> ## Documentation Index
> Fetch the complete documentation index at: https://docs.openfinance.tech/llms.txt
> Use this file to discover all available pages before exploring further.

# Glossary

> Look up any trading, wallet or agent term you meet in the OpenFinance docs, from basis points and bridges to perps, pUSD and TWAP, explained in plain language.

Each definition is kept to a line or two. The terms are grouped by topic, starting with trading, then order lifetimes, wallets and chains, and finally agents and the API.

## Trading terms

| Term | Meaning |
| - | - |
| Basis point | One hundredth of one percent. 100 basis points is 1% |
| Bonding curve | A pool that sells a new token at a price that rises as more is bought |
| Cross margin | All your positions share one pool of collateral |
| Funding rate | A periodic payment between long and short holders of a perp that keeps its price near the underlying price |
| Graduation | The point where a launched token leaves its bonding curve and its liquidity moves to a regular exchange pool |
| HIP-3 | Hyperliquid's framework for perps listed by independent deployers. Stock, index, commodity, FX and pre-IPO perps are HIP-3 markets |
| HIP-4 | Hyperliquid's outcome markets: shares in Yes or No outcomes, priced between 0 and 1 |
| Isolated margin | Collateral is set aside for one position only |
| Leverage | Trading a position larger than your collateral. It magnifies gains and losses |
| Limit order | An order to buy or sell at a price you name, or better |
| Liquidation | The venue closing a leveraged position because its collateral is no longer enough |
| Liquidity | How much can be bought or sold without moving the price much |
| Market order | An order that fills now at the prices on offer |
| Perp | A perpetual future: a contract that tracks a price with no expiry |
| Post-only | A limit order that is cancelled if it would fill immediately |
| Prediction market | A market where shares pay out depending on the outcome of an event |
| Reduce-only | An order that can only shrink a position, never open or flip one |
| Slippage | The gap between the price you expected and the price you got |
| Spot | Buying or selling the asset itself, with no leverage |
| Stop-loss, take-profit | Orders that trigger when the price reaches a level you set |
| Tick size | The smallest price step a market allows |
| TWAP | A large order split into slices and worked over a set time |

## Order lifetimes

| Term | Meaning |
| - | - |
| GTC | Good till cancelled. Rests until it fills or you cancel it |
| GTD | Good till date. Rests until a time you set |
| IOC | Immediate or cancel. Fills what it can now and cancels the rest |
| FOK | Fill or kill. Fills completely now, or not at all |
| FAK | Fill and kill. Fills what it can now and cancels the rest |
| ALO | Add liquidity only. Another name for post-only |

## Wallet and chain terms

| Term | Meaning |
| - | - |
| Bridge | Moving value from one blockchain to another |
| Deposit wallet (Polymarket) | A separate smart-contract wallet for your account that holds the funds Polymarket trades from |
| Embedded wallet | A wallet created for you inside the app when you sign up. Yours is self-custodial, and you can export its keys |
| EVM | The family of chains that share Ethereum's address format, such as Ethereum, Base, Arbitrum and Polygon |
| Gas | What a network charges to process a transaction, paid in the chain's native coin |
| Onramp | Buying crypto with a card or bank transfer |
| pUSD | The dollar token Polymarket settles in |
| Robinhood Chain | An EVM chain (chain id 4663) where OpenFinance token launches and tokenized-stock pairs live |
| Smallest unit | A token amount written as a whole number with no decimal point. 1 USDC is 1000000 because USDC has 6 decimals |
| Tokenized stock | A token that tracks the price of a share. It is not the share itself |
| USDC | A dollar stablecoin. The only currency Hyperliquid accepts |
| USDC.e | A bridged form of USDC on Polygon. Some Polymarket winnings arrive in it and must be converted to pUSD |
| USDH | A dollar token used as collateral by a small number of HIP-3 markets on Hyperliquid |

## Agent and API terms

| Term | Meaning |
| - | - |
| Action | The operation you pick inside a multi-purpose tool, such as `place_order` inside `hyperliquid` |
| AI credits | The balance that pays for model usage in the chat and the inference API |
| API key | A secret that starts with `open_` and acts as your account |
| Asset index | The number Hyperliquid uses to identify a market in an order |
| Inference API | An OpenAI-compatible endpoint for calling AI models from your own code |
| MCP | Model Context Protocol, a standard way for AI clients to call external tools |
| OAuth | Signing in through a browser page so your client receives a token instead of a pasted key |
| Skills | Playbooks that teach a coding agent how to use the OpenFinance tools well |
| Streamable HTTP | The transport the OpenFinance MCP server uses |
| Tool | One capability an MCP server offers to an AI client |

## Next

> [card] [Markets overview](https://docs.openfinance.tech/markets/overview.md)
>
> See the terms in context.

> [card] [MCP overview](https://docs.openfinance.tech/mcp/overview.md)
>
> How agents connect.


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