Glossary

Time preference is an individual's disposition to weight present outcomes relative to future outcomes when comparing them; higher time preference means the future is discounted more steeply and present consumption is valued more strongly against future consumption of equivalent magnitude.

TIPS, or Treasury Inflation-Protected Securities, are U.S. government bonds whose principal value adjusts with changes in the Consumer Price Index, producing a stream of coupon payments and a final principal payment whose real purchasing power is preserved across the life of the bond.

A tokenized tontine is a tontine implemented through smart contracts on a distributed ledger, with membership represented as cryptographic tokens, mortality verification handled through identity and oracle systems, and payout execution performed automatically by on-chain code.

A tontine is a closed pooled-income arrangement in which a fixed group of members each contributes capital at the outset and receives a periodic income share for life, with the share of pool resources released by each member's death redistributed automatically among the surviving members.

Tontine payout mechanics are the structural rules that determine how a tontine pool's income is calculated, distributed, and adjusted over time — how pool assets and composition translate into per-survivor payments and how the share released as members die is redistributed.