> For the complete documentation index, see [llms.txt](https://docs.coolwater.xyz/llms.txt). Markdown versions of documentation pages are available by appending `.md` to page URLs; this page is available as [Markdown](https://docs.coolwater.xyz/blender-strategy.md).

# Blender Strategy

There are many participants involved within the Coolwater Blender Strategy. See below for definitions:

* Lead Strategist - The collateralized NFT lender who manages the lending Strategy that will be deployed on Blend.
* Strategy - The pool of capital managed by the Lead Strategist, which Depositors can contribute ETH into.
* Depositor - The individuals who loan (i.e., deposit) to a Lead Strategist's Strategy.
* Coolwater - The Coolwater.xyz platform, developed and serviced by Thaw Digital, which securely custodies Depositors assets, tracks and manages performance, and processes and distributes withdrawals and returns ($BLUR) to Depositors.
* Borrower - The wallet holder who owns an NFT and enters into a collateralized-loan agreement with the Lead Strategist's Strategy on Blend.
* Farmer - Generic term for anyone who bids to purchase and/or bids to lend on Blur.
* Lender - Generic term for anyone who originates loans on Blend