Reference
Glossary
Every term in these docs, in a sentence or two.
Every term in these docs, in a sentence or two.
A
- Autopay
- Collects each payment from your wallet on its due date, through a delegate approval you can revoke. More
C
- Cadence
- How often you pay. A 1-day term is one payment, due the next day; terms in weeks are paid weekly; terms in months are paid every 30 days.
D
- Delegate
- Permission you give a program to move up to a set amount of one token from your token account. Autopay makes Sprout’s program the delegate on your USDC account, capped at what your plan still owes. Also called a spending cap.
- Due date
- The day a payment is scheduled. The first is one period after you send: a day, a week or 30 days.
E
- Early payment
- Paying ahead of schedule. Allowed any time, with no penalty. More
F
- Flat fee
- Sprout’s only fee: 5% of the amount you send, fixed when you confirm. $5.00 on $100.00, whatever the term.
G
- Grace period
- The 3 days after a due date in which a missed payment can be made with no consequences.
I
- Installment
- One scheduled payment. $100.00 over 10 months is 10 installments of $10.50.
L
- Limit
- The most you can have sent and not yet paid back, across all your plans. New accounts start at $1,000.
- Liquidity
- The funds Sprout uses to pay your recipient in full at the moment you send.
N
- Network
- The blockchain a transfer happens on. Sprout runs on Solana.
- Network fee
- What a blockchain charges to process a transaction. On Solana it’s paid in SOL and goes to the network, not to Sprout.
O
- Open plan
- A plan that isn’t paid off yet. You can have up to 5.
- Overdue
- A payment still unpaid after the grace period. New sends pause until it’s paid.
P
- Plan
- What you owe Sprout for one send: the amount plus the fee, split into equal payments over the term you chose.
R
- Recipient
- Whoever you send to. They receive the full amount and need nothing from Sprout.
- Revoke
- Cancel a delegate approval. Turning autopay off revokes it; your schedule stays the same.
S
- Schedule
- Every payment on a plan, with its amount and due date. The last one absorbs any rounding cents.
- Seed phrase
- The words that control your wallet. Sprout will never ask for them. Nobody legitimate will.
- SOL
- Solana’s own token. Network fees are paid in it; keep a little in your wallet.
- Stablecoin
- A token that tracks the US dollar. Sprout uses USDC.
T
- Term
- How long you take to pay a plan back, from 1 day to 12 months.
- Token account
- Where your wallet keeps one token. Autopay’s approval covers your USDC token account and nothing else.
- Transfer
- Money moving onchain from one address to another. Final once confirmed.
W
- Wallet address
- Where funds are sent. On Solana it’s 32 to 44 base58 characters, and it never starts with
0x.