# Glossary

> Definitions of the terms used across BotRadix.

Source: https://docs.botradix.com/glossary/

| Term | Meaning |
|---|---|
| Advance-notice gate | The contract (`BotradixAvisoPrevio`) that administers the DEX router: code changes and ordinary router operations follow their notice (0 hours today), and immediate protective actions do not wait. Cross-margin and business logic can be replaced without mandatory notice while the contracts are open. See [Security and contracts](https://docs.botradix.com/security-contracts/#the-prior-notice-gate) |
| Agent wallet | On Hyperliquid, a secondary wallet authorized to trade for your account but not to withdraw. BotRadix bots use one created only for them. See [Connecting exchanges](https://docs.botradix.com/exchanges/) |
| API key | A credential for the DEX API v1 (`BRX…`), linked to your wallet, with scopes that limit what it can do. Under the current code it cannot authorize withdrawals. See [API](https://docs.botradix.com/api/) |
| BAQ | The BotRadix token on Base. It unlocks bot limits and can be deposited as supplementary collateral. See [BAQ](https://docs.botradix.com/baq/) |
| BAQ reserve | A protocol reserve that receives, with the v2.2 reference values, 10% of the protocol opening fee (not the service fee) and of isolated penalties, and backs the BAQ collateral credit |
| Auto-deleveraging (ADL) | The early reduction or closing, at the oracle price and without a closing fee, of winning positions when the vault is at risk; the cap and funding apply, and any uncovered part is deferred. See [Leverage and margin](https://docs.botradix.com/margin/#backed-take-profit-and-auto-deleveraging) |
| Backed take profit | A take profit for which the vault has reserved capacity within the cap. While backing remains valid, its position is not closed by ADL; it is not a payment guarantee in every scenario |
| Base | An Ethereum layer-2 network (chain ID 8453) where the BotRadix DEX runs |
| Basis point (bp) | One hundredth of a percent: 1 bp = 0.01%. A 6 bps fee is 0.06% |
| Collateral | Funds deposited in the DEX to back your positions: USDC, and BAQ as a limited credit |
| Cross margin | A mode in which all your free collateral backs all your cross positions together |
| DCA | Dollar-cost averaging: adding to a position at better prices to improve its average entry. Used by the Quant bot |
| Co-signer | A BotRadix service, on a separate server, whose second signature every Uniswap bot swap needs |
| Deferred payment | A profit recorded for later payment if the vault and reserves were ever insufficient |
| EIP-712 | The standard for signing structured data with a wallet. BotRadix uses it for trading keys, sessions and signed orders |
| EMA | Exponential moving average; the trend reference used by the Quant bot |
| Emergency | A final state of the DEX, confirmed by anyone 72 hours after a challenge without observations of USDC or of markets with positions (or declared by the administrator): trading stops, markets are fixed at the price and funding of the emergency instant and profits are paid pro rata from available liquidity. See [Exit without BotRadix](https://docs.botradix.com/exit/) |
| Equity | The value of a cross account: free USDC plus unrealized PnL, minus fees, funding and debt, plus the BAQ credit |
| Execution permission | A one-time authorization, granted with a free signature, that lets the keeper execute your resting orders, take profit and stop loss for a small fee. See [Fees](https://docs.botradix.com/fees/#execution-permission) |
| Executor | A protocol account that submits the actions you sign and pays their gas |
| Exit contract | The contract (`BotradixSalida`) that lets any wallet close its own positions and withdraw from BaseScan. See [Exit without BotRadix](https://docs.botradix.com/exit/) |
| Funding | Periodic payments between longs and shorts that keep the market balanced. See [Funding](https://docs.botradix.com/funding/) |
| Grid bot | A bot that buys and sells at predefined levels inside a price range. See [Grid bot](https://docs.botradix.com/grid/) |
| Health factor | Account equity divided by its maintenance margin. At 1 or below, positions can be liquidated |
| Initial margin | The collateral needed to open a position: size divided by leverage |
| Isolated margin | A mode in which a position has its own margin; losing it does not affect the rest of the account |
| Keeper | The protocol service that executes resting orders, take profit, stop loss, funding updates and liquidations |
| Leverage | The ratio between position size and margin. 10x means a 1,000 USDC position with 100 USDC of margin |
| Liquidation | The forced closing of a position whose margin can no longer cover losses. See [Liquidation](https://docs.botradix.com/liquidation/) |
| Liquidation price | The price at which a position becomes liquidatable |
| Maintenance margin | The minimum margin a position must keep: 0.5% of its size on the BotRadix DEX, unless a market has its own value; fixed when the position opens |
| Maker / taker | Maker: a limit order checked against a valid price, unable to execute and left resting (v2.2 reference fee 0.03%); taker: everything else, including the first execution of a limit order placed while the market is closed (v2.2 reference fee 0.06%) |
| Maximum profit | The highest profit a position can realize (profit cap). See [Leverage and margin](https://docs.botradix.com/margin/#profit-cap) |
| Open interest (OI) | The total size of open positions in a market |
| Open phase | The current consolidation phase in which the contracts remain upgradeable by the administrator. See [Security and contracts](https://docs.botradix.com/security-contracts/) |
| Oracle | The system that supplies prices to the contracts. On BotRadix, PairForge. See [Prices and oracle](https://docs.botradix.com/oracle/) |
| PairForge | Market-data and oracle provider the DEX prices come from. On Base, those prices are signed by BotRadix's reporters and checked by the hub contract |
| Permit (EIP-2612) | A signature that authorizes a token transfer without a separate approval transaction; used for gas-free USDC deposits |
| Pause-only key | A key that can pause the DEX or withdrawals but can never resume them |
| Perpetual future | A derivative that tracks an asset's price with no expiry date, kept close to the market price by funding |
| PnL | Profit and loss. **Unrealized** while the position is open, **realized** once it is closed |
| Pro-rata distribution | In an emergency, every winner receives the same percentage of their claim from the available funds; the rest remains deferred |
| Position size (notional) | The value of a position in USDC, before leverage is considered |
| Quant bot | BotRadix's trend-following bot with DCA. See [Quant bot](https://docs.botradix.com/quant/) |
| Reduce-only | A state in which positions can only be reduced or closed, not opened or increased |
| Reporter | A PairForge service that reads prices from exchanges and signs them. A price needs 2 of the 3 reporters |
| Resting order | A limit or stop order waiting for its price before executing |
| Sealing | Future steps by component that restrict specified upgrade paths. None is active today; sealing one part does not freeze the entire system or every parameter |
| Settled market | A market fixed at its last observed price after 3 days without prices, whose positions anyone can close at that price |
| Slippage | The difference between the expected price and the execution price. Your maximum slippage protects the order |
| Stop loss / take profit | Orders that close a position automatically at a loss limit or a profit target |
| Synthetic pair | A market priced as the ratio of two assets, such as GOLD/BTC, settled in USDC |
| Trading key | A key kept in your browser and authorized by your wallet to trade without a signature per order. It cannot withdraw. See [Signatures and trading sessions](https://docs.botradix.com/sessions/) |
| Trading session | A time-limited authorization (8, 24 or 72 hours) to relay your orders, used when a trading key is not available |
| Vault | The protocol's liquidity pool that pays traders' profits and receives their losses and, with the v2.2 reference values, 90% of the protocol opening fee |
| Webhook | An HTTPS notification that the DEX API sends to your server when an account event happens. See [Real-time data and webhooks](https://docs.botradix.com/api-realtime/) |