Glossary of Terms
This article defines common terms used across the Peoples Reserve platform. It is intended to help you understand product names, features, and concepts you may encounter while using your account or reading support articles.
Table of Contents
- Account and Platform Terms
- IDV
- Payments and Funding
- Swap and Asset Terms
- Mortgage
- Credit Products
- Real World Asset (RWA) Terms
- Security and Verification
Account and Platform Terms
PRN
PRN is the Peoples Reserve loyalty token. Your PRN holdings are used to determine your Loyalty Level and unlock benefits across the platform.
Loyalty Level
Your Loyalty Level reflects the percentage of PRN you hold relative to your overall portfolio and mortgage balances. Higher levels unlock lower fees and enhanced benefits.
Dashboard
The dashboard is the main area of your account where you view balances, access products, and manage platform features.
IDV
Identity Verification (IDV) serves as the overarching framework for ensuring trust in digital and physical transactions.
KYC (Know Your Customer)
The process businesses use to verify the identity of individual clients. It ensures that a customer is who they claim to be, helping to prevent identity theft and financial fraud.
- Collecting ID cards
- Proof of address
- Biometric verification (like a selfie)
KYB (Know Your Business)
Similar to KYC, but focused on corporate entities rather than individuals. It involves verifying a company’s legal status, its registration details, and identifying the "Ultimate Beneficial Owners" (UBOs) who actually control the business.
AML (Anti-Money Laundering)
An umbrella term for the laws, regulations, and procedures designed to stop criminals from disguising illegally obtained funds as legitimate income. KYC and KYB are actually specific "tools" used within a broader AML strategy.
- Monitoring transactions for suspicious patterns
- Reporting high-value cash movements to regulators
Payments and Funding
ACH (Automated Clearing House)
ACH is a U.S.-based bank transfer system used to move funds directly from your bank account. Peoples Reserve uses ACH for certain loan-related payments.
Real Estate Equity Fund
The Real Estate Equity Fund is the destination used for applicable ACH payments related to supported mortgage and credit products.
Swap and Asset Terms
Swap Engine
The Swap Engine is an internal tool that allows you to exchange supported assets within your PRN account without using an external exchange.
Supported Assets
Supported assets are the digital assets that can be held or swapped within the platform, such as BTC, ETH, prUSD, prBTC, PRN, USDC, and USDT.
Swap Fee
A swap fee is the percentage charged when exchanging assets using the Swap Engine. Fees are based on your Loyalty Level and shown before confirmation.
Mortgage and Credit Products
Bitcoin Powered Mortgage (BPM)
A Bitcoin Powered Mortgage is a mortgage product where platform mechanics and loyalty benefits influence interest rates and repayment behavior.
Self-Repaying Mortgage (SRM)
An SRM is a mortgage designed to reduce its balance over time using a combination of regular payments and eligible yield generated within the Peoples Reserve ecosystem.
Bitcoin Mortgage Reserve (BMR)
The Bitcoin Mortgage Reserve (BMR) is an interest-bearing escrow account where borrowers deposit Bitcoin as a down payment alternative to build equity and potentially pay off their mortgage early through shared asset appreciation.
Credit Products
Bitcoin Line of Credit (BLOC)
A Bitcoin Line of Credit allows eligible users to borrow against qualifying assets under defined terms and limits.
Bitcoin Backed Line of Credit (BBLOC)
A Bitcoin Backed Line of Credit (BBLOC) is a flexible financing tool that allows borrowers to access liquidity by using their Bitcoin as collateral without selling it, featuring interest rates that decrease as the borrower's PRN loyalty tier increases.
Real World Asset (RWA) Terms
RWA Property Claim
An RWA Property Claim allows eligible homeowners to claim a fully paid-off property within the Peoples Reserve ecosystem to generate yield without selling or refinancing.
Proof of Ownership(PoW)
Proof of Ownership is the verification process used to confirm that a user is the true and rightful owner of a claimed property before value can be recognized.
Funding Reserve
A funding reserve is the backing mechanism used to support eligible real-world asset participation within the platform.
Security and Verification
Verification
Verification is the process of confirming a user’s identity and eligibility for certain products and features.
Two-Factor Authentication (2FA)
2FA is an additional security step that requires a one-time code when signing in or performing sensitive actions.