Glossary

The app uses exact words for things that are easy to confuse. This is the short version. The full domain glossary lives in CONTEXT.md at the repo root.

Trading

Perpetual (perp) A crypto position that bets on price going up or down and never expires, so you can hold it as long as you like.

Venue A perps exchange you trade against, or a synthetic stand-in for development. Each Venue is its own module that implements the Adapter port. Avoid calling it an exchange, DEX, or provider in the code.

Adapter The single port the rest of the app talks to. Every Venue implements it, and nothing outside the composition root knows which Venue is live.

Account Value The total equity shown on the Portfolio page. The app treats it as an opaque number from the Venue. Also called Total Equity.

Margin The collateral you put down to open a position.

Leverage Trading a position larger than your margin alone. It multiplies both gains and losses, so higher leverage is riskier.

Maker and taker Maker means your order rests on the book and waits to be matched. Taker means your order fills against an order already there.

Funding A recurring payment exchanged between longs and shorts to keep the perpetual price near the spot price.

Getting ready to trade

Venue Onboarding The one-time, client-side flow that prepares your account to trade at a Venue. For Hyperliquid it is First Deposit, then agent-wallet approval, then builder-fee approval. You sign each step.

First Deposit A one-time milestone: whether this account has ever been funded at the Venue. Once satisfied it stays satisfied. A later withdrawal does not reopen it.

Tradeable Funds The live check that the account has positive value right now. It gates the Place Order button. This is separate from First Deposit, so emptying the account blocks trading without reopening onboarding.

Identity and wallets

User The person using the app, identified by their Privy ID. A User exists in our backend independently of any Venue.

Privy ID The stable Privy DID, a string like did:privy:.... It is our user identifier and the primary key of the users table. We do not mint our own id on top of it.

Wallet A chain and address pair you control. Either a Native Wallet that Privy provisions for you, or an Imported Wallet you linked yourself.

Agent Wallet The one wallet we provision for you. Its only job is to pay for AI suggestions in USDC. It never holds trading collateral and can only pay an approved AI provider, up to a cap and expiry you set.

Agent Balance The USDC in your Agent Wallet, used only for AI calls. Completely separate from your trading collateral.

AI suggestions

Suggestion engine The server-side system that asks several AI providers one request and merges their answers into a single result.

Provider One AI source behind the suggestion port. Today there is a free mock provider and a paid minara provider.

Directional, delta-neutral, no-trade The three possible outcomes of a suggestion. Directional means long or short with levels you can act on. Delta-neutral means the providers disagreed too strongly for a side to win. No-trade means they agree there is no setup worth taking.

x402 The payment standard used to settle a paid AI call from your Agent Wallet.

Viewing

Spectating Viewing the app keyed to any address instead of your own, through a ?spectate=0x... URL. Your own wallet is unchanged, and trading stays gated on it.

Viewing Address vs Acting Address The Viewing Address is what the observation screens show, which can be a spectated address. The Acting Address is what order flow uses, which is always your own connected wallet.