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Glossary

The terms used across the Hipo docs, app and FAQ, each linking the page that explains it in full.

  • APY — the annualised reward rate on staked GRAM; it varies over time — see the live figure on the Stats page and Rewards & APY.
  • Bill (SBT) — a non-transferable NFT the protocol issues when an operation cannot complete instantly, for example an unstake while funds are in a validation round; see Contracts & Audits.
  • Borrower — a validator that borrows staked GRAM from Hipo for a validation round, posting collateral and paying the reward rate it bid; see Validators & the Marketplace.
  • Collateral — the GRAM a borrowing validator locks, covering the maximum slashing penalty for the round plus the reward it promised; see Validators & the Marketplace.
  • DAO — the Hipo DAO: HPO holders voting on protocol decisions at ton.vote.
  • Exchange rate — how much GRAM one hGRAM redeems for; it rises as staking rewards settle — see hGRAM.
  • Full / Instant unstake — Full settles after the current validation round at the better rate and always goes through; Instant pays out immediately at a slightly lower rate when the protocol holds enough free GRAM — see How Unstaking Works.
  • Governance fee — a governance fee on validation rewards, set by the Hipo DAO, currently 0% — see Fees & Gas.
  • GRAM — TON’s native token, formerly Toncoin / TON.
  • hGRAM — Hipo Staked Gram, the liquid staking token you receive for staking GRAM, formerly hTON — see hGRAM.
  • Hipo Club — the tiered programme whose level sets the HPO reward coefficient on the hGRAM you hold — see Hipo Club.
  • HPO — Hipo’s governance and profit-sharing token — see HPO.
  • Jetton — TON’s fungible-token standard (TEP-74); hGRAM and HPO are both jettons.
  • Liquid staking — staking that issues a transferable token representing the staked position, so it stays usable while it earns — see Liquid Staking.
  • Slashing penalty — the penalty a validator can incur for failing its round; it is taken from the validator’s collateral, not from staked GRAM — see Validators & the Marketplace.
  • TGE / ILO — HPO’s token generation event, held on 25 November 2024 as an Initial Liquidity Offering: a launch directly on a DEX, with no private round.
  • Treasury — Hipo’s main smart contract: it holds deposited GRAM and lends it to borrowers — see Contracts & Audits.
  • TVL — total value locked: the GRAM staked through Hipo — see the live figure on the Stats page.
  • Validation round — TON’s roughly 18-hour cycle in which validators secure the network and earn rewards; stakes stay frozen for about 9 hours after a round ends — see How Hipo Works.
  • XP — the activity score in Hipo Club, earned by staking and by the bot’s tasks; it drives the seasonal level-up — see Hipo Club.