening.
Attestation	A verifiable statement about a product or vault, such as proof of reserves, a collateralization ratio, a NAV report hash, a service-provider confirmation or a settlement record.
Attestation engine	The TaaS module that links each product claim to a verifiable record across reserves, collateral, NAV reports, deployment, service providers and settlement.
Automation signer	A server-side key that City Protocol's execution service uses to carry out a participant's OTP trades, only within the Approval and Trade permissions that the participant's wallet grants.
Basket Execution Router	A next-phase OTP module that will settle the legs of each list change as one price-checked atomic batch.
Chain abstraction	Infrastructure that lets a participant or an application act across supported networks without managing bridges, gas tokens or network-specific routing.
Circuit breaker	An automated control that pauses affected functions on NAV deviation, low collateralization, stale oracle data, quota breaches or other abnormal conditions.
City Protocol	Structured-product infrastructure for a universal marketplace of structured products across DeFi and RWA. It issues and operates Curated Vaults and OTPs on existing blockchains, and users reach them through Venzo.
Collateralization ratio	The ratio of collateral or verified reserves to outstanding obligations. A lending or RWA-backed mandate sets a target and a minimum, and the proof-of-solvency dashboard shows reserves divided by supply.
Constituent	An asset that an OTP holds, such as a tokenized equity.
Crypto-only Curated Vault	A Curated Vault that holds, lends against and earns from crypto-assets only, with no exposure to real-world loans, receivables, securities or tokenized securities. Only crypto-only vaults are available to residents of the Republic of Korea.
Curated Vault	A pooled vault in which a named curator runs one strategy inside a contract-enforced mandate, and participants hold Receipt Tokens priced at NAV per share.
Curator	The named, independent party that sets a Curated Vault's mandate, including its accepted assets, risk limits, fees, redemption terms and approved venues, and runs its strategy inside that mandate.
Curator-bound execution	The design principle under which the curator or issuer defines the mandate and strategy managers act only within the bounds the contracts enforce.
DeFi yield vault	A vault type that allocates capital to approved lending markets, liquidity venues, restaking strategies or structured DeFi positions.
Deviation check	An oracle control that rejects or pauses an update when the reported value moves beyond a set threshold.
Emergency pause	A security control that halts deposits, redemptions, share transfers, allocation or strategy execution during extreme market or security events, with separate roles to pause and to resume.
Epoch	A settlement window in which every request settles at one valuation point on the same terms.
Epoch-based redemption	A redemption process in which requests collect during an epoch, the price locks at epoch close, the vault calculates and funds the liquidity required, and participants claim once their claims are funded.
Execution fee	The OTP fee on each Buy and Sell, a disclosed share of the amount traded, paid in the settlement token to a fixed fee recipient.
Funded claim	A redemption claim that becomes payable only once the vault holds the settlement assets for the whole epoch.
Genesis multiplier	The Polis Points multiplier for deposit lots that enter early in a season, confirmed once a lot has been held for the period that the season's rules set.
Guru OTP	An OTP type that tracks the disclosed positions of a well-known investor or manager from third-party public sources, such as periodic transaction reports and quarterly Form 13F filings. Live since September 2026, starting with the Pelosi Portfolio+. Guru OTPs replicate positions disclosed in public filings and are not affiliated with or endorsed by the individuals or firms they track.
Index OTP	An OTP type that holds a defined index basket, bought at the weights its methodology sets, and changes its list only when the index rule adds or drops a name.
Indexing layer	The offchain service that indexes vault events, including deposits, withdrawals, fees, NAV reports, strategy debt, settlement records and permission changes, for dashboards and reporting.
Investor management	The TaaS module that applies eligibility per product: KYC/AML, jurisdictional rules, accreditation checks, allowlists, denylists, subscription limits and transfer restrictions.
Issuance & Operation Layer	The product layer that launches and runs Curated Vaults and OTPs through a shared seven-stage lifecycle, and composes approved components into rules-based structured products.
KYC/AML	Know Your Customer and Anti-Money Laundering controls that verify users, screen risk and meet product or jurisdictional requirements.
LP	A liquidity provider: a participant who deposits assets into a vault and receives Receipt Tokens or claims under the product's terms.
Managed account	A strategy structure in which capital is managed in a dedicated account outside a pooled, tokenized share product.
Mandate	The curator's rule set for a vault: allowed assets, venues and strategies, allocation limits, drawdown threshold, leverage limit, liquidity requirement, minimum collateralization and redemption period.
Market-neutral strategy	A strategy that limits exposure to broad market direction and earns from funding spreads, pricing inefficiencies, statistical signals or relative value.
Methodology	The published, versioned rule set of an OTP: its constituents, the weights at purchase and the source or rule that can change the list.
Methodology weight	The share of a Buy that an OTP's methodology assigns to each constituent. A Rebalance restores the methodology weights where the product enables it.
Multichain distribution	Making a tokenized product available across supported networks and applications while it keeps its metadata, access rules, oracle data, reporting and redemption logic.
NAV	Net asset value: a Curated Vault's verified assets minus its liabilities and accrued fees.
NAV monitoring oracle	The TaaS module that collects valuation inputs, validates them, checks deviations, requires signers where needed and publishes NAV or share-price data.
NAV per share	NAV divided by the Receipt Tokens outstanding, struck at each settlement.
Onchain Token Portfolio (OTP)	A published, rules-based model portfolio whose constituents are bought into the participant's own onchain account.
Oracle quorum	A requirement that several authorized signers or data sources approve a NAV or oracle update before it becomes authoritative.
Permission change log	A record of changes to roles, access rules, strategy approvals, signers and other sensitive vault parameters.
Permission validators	The Approval and Trade scopes installed in an OTP smart account, which limit the automation signer to reviewed calls within a daily operation budget and a fixed validity window.
Policy controller	The vault module that stores the configurable parameters, such as accepted assets, deposit caps, fee rates, redemption windows and risk thresholds.
Polis Points	Loyalty points that record eligible participation in City Protocol products through Venzo. They have no cash value, cannot be sold, transferred or exchanged for cash, and carry no entitlement or promise to receive $CIT or any other asset. The current policy is published on the City Protocol website.
Position multiplier	The Polis Points multiplier based on a wallet's eligible TVL, in tiers that each season's rules set.
Proof of deployment	Evidence that vault assets are allocated to approved strategies, accounts or venues according to the mandate.
Proof of reserves	Verification that the assets backing a product exist and correspond to its reported obligations.
Proof of solvency	An independent dashboard that totals the reserves and the supply across the Curated Vaults it covers and shows the collateral ratio, reserves divided by supply.
Real-world asset (RWA)	A traditional, offchain or tangible asset or claim that is represented or financed onchain, such as private credit, receivables, treasuries, commodities or secured lending exposure.
Rebalances tab	The section of an OTP's product page that records each published list change.
Rebalancing Executor	A next-phase OTP module that will apply each published list change inside every enrolled account as a session signer bound to a policy.
Receipt Tokens	The tokens a Curated Vault participant holds, representing a claim on the pooled vault, priced at NAV per share.
Redemption manager	The vault module that handles redemption requests, epoch closures, price locks, liquidity checks and claim execution.
Reference price	An independent market price for a constituent, which the OTP execution service compares with the venue's quote before it signs a trade.
Report oracle	The contract that accepts NAV reports only from authorized reporters under a configurable quorum, with freshness, timing and deviation checks.
Root validator	The validator through which the owner wallet holds full authority over an OTP smart account, including withdrawals, transfers and permission grants.
Security governance layer	The vault controls that reduce operational and key-person risk: multisig governance, execution timelocks, NAV signer quorum, strategy whitelisting, emergency pauses and role-based permissions.
Session signer	A limited signing key bound to a policy, which a participant will be able to add to or remove from their own account in the next phase.
Settlement finality	The property that no later report, fee change or strategy event alters an epoch that has settled.
Settlement record	A verifiable record that a redemption, withdrawal or other settlement has been processed.
Settlement token	The stablecoin that funds an OTP account on its chain, pays for each Buy and receives Sell proceeds, such as USDT or USDC.
Smart account	A Kernel account following ERC-4337, one for each OTP participant, portfolio and chain, owned by the participant's wallet, where every constituent sits.
Strategy debt	The capital that a vault has allocated to a strategy or venue and that remains owed back to the vault.
Strategy manager	The contract that allocates a vault's idle assets to allowlisted strategies within debt caps, executing only approved actions on approved targets.
Strategy whitelisting	Restricting capital deployment to approved strategies, venues, borrowers or accounts.
Structured product	A product wrapper with defined components, methodology, fees, eligibility rules and lifecycle terms, such as a multi-vault allocation, a thematic basket, a manager strategy or a model portfolio.
Thematic OTP	An OTP type that will hold the names meeting a published theme rule; arrives with the next phase.
Tokenization as a Service (TaaS)	The layer that turns a fund, strategy, credit book or managed account into an onchain product with a defined token representation, investor eligibility, NAV monitoring and attestations.
Tokenized yield product	An onchain product that represents exposure to a yield source, vault, strategy, fund, credit asset or other return-generating product.
UserOperation	An ERC-4337 operation that a smart account executes through the EntryPoint; every OTP trade settles as one.
Vault as a Service (VaaS)	The layer that provides the vault contracts that hold participant capital, enforce the mandate, track NAV and handle redemption.
Vault share	A participant's proportional interest in a Curated Vault, held as Receipt Tokens.
Venzo	City Protocol's flagship application, where users subscribe to Curated Vaults and OTPs.
Yield asset tokenization	Converting a yield source, strategy or asset exposure into an onchain representation with rules for access, valuation, reporting, subscription and redemption.
Yield provider	An asset originator, fund, lender, trading firm or other partner that supplies the yield source behind a tokenized product or vault.