Glossary

Available balance — Funds not currently reserved for orders or margin.

Bonding — Launchpad stage in which a token is progressing through a bonding curve before full liquidity migration.

Bonded — Token that completed the bonding phase according to its launchpad.

Cost basis — Value used to measure profit or loss relative to acquired assets.

Gas — Blockchain execution fee.

Holder concentration — Share of supply controlled by the largest wallets.

Limit order — Order that executes only at the specified price or better, subject to venue rules and liquidity.

Liquidity — Assets available for trading in a pool or order book.

Liquidation price — Estimated price at which a leveraged position can be forcibly reduced or closed.

Market cap — Token price multiplied by the relevant supply measure; methodology can vary.

Market order — Order intended to execute immediately against available liquidity.

Mark price — Venue reference price used for unrealized P&L and liquidation calculations.

Open interest — Outstanding notional value of open derivatives positions.

Price impact — Estimated movement caused by the order itself.

Reserved / margin — Funds committed to orders or positions.

Slippage — Difference between expected and executed price.

TIF / expiry — Time-in-force or expiration rule for an order.

Unrealized P&L — Estimated gain or loss on a position not yet closed.