Measure of a bond's price sensitivity to interest rate changes, in years. A 5-year duration bond falls ~5% per 1% rate rise. Short-duration instruments (T-bills, MMFs) have minimal duration risk, explaining their dominance in on-chain RWA adoption.
Empieza por la explicación más corta y útil antes de profundizar.
Measure of a bond's price sensitivity to interest rate changes, in years. A 5-year duration bond falls ~5% per 1% rate rise. Short-duration instruments (T-bills, MMFs) have minimal duration risk, explaining their dominance in on-chain RWA adoption.
Usa primero la analogía corta para razonar mejor sobre el término cuando aparezca en código, docs o prompts.
Piensa en esto como una mecánica de mercado usada para poner precio, rutear o mover capital en apps de liquidez.
Ubica el término dentro de la capa de Solana en la que vive para razonar mejor sobre él.
AMMs, routing, liquidez, préstamos e infraestructura de trading.
Convierte el término de vocabulario en algo operacional para producto e ingeniería.
Este término desbloquea conceptos adyacentes rápido, así que funciona mejor cuando lo tratas como un punto de conexión y no como una definición aislada.
Usa este bloque compacto cuando quieras dar contexto sólido a un agente o asistente sin volcar toda la página.
Bond Duration (bond-duration) Categoría: DeFi Definición: Measure of a bond's price sensitivity to interest rate changes, in years. A 5-year duration bond falls ~5% per 1% rate rise. Short-duration instruments (T-bills, MMFs) have minimal duration risk, explaining their dominance in on-chain RWA adoption. Relacionados: Fixed Income, Maturity Date, Yield Curve
Usa contexto del glosario, relaciones entre términos, modelos mentales y builder paths para recibir respuestas estructuradas en vez de output genérico.
Opcional: pega código Anchor, Solana o Rust para que el Copilot mapee primitivas de vuelta al glosario.
El Copilot responderá usando el término actual, conceptos relacionados, modelos mentales y el grafo alrededor del glosario.
Estas ramas muestran qué conceptos toca este término directamente y qué existe una capa más allá de ellos.
Asset class comprising debt instruments paying regular, predetermined interest and returning principal at maturity. Includes government bonds, corporate bonds, T-bills, and money market instruments. Solana's RWA ecosystem is primarily fixed-income-focused.
Date when a debt instrument expires and principal must be repaid. Ranges from overnight (repos) to 30 years (T-bonds). Short-maturity instruments dominate Solana RWA due to lower duration risk. On-chain protocols encode maturity in smart contract logic.
Graph showing interest rates across different maturities for comparable debt. Normal curve slopes upward (longer = higher yield). When inverted (short > long), short-duration tokenized T-bills offer higher yields, explaining their dominance in Solana RWA.
Estos son los siguientes conceptos que vale la pena abrir si quieres que este término tenga más sentido dentro de un workflow real de Solana.
Estas entradas son fáciles de mezclar cuando lees rápido, haces prompting a un LLM o estás entrando en una nueva capa de Solana.
Debt in a lending protocol where the collateral value has fallen below the outstanding borrow value, making the position impossible to liquidate profitably. Bad debt occurs during extreme market crashes when liquidators cannot act fast enough or when oracle prices become stale. The protocol or its insurance fund must absorb bad debt losses. Kamino's Scam Wick Protection aims to reduce bad debt from price manipulation.
Las entradas del glosario se vuelven útiles cuando están conectadas. Estos enlaces son el camino más corto hacia ideas adyacentes.
Asset class comprising debt instruments paying regular, predetermined interest and returning principal at maturity. Includes government bonds, corporate bonds, T-bills, and money market instruments. Solana's RWA ecosystem is primarily fixed-income-focused.
Date when a debt instrument expires and principal must be repaid. Ranges from overnight (repos) to 30 years (T-bonds). Short-maturity instruments dominate Solana RWA due to lower duration risk. On-chain protocols encode maturity in smart contract logic.
Graph showing interest rates across different maturities for comparable debt. Normal curve slopes upward (longer = higher yield). When inverted (short > long), short-duration tokenized T-bills offer higher yields, explaining their dominance in Solana RWA.
Estas entradas viven junto al término actual y ayudan a que la página se sienta parte de un grafo de conocimiento más amplio en lugar de un callejón sin salida.
A protocol that enables token swaps using algorithmic pricing against pooled liquidity instead of matching individual buyers and sellers. AMMs use mathematical formulas (typically constant product x*y=k) to determine prices based on the ratio of tokens in a liquidity pool. On Solana, major AMMs include Raydium, Orca, and Meteora.
An AMM design where liquidity providers concentrate their capital within specific price ranges instead of across the full 0-to-infinity range. CLMMs dramatically improve capital efficiency—LPs earn more fees per dollar deposited within their active range. If the price moves outside the range, the position becomes inactive. Orca Whirlpools and Raydium CLMM are leading implementations on Solana.
A smart-contract-held reserve of two or more tokens that enables trading via an AMM. Users deposit token pairs in specified ratios to become liquidity providers and earn trading fees. Pools are identified by their token pair and fee tier. Pool depth (total value locked) determines price impact for trades.
A token issued to liquidity providers representing their proportional share of a pool's reserves and accrued fees. LP tokens can be burned to withdraw the underlying assets. The value of LP tokens changes as the pool's token ratios shift and fees accumulate. LP tokens are often stakeable in yield farming programs for additional rewards.