> For the complete documentation index, see [llms.txt](https://venzofinance.gitbook.io/venzofinance-docs/llms.txt). Markdown versions of documentation pages are available by appending `.md` to page URLs; this page is available as [Markdown](https://venzofinance.gitbook.io/venzofinance-docs/access.-issue.-operate./glossary.md).

# Glossary

<table><thead><tr><th width="271.87109375">Term</th><th>Definition</th></tr></thead><tbody><tr><td>Structured Product</td><td>A pre-packaged investment strategy based on a single security, a basket of securities, options, indices, commodities, debt issuance, or foreign currencies, designed to provide customized risk-return objectives.</td></tr><tr><td>ETP (Exchange-Traded Product)</td><td>A type of security that tracks underlying securities, an index, or other financial instruments, which is traded on an exchange or platform.</td></tr><tr><td>NAV (Net Asset Value)</td><td>The total value of a product's assets minus its liabilities, divided by the number of outstanding shares or tokens.</td></tr><tr><td>Delta-Neutral</td><td>An investment strategy designed to maintain a net-zero exposure to directional market movements by balancing long and short positions.</td></tr><tr><td>City Protocol</td><td>The underlying open infrastructure for neofinance that powers Venzo's issuance, vault operations, and tokenization services.</td></tr><tr><td>Polis Point System</td><td>An onchain reputation and rewards tracking system developed by City Protocol, currently hosting its Season 1 campaign on Venzo.</td></tr><tr><td>VaaS (Vault-as-a-Service)</td><td>City Protocol's standardized operating layer for underlying yield strategies, managing capital flows and security controls.</td></tr><tr><td>Issuance &#x26; Operation Layer</td><td>The framework for product issuance, product-level accounting, methodology enforcement, rebalancing, and reporting.</td></tr></tbody></table>


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