Glossary

Batch. A run of 21 L1 blocks: 16 to commit, 5 to reveal. Numbered from zero at deployment.

Commitment. keccak256(abi.encode(trader, batch, market, side, amount, limitPx, salt)). Binding the trader and the batch into the hash stops anyone from replaying your commitment as their own or into another batch.

Bond. 1 USDG locked by each commitment. Returned on reveal. If the order is never revealed, the bond is forfeited to stakers and the treasury.

Vault balance. What the contract owes you, per token. Free balance can be withdrawn at any time; locked balance belongs to a revealed order that has not settled.

Midpoint. The price in the pool's slot0, before the pool fee. For a buyer it is below what a swap would pay, for a seller above.

Price sample. A reading of the midpoint recorded during the batch, at most one per L1 block per market. Settlement compares its price to the average of these.

Usable amount. For a buy order, the part of the locked USDG that can be spent on shares once the fee budget is set aside: amount × 10000 / (10000 + feeBps).

Void. A batch outcome where nothing fills and every order goes back to its trader.

Dust. The remainder of integer division during settlement. Always rounded toward the venue and credited to the treasury.