# Glossary

**Yield-bearing Token -** Any token that could generate yields. For example sSUI / sUSDC sUSDT on Scallop, vSUI on Volo. 

**Underlying Asset / Underlying Token** - A underlying asset /token is the token that the yield-bearing token represents. For example the underlying asset for sSUI is SUI deposited in Scallop; and the underlying asset for vSUI is the SUI staked in Volo. 

**Underlying Yield / Underlying APY -** The current yield / APY of the underlying token. The underlying APY of sSUI is 5% means that currently the APY for depositing SUI in Scallop is 5%.

**Maturity -** On Nemo, every PT / YT has a manually set date. So far, only the Nemo team are allowed to create a pool and set the date, which is called maturity. Setting a maturity is to determine a specific date, which helps PT / YT obtain a reasonable pricing from the market. 

**PT (Principal Token) -** PT represents the principal component of a yield bearing token. <mark style="color:blue;">1 PT gives the right to redeem 1 underlying asset UPON maturity.</mark>&#x20;

**YT (Yield Token) -** YT represents the yield component of a yield bearing token. <mark style="color:blue;">1 YT gives the right to continually receiving the yield of 1 underlying asset UNTIL maturity.</mark>&#x20;

**Fixed APY (PT APY)-** The APY that is guaranteed of buying and holding PT upon maturity.

**Leveraged APY (YT APY)-** APY for buying and holding YT until maturity, **assuming** the average future APY is same as the current underlying APY.


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