These are the terms you might encounter while using your Vault or in the Main Page. You can also follow the links to each key concept to have a deep understanding of how they work and how they might affect you.

Available to withdraw: the amount of collateral that can be withdrawn from your Vault at any given time. 

Available to generate: the amount of Dai available to generate based on your current collateralization ratio. 

Collateralization ratio: Current snapshot of your position's health calculated by the ratio of your locked collateral value versus outstanding Dai debt. 

Dai Available: it represents how much Dai is left before reaching the debt ceiling for that collateral type.If there is no more Dai available it means the Debt ceiling has been reached.

Debt Ceiling: The debt ceiling is the maximum amount of Dai that can be borrowed globally against each collateral type. it's a parameter set and updated by the Maker protocol on a regular basis. If the Debt ceiling is reached no more Dai can be borrowed against that collateral type until the debt ceiling is lifted.

Deposit: the action of depositing collateral, which will in turn reduce your risk and increase the amount of Dai available for you to generate. 

Dust limit: This is the minimum possible debt of a Vault. When opening a vault, a user has to generate at least this amount in Dai.

Generate Dai: the action of generating Dai from your Vault to your wallet, which in turn will increase your debt. 

Liquidation penalty: the percentage of your debt that will be charged by the Maker Protocol as a penalty in case of liquidation. This amount will be added to your debt and it will be paid from your deposited collateral in the case of liquidation. 

To understand liquidations better you can check the article about them.

Liquidation price: the market price at which your Vault will go into liquidation. 

Liquidation ratio: the minimum required ratio of collateral to debt under which your Vault will be liquidated. This is the same as the minimum collateralization ratio. 

LP Tokens: Tokens that represent your share of a liquidity pool.  

Min. Collateralization ratio/ Min Coll. Ratio: the minimum required ratio of collateral to debt needed to generate Dai for a Vault type. This minimum must be kept at all times to avoid liquidations.  

Multiple: an expression of the amount of exposure of your collateral in relation to not having an open position. A multiple of 2x means having 2x more exposure to increases and decreases of the price of the underlying asset.

Next Price: the next market price of your collateral in the queue.

Payback Dai: the action of using Dai in your wallet to reduce outstanding Dai debt and in turn reduce your debt. 

Stability Fee: the variable rate fee that is accrued as a percentage of the Dai that you have borrowed. 

Vault Dai debt: the current amount of outstanding Dai debt that is to be paid back, including accrued stability fees. 

Vault type: the type of Vault that is in your control defined by the collateral asset and the risk parameters. 

Withdraw: the action of withdrawing collateral from your Vault, which will in turn decrease your collateralization ratio.