A shared vocabulary.
Clear definitions for the terms used throughout the interface, protocol, and research specification.
Protocol terms
| Term | Meaning |
|---|---|
| RMM | Replicating market maker: an AMM calibrated toward a chosen reference payoff shape. |
| LP | Liquidity provider, or the pool-specific token representing a proportional reserve claim. |
| Raw token | The underlying ERC-20 amount before any issuer UI-share multiplier. |
| Risky unit | The fixed creation-time raw-token lot used in the curve and strike denomination. |
| Strike | The USDG-per-risky-unit model parameter K, fixed for a pool. |
| Horizon | The intended duration until the pool's immutable expiry. |
| Cutoff | The time five minutes before expiry when swaps and new supply stop. |
| Calibration | The pool's immutable assets, units, strike, volatility, expiry, fees, and math identity. |
| Signed offset κ | The difference between normalized stable reserves and the reference curve g. |
| NAV | Net asset value: an inventory valuation at a stated reference price. |
| Slippage | A difference between previewed and executed amounts, constrained by transaction limits. |
| Allowance | A token owner's permitted spending amount for a specified contract. |
| Keeper | A process that publishes or triggers allowed maintenance actions. |
| WAD | A fixed-point scale of 10¹⁸ used for normalized contract mathematics. |
Is this an option?
No separate option liability is issued. The reference inventory shape resembles stock minus a call, but LPs own reserves rather than a promise from an option buyer. There is no exercise right, strike settlement payment, or separately accrued option premium.
Is yield guaranteed?
No. Actual trading can generate LP fees, but inventory losses or model divergence can outweigh them. The current application does not present invented APR, APY, or a guaranteed ending value. Future staking distributions would require actual funded protocol fees.
Can I withdraw only USDG?
This release returns the proportional pair of stock token and USDG. Selling the stock portion is a separate swap, if trading conditions permit. Expiry does not promise that the pool holds only USDG.
Do I need VANTA?
No VANTA token is required to create a pool, supply, trade, or withdraw. ETH on the selected network is required for transaction gas. VANTA and vVANTA staking are proposed later-phase features and are not enabled. A pool LP token is a different asset from the proposed VANTA token.
What does a real local transaction mean?
Approvals, swaps, LP minting, and LP burning execute in Solidity on an actual local EVM. The receipt, balances, and reserve changes are real state on that local chain. The mock assets have no market value, the stock reference is a test input, and this is not a public-network deployment.