Glossary

Short definitions for terms you will see in the app and this user guide.

Term	Meaning
Pasanaku	A fixed-membership rotating savings pool (also the product name).
Circle / pool	One pasanaku instance identified by a pool ID.
Participants	Exactly 6 or 12 members; chosen at create and locked at start.
Per-round amount	Fixed asset amount each obligor deposits in a round.
Pledge	Locked collateral to create/join: `per-round × N` plus 1% miss headroom.
Free collateral	Shares you can withdraw or pledge.
Locked collateral	Shares committed to a pool until end or leave (pending/stale).
Vault / ERC-4626	Yield-bearing vault that holds collateral; the contract owns the shares.
Pending / Open	Pool not started; still filling (or waiting).
Stale	Fill window expired; joins blocked; members may leave.
Active / Started	Rounds in progress.
Ended	Final settlement done.
Start	Roster full: shuffle, membership mint, yield accounting begins.
Payout order / position	Shuffled recipient sequence (`#1` … `#N`); set at start.
Round	One contribution window and one recipient turn.
Obligor	Member who must deposit this round (not the recipient).
Recipient	Member who claims that round’s pot after tick.
Deposit (round)	Pay the per-round amount into the pool for a participant.
Tick	Permissionless settle after ≥ 28 days; accrues pending payout / may end the pool.
Claim	Recipient pulls a pending round payout.
Pull payout	Funds wait until claim; later ticks do not require prior claims.
Pool reserve	Shares from miss penalties (and related cover), owned by the pool.
Miss	Obligor did not deposit before tick; collateral may cover + 1% penalty.
Yield / surplus	Vault appreciation after start, shared at end by position weights.
Yield fee	Optional cut of end surplus to the protocol owner (capped; snapshotted at create).
Creation fee	Optional native ETH fee to create a pool (capped).
Membership receipt	Soulbound ERC-1155 minted at start; not transferable.
Base	Target chain for production deployments.

Glossary ​

See also ​

Glossary

See also