# Definitions

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The definitions section of this documentation is currently incomplete and a work in progress.
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**OIV:** On-chain investment vehicle

**Denomination Asset:** Token address used for asset used for deposits/withdrawals. The OIV will be denominated in this asset.

**Deposit Fee:** Fee on every deposit.

**Redemption Fee:** Fee on every redemption.

**Management Fee:** Flat fee, calculated as an annual percentage of the total assets under management. Occurs continuously and may be automatically deducted with every NAV update.

**Profit Management Fee:** Flat fee, calculated as an annual percentage of the total profits. Occurs continuously and may be automatically deducted with every NAV update. HWM is not included.\
\
**Settlement Period:** Frequency of settling deposit and redemption requests.

**Min. Liquid Asset Share**: Share of assets that can be liquidated at any time and used to meet redemption requests.

**Governance Token:** Token governing the OIV (Must be [ERC20Votes](https://docs.openzeppelin.com/contracts/4.x/api/token/erc20#ERC20Votes) compatible).

**Quorum:** Minimum number of cast voted required for a proposal to be successful.

**Voting Period:** Delay between the vote start and vote end.

**Voting Delay:** The [votingDelay](https://docs.openzeppelin.com/contracts/5.x/api/governance#Governor-votingDelay--) can delay the start of the vote. This must be considered when setting the voting duration compared to the voting delay.

**Proposal Threshold:** The number of votes required in order for a voter to become a proposer.

**Late Quorum:** The time required to pass from the time a proposal reaches quorum until its voting period ends.\ <br>


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