REFERENCE
Terms
| Term | Meaning |
|---|---|
| Bonding curve | A pricing formula used to buy and sell a token before graduation |
| Graduation | The funded transition from the curve into the spot pool and margin market |
| Creator bond | The refundable 5 HYPE posted when launching a token |
| Margin | USDC collateral supporting a borrowed-asset position |
| Leverage | Exposure relative to posted margin, up to the contract's limit |
| Principal | The actual USDC or token quantity borrowed |
| Mark price | The operator-published price used to assess position health |
| TWAP | A time-weighted average price over an observation window |
| Equity | The remaining marked position value after debt and applicable charges |
| Maintenance | The equity threshold used for liquidation eligibility |
| Price impact | The change in average execution price caused by the order itself |
| Slippage | The difference allowed between a quote and the eventual execution |
| LP share | A claim on a liquidity pool's assets, subject to the pool's rules |
| Claimable payout | USDC already credited by a market and ready for collection |
| Bad debt | Borrowed principal that an actual unwind failed to recover |