Glossary

Amplified Liquidity​

An offer on Oxium that is undercollateralized.

Base / Quote​

Base token is the traded asset, quoted in Quote token.

Bounty

A portion of an offer provision that is sent to the taker to compensate a failure to deliver.

Cleaning Bot​

An off-chain bot that keeps the order books clean by sniping failing offers.

Density​

The ratio of tokens promised by an offer over the gas it requires to be executed.

Dual offer​

An offer that is posted as a consequence of previous offer being taken.

gasLimit

The maximum gas requirement the taker will tolerate for an offer.

gasprice

An estimate of the price of a gas unit in native token amount.

gasreq

An upper bound of the gas units that an offer requires when called by Oxium.

Gives

The volume of tokens an offer promises in exchange of the full volume of required (or wanted) tokens.

Hook

Internal functions in the building blocks of the Strat Lib, which may be overridden to change the default behavior of an offer logic.

Inbound​

The token type that an offer taker must send.

Keeper Bot​

An off-chain bot that helps keep Oxium functioning optimally.

Last Look​

Feature of an offer logic that verifies whether trade execution should be cancelled.

Maker Contract​

A maker contract is a smart contract that is bound to a smart offer posted on Oxium.

Maker Partial Fill​

When an incoming order partially takes the volume given by an offer.

makerExecute​

Callback function of an offer logic that is called by Oxium prior to trade settlement.

makerPosthook​

The callback function of an offer logic that is called by Oxium immediately after trade settlement.

Offer ID​

The identifier of an offer in a given offer list.

Offer List​

A list of offers on the same token pair, ranked from best price to worst price.

Offer Logic​

The part of a maker contract that is executed as a consequence of a call by Oxium when processing a market order.

Offer Owner​

An account that is allowed to post, update or retract a specific offer posted by a maker contract.

On-the-fly Offer​

An offer posted by an EOA, in contrast with a smart offer, which is posted by a smart contract.

Outbound​

The token type that an offer taker will receive.

Price

Amount of quote tokens per base token that an offer demands or a taker is willing to pay

Provision

An amount of native tokens that is attached to a live offer on Oxium and that is used to compensate a fail-to-deliver.

Ratio

The ratio 'wants/gives' between the amount an offer 'gives' and the amount it 'wants'.

Reactive Liquidity​

Liquidity providers can post offers that are not fully provisioned. It is enough that their code brings the promised liquidity at match-time. In the meantime, it can be put to work.

Renege​

Makers can renege on the offer to trade by incorporating defensive code in the maker contract (e.g., because the market conditions changed).

Reserve identifier​

An immutable address identifying the fund owner when using a router

Router

A smart contract building block provided by the Strat Lib that is used by an offer logic to manage liquidity in a modular fashion.

Smart Offer​

An offer that is bound to a smart contract, as opposed to an on-the-fly offer.

Taker Fee​

A portion of the tokens promised to the taker that are sent to the Oxium protocol's vault.

Tick​

A 'price point' corresponding to the ratio 1.0001^tick

tickSpacing​

Controls the granularity of available price points in an offer list.

Wants​

The volume of tokens an offer wants in exchange of the full volume of promised (or given) tokens.