Terms shown in bold on the Overview and How it works pages, in alphabetical order, with the name the code uses and the page that explains each.

Terms

Approval Safe

The Safe that approves, cancels and executes the reopen of a frozen market. It also calls the issuance token’s rebind and metadata functions and the other functions listed for it on the Authority page. One approval Safe is set per factory on ReferenceCurveFactory_v1 and copied into each market at creation. Code: approveReopen, cancelReopen, executeReopen. Explained in: Authority.

Band

On a bounded curve, the premium supply that follows the reference segment. Across the band, the price rises along an S-shaped path from the reference price to the target multiple times the reference price. Code: none on chain. The configuration code packs the band into segments. Explained in: Curve shape.

Band width

The length of the band as a share of the reference segment’s capacity. Code: config bandSupplyShareBps. Explained in: Curve shape.

Base commission

The early-access fee rate before the fee multiplier, in basis points. The schedule has one entry per loop count, starting with the entry for a direct purchase. Code: getBaseCommissionBps, setBaseCommissionBpsAndPriceBreakpoints. Explained in: Early access.

Base market

The market whose issuance token is the collateral token of a connected market. Code: knxCurve in AtomicRouterBase_v1. Explained in: Connected markets.

Borrowing fee

The code’s name for the origination fee. Code: setBorrowingFeeRate, getBorrowingFeeRate. Explained in: Fees and routing.

Bounded

A configured curve layout made of the reference segment, then a band that rises to the target multiple of the reference price, then a tail that rises in a straight line at a lower slope. Code: a curve policy option in the configuration code. The contract stores segments only. Explained in: Curve shape.

Buy fee

The fee charged on the deposit of each buy, in basis points. The market sends it to the fee treasury. Code: setBuyFee, getBuyFee. Explained in: Markets and curves.

Collateral token

The ERC-20 token that a market’s buys take and its sells pay out. Code: getCollateralToken. Explained in: Markets and curves.

Connected market

A market whose collateral token is the issuance token of another market, the base market. Code: ReferenceCurve_v1; knicksCurve in AtomicRouterBase_v1. Explained in: Connected markets.

Credit

The module that lends a market’s collateral token against locked issuance tokens, valued at the reference price. Code: CreditFacility_v1. Explained in: Credit and looping.

Critical selector

A function selector that the role authorizer allows to be granted only to a named role. A named role is neither PUBLIC_ROLE nor token-gated, and its admin role is neither. The set of critical selectors is compiled into the authorizer. Code: _isCriticalSelector, _requireCriticalGrantee. Explained in: Authority.

Curve shape

The layout of the premium segments that a market holds above its reference segment. The contract accepts any layout that meets the segment rules. The configuration code offers two layouts, flat and bounded. Code: none on chain. The contract stores segments only. Explained in: Curve shape.

Delegate

The address that receives each endowment draw on an endowed market. The endowment admin sets the delegate while the endowment controller is disarmed. The contract names this address beneficiary. Code: setBeneficiary. Explained in: Endowed reference segment.

Disable call

A call that closes a trading switch for buying or selling and increments that direction’s disable epoch. Every call increments the epoch, including a call on a closed switch. Code: disableBuy, disableSell. Explained in: Markets and curves.

Distributable amount

A splitter’s whole balance of a token, less any elevation value already pending for that token. A fetchFunds call divides this amount. Code: fetchFunds; pending value getPendingElevationReserved. Explained in: Fees and routing.

Draw bound

The limit on draws from an endowed market’s reserve. Total outstanding draws after a draw must be at or below the reference price times the lower of supply and the reference segment’s size. Endowment draws and credit draws share this bound. Code: _requireEndowmentHeadroom. Explained in: Endowed reference segment.

Early access

A phase before public buying in which the presale module buys a market’s issuance token on the curve for each buyer, holds it, and releases it to the buyer after the phase closes. “Early access” names the phase and “presale module” names the contract. Code: Presale_v1. Explained in: Early access.

Early-access fee treasury

The SplitterTreasury_v1 that receives early-access fees. The factory creates it together with the presale module, and it is a separate address from the market’s fee treasury. Code: attachPresaleWithTreasury. Explained in: Fees and routing.

Elevation

Raising the reference price with collateral supplied in the call. The contract walks the premium steps upward from the reference price and adds each step that the budget covers to the reference segment. Code: elevate. Explained in: How the reference price increases.

Elevation fee address

The address to which a splitter transfers the elevation percentage of each payment. Code: getElevationFeeTreasury, setElevationFeeTreasury. Explained in: Fees and routing.

Elevation keeper

An address that holds ELEVATION_KEEPER and calls the elevation treasury’s elevate. Code: ELEVATION_KEEPER. Explained in: Authority.

Elevation percentage

The share of each payment, in basis points, that a splitter sends first to the elevation fee address. Code: getElevationFeePercentage, setElevationFeePercentage. Explained in: Fees and routing.

Elevation treasury

The market’s ElevationTreasury_v1 contract. It holds collateral and passes it to the curve’s elevate when an elevation keeper calls the treasury’s elevate. Code: ElevationTreasury_v1. Explained in: Fees and routing, How the reference price increases.

Elevation treasury share

A splitter setting: an optional destination address and its share count, counted together with the recipient shares. The splitter offers the destination its slice of each payment, and the destination pulls it. In the shares launch mode the destination is the market’s ElevationTreasury_v1. Code: setElevation, getElevationTreasury, getElevationShares. Explained in: Fees and routing.

Emergency Safe

The Safe that freezes a market and calls the emergency functions of the Governor beacon controller. It is set with the approval Safe as a pair, and it is the guardian’s recovery Safe at creation. Code: freeze, emergencyShutdown, emergencyCancel. Explained in: Authority.

Enable call

A call that opens a trading switch for buying or selling. It takes the current disable epoch as an argument and reverts if the epoch does not match. Code: enableBuy(uint256), enableSell(uint256). Explained in: Markets and curves.

End timestamp

A time at and after which the presale module treats early access as Closed, whatever its stored state. A value of 0 means no end timestamp is set. Code: setEndTimestamp. Explained in: Early access.

Endowed

A reference-segment option in which a registered endowment controller can draw collateral from the reserve behind the reference segment and send it to a delegate. A market is endowed when its ReserveManager_v1 is initialized with an endowment controller address and an endowment admin address. Code: ReserveManager_v1 endowment fields, registerEndowmentController. Explained in: Endowed reference segment.

Endowment controller

The contract that draws from the reference segment’s reserve on an endowed market and sends each draw to the delegate. Code: EndowmentController_v1. Explained in: Endowed reference segment.

Endowment setup

The state that initialization opens on an endowed market’s reserve manager and curve. While setup is open, buys, sells, credit draws, endowment draws and arm revert. The endowment admin closes setup with finalizeEndowmentSetup, and no call reopens it. Code: registerEndowmentController, activateEndowment, finalizeEndowmentSetup. Explained in: Endowed reference segment.

Execution budget

In an early-access purchase, the deposit less the provisional early-access fee. The presale module buys on the curve with this amount. Code: buyPresale, buyPresaleWithLoops. Explained in: Early access.

Fee treasury

The SplitterTreasury_v1 contract to which a market sends every fee it charges. It divides each payment between elevation and a list of recipients in the same transaction. The factory creates it with the market, and no contract can change its address. Code: SplitterTreasury_v1, fetchFunds. Explained in: Fees and routing.

Flat

A configured curve layout in which every step has the reference price. Code: a curve policy option in the configuration code. The contract stores segments only. Explained in: Curve shape.

Issuance token

The ERC-20 token that a market mints on a buy and burns on a sell. The factory deploys one per market, bound to the market’s curve. Code: ERC20IssuanceCurveBound_v1, getIssuanceToken. Explained in: Markets and curves.

Keeper

An address that holds a keeper role and calls a function on a schedule set off chain. The keeper roles at launch are REBALANCER, held by the rebalance keeper, and ELEVATION_KEEPER, held by the elevation keepers. Code: REBALANCER, ELEVATION_KEEPER. Explained in: Authority.

Looping

Buying issuance tokens and borrowing against them, repeated in one transaction. Each repeat is a round. Code: buyAndBorrow, AtomicLoopRouter_v1. Explained in: Credit and looping.

LTV

Loan-to-value: the share of the locked tokens’ value at the reference price that the credit facility can lend, in basis points. Code: setLoanToValueRatio, getLoanToValueRatio. Explained in: Credit and looping.

Market

A ReferenceCurve_v1 contract that issues an issuance token in exchange for a collateral token, at prices set by a step curve over the issuance token’s supply. Code: ReferenceCurve_v1. Explained in: Markets and curves.

Origination fee

The fee charged on each amount the credit facility lends, in basis points. The facility takes it from the loan amount and sends it to the fee treasury. The code calls it the borrowing fee. Code: setBorrowingFeeRate, getBorrowingFeeRate. Explained in: Fees and routing, Credit and looping.

Outstanding draws

Collateral drawn from the curve and not yet restored: unbacked draws, which are endowment draws on an endowed market, plus the amounts drawn against ReserveManager_v1 positions opened by the credit facility or the staking manager. Code: getTotalUnbackedReserveDrawn, getTotalOutstandingReserves. Explained in: Endowed reference segment.

Performance fee

The share of each staking harvest, in basis points, that the staking manager sends to the fee treasury. Rounded up. Code: setPerformanceFeeBps, getPerformanceFeeBps. Explained in: Staking.

Position

The record in ReserveManager_v1 of locked issuance tokens and the collateral drawn against them. The credit facility opens one position per loan. The staking manager opens one position per staker and strategy. Code: openPosition, ReserveManager_v1 Position. Explained in: Credit and looping, Staking.

Premium segments

The segments of the curve after the reference segment. Code: getPremiumSections. Explained in: Markets and curves.

Price breakpoints

A list of prices in collateral per token, one fewer than the entries of the base commission schedule. After early access closes, tranche ii of a looped purchase record becomes claimable when the reference price is at or above breakpoint ii. Code: setBaseCommissionBpsAndPriceBreakpoints. Explained in: Early access.

Purchase record

The presale module’s record of one early-access purchase: its direct tokens and, for a looped purchase, one tranche per loan. The owner claims it with claimAll(positionId). The code calls it a Position. Code: Presale_v1 Position, getPosition, claimAll. Explained in: Early access.

Re-form

A rebalance that keeps the reference price and rebuilds the band and tail from the curve policy at the new reference-segment capacity. Code: rebalanceSegments. Explained in: How the reference price increases.

Rebalance

A call that replaces the curve with a complete new list of segments chosen by the caller, after the contract checks it. Rebalance is one of the two functions that increase the reference price. It uses collateral that the market already holds for supply bought above the reference price. Code: rebalanceSegments. Explained in: How the reference price increases.

Rebalance keeper

The address that holds REBALANCER and calls rebalanceSegments. At launch the role has one member, the keeper address in the market configuration. Code: REBALANCER. Explained in: Authority, How the reference price increases.

Recipients

The addresses on a splitter’s list, each with a share count. The splitter divides each payment, after the elevation percentage, by share count between the recipients and the destination of any elevation treasury share. Code: setRecipients, getRecipientsAndShares. Explained in: Fees and routing.

Reference price

The price of the reference segment, which is the lowest price on the curve. Code: getReferencePrice. Explained in: Markets and curves.

Reference segment

The first segment of the curve. It has exactly one step and a price increase of zero, and its price is the reference price. Code: getReferenceSection. Explained in: Markets and curves.

Reference-sell switch

A switch on the curve that, while closed, makes every sell to the curve revert. Only the registered endowment controller can call it. Opening it reverts while outstanding draws are above 0. Code: setReferenceSellsClosed. Explained in: Endowed reference segment.

Required core

The one AdminExecutionCore that the role authorizer records at initialization as the only address that can receive DEFAULT_ADMIN_ROLE. Code: productionAdminCore. Explained in: Authority.

Reserve

The collateral the curve contract holds. Buys add to it and sells release from it. Draws through ReserveManager_v1 move collateral out of it, and restorations move collateral back. Code: collateral balance of ReferenceCurve_v1. Explained in: Markets and curves.

Role authorizer

The AUT_Roles_v2 contract of a market that lists which roles can call each permissioned function of the market’s contracts. Code: AUT_Roles_v2, hasPermission. Explained in: Authority.

Round

One repeat in looping. In a round, the credit facility buys on the curve with the collateral it holds, locks the tokens that buy minted, and borrows against them. Code: buyAndBorrow; maximum per transaction getMaxLoops. Explained in: Credit and looping.

Safe

A Safe 1.4.1 multisig contract. Code: SafeIdentity141Lib. Explained in: Authority.

Segment

A run of equal-sized steps on the curve. A segment has an initial price, a price increase per step, a supply per step and a number of steps. A curve has at least 2 and at most 10 segments. Code: getSegments, PackedSegment. Explained in: Markets and curves.

Sell fee

The fee charged on the collateral released by each sell, in basis points. The market sends it to the fee treasury. Code: setSellFee, getSellFee. Explained in: Markets and curves.

Spot tolerance

The largest rise in spot, in basis points, that one call to rebalanceSegments can cause at the current supply. Code: getSpotToleranceBps, setSpotToleranceBps. Explained in: Curve shape.

Staking manager

The StakingManager_v1 contract that every market deploys. It locks a staker’s issuance tokens, draws collateral from the reserve against them at the reference price and deposits that collateral into an approved strategy. Code: StakingManager_v1, stake, withdrawFunds, harvestYield. Explained in: Staking.

Step

A run of tokens within a segment in which every token has the same price. Code: supplyPerStep, numberOfSteps. Explained in: Markets and curves.

Strategy

A vault contract, built on StrategyBase_v1, that holds a market’s collateral token for one staking manager. The staking manager deposits only into strategies it has approved. Code: StrategyBase_v1, addStrategy, removeStrategy. Explained in: Staking.

Tail

On a bounded curve, the supply that follows the band. Across the tail, the price rises in a straight line from the target multiple times the reference price, at a slope lower than the band’s average slope. Code: config tail.bands, tail.slopeSampledAt. Explained in: Curve shape.

Target multiple

Spot divided by the reference price at the band’s top. Code: config targetRatioBps. Explained in: Curve shape.

Tranche

The part of a looped purchase record that belongs to one loan. Tranche ii uses price breakpoint ii. Code: claimAll, _isTrancheClaimable. Explained in: Early access.

Virtual collateral supply

The curve’s running total of collateral from trades: a buy adds its net deposit and a sell subtracts what it pays out. Draws and restorations through ReserveManager_v1 do not change it, so the reserve can be below it. Code: getVirtualCollateralSupply, VirtualCollateralSupplyBase_v1. Explained in: Markets and curves.

Retired terms

Source: house-markets/contracts at 0ebbc89a (branch integration/v12-post-qa).