# Offer Lists ## General structure {% hint style="info" %} The offer list is the basic Mangrove data structure. It contains offers (created by offer makers) that promise an **outbound token**, and request an **inbound token** in return (offer takers execute these offers by providing the **inbound token**, and receive **outbound tokens** in return). For example in a DAI-wETH offer list, DAI is the outbound token (i.e. sent or given by the offer) and wETH the inbound token (i.e. received or wanted by the offer). Relationship to markets: a full market will always feature two offer lists. For instance, a wETH/DAI **market** has one DAI-wETH offer list (where wETH is requested and DAI is offered), and a wETH-DAI offer list (where DAI is requested and wETH is offered).\ \ [Mangrove's API ](/mangrove-core/explanations/around-the-mangrove/mangrove-api.md)offers Market abstractions that allows liquidity providers and takers to interact with Mangrove using standard **base &** **quote** denominations. {% endhint %} Here's a sample DAI-wETH offer list with two offers. Only the main characteristics of the offers are shown (see the [offer data structure](/mangrove-core/technical-references/taking-and-making-offers/reactive-offer/offer-data-structures.md#mgvlib-offer)). {% hint style="warning" %} **Decimals** We display human-readable values in the examples, but Mangrove stores raw token values and never uses the `decimals` field of a token. {% endhint %} | Rank | Offer ID | Wants (wETH) | Gives (DAI) | Gas required | Maker Contract | Offer Gas Price | | ---- | -------- | ------------ | ----------- | ------------ | -------------- | --------------- | | #1 | 77 | 1 | 2 925.26 | 250,000 | 0x5678def | 150 | | #2 | 42 | 0.3 | 871.764 | 300,000 | 0x1234abc | 200 | ## Some terminology ### Offer rank Offers are ordered from best to worst. Offers are compared based on *price*, and then on *gas required* (see below) if they have the same price. {% hint style="info" %} **Example** The price of offer #42 is 0.0003441298 wETH per DAI while the price of offer #77 is 0.00034185 wETH per DAI. Offer #77 is therefore the best offer (lowest price) of this offer list, and is ranked first. {% endhint %} ### Offer ID The identifier of the offer in the offer list. {% hint style="danger" %} **Important** Two offers may have the same ID as long as they belong to different offer lists. For instance, there may be an offer #42 on the wETH-DAI offer list with different volumes, gas required, maker contract, etc. than offer #42 in the DAI-wETH offer list shown above. {% endhint %} ### Wants, gives and entailed price Taken together, the **wants** and **gives** values define 1) a max volume, 2) a price. The **entailed price** is p=**wants**/**gives**, and an offer promises delivery of up to **gives** outbound tokens at a price of p tokens delivered per inbound token received. {% hint style="info" %} **Examples** * Offer #42 *wants* 0.3 wETH to deliver its promised 871.764 DAI. * If offer #77 is executed and receives 0.5 wETH, it must send back 1462.63 DAI. {% endhint %} ### Gas required The maximum amount of gas the [Maker Contract](/mangrove-core/technical-references/taking-and-making-offers/reactive-offer/maker-contract.md) managing the offer will be allowed to spend if called by the Mangrove. {% hint style="info" %} **Example** Offer #77 may consume up to 250K gas units. {% endhint %} ### Maker Contract The address of the [offer logic](/mangrove-core/technical-references/taking-and-making-offers/reactive-offer/maker-contract.md#offer-logic) managing the offer. The `makerExecute` function of this contract will be called when one of its offers is executed. ### Gas Price Gas price that was used to compute the [offer provision](/mangrove-core/technical-references/taking-and-making-offers/reactive-offer/offer-provision.md). If the offer fails to deliver the promised **outbound tokens**, it will be charged in ETH based on this gasprice. ## Offer list configuration Several [configuration](/mangrove-core/technical-references/governance-parameters/mangrove-configuration.md) parameters determine how new offers are inserted. Some are [global](https://docs.oxium.xyz/mangrove-core/technical-references/taking-and-making-offers/pages/pF6T9izqF21UiijXXJft#mgvlib.global) to Mangrove, some are [offer list specifics.](https://docs.oxium.xyz/mangrove-core/technical-references/taking-and-making-offers/pages/pF6T9izqF21UiijXXJft#mgvlib.local) See [Governance](/mangrove-core/technical-references/governance-parameters.md) section for details. --- # Agent Instructions: Querying This Documentation If you need additional information that is not directly available in this page, you can query the documentation dynamically by asking a question. Perform an HTTP GET request on the current page URL with the `ask` query parameter: ``` GET https://docs.oxium.xyz/mangrove-core/technical-references/taking-and-making-offers/market.md?ask= ``` The question should be specific, self-contained, and written in natural language. 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