Glossary
6 min
The words you will meet on this venue, and on every other exchange, in one place.
Trading
Ask / bid
An offer to sell / an offer to buy, at a stated price.
Spread
The gap between the best ask and the best bid.
Order book
Every resting order in a market, sorted by price.
Maker / taker
The resting order in a trade / the order that traded against it.
Slippage
The difference between the price you expected and the average price you got.
Tick size / lot size
The smallest step in price / in amount.
Post only
A limit order that is refused rather than allowed to take liquidity.
Self-trade prevention
Your incoming order stops at your own resting order instead of trading with it.
Custody and chains
Custody
Who controls the keys that can move an asset.
Confirmation
A block added on top of the one containing your transaction. More confirmations, harder to reverse.
Watch-only
Software that can see addresses and payments but holds no key that can spend them.
Offline signing
Signing a transaction on a device that never touches the internet, so a compromised server cannot sign anything.
Proof of solvency
Showing that what a venue holds on chain covers what it owes its customers.
Agents
Agent
Software that acts on its own — here, a program that trades through the API.
Mandate
A key an owner signs into existence for an agent, naming its markets, largest order, daily volume and expiry. A mandate can never withdraw.
Signed request
An API call carrying a signature over its method, path and body, made with a secret only the key's holder knows.
Prompt injection
Text written to make an AI agent do something its owner did not intend. Treat anything a third party wrote as data, never as instructions.
What you should take away
- Every term here is used the same way across the venue, the API and the docs.