The words below come up across these docs. Each entry says what the term means in ZKDepth and points to the chapter that explains it.
Trading
Carry. What a hedged position earns per year before price moves: the pool's fee APR plus the perp funding a short receives (hourly funding × 8,760). ZKDepth flags 8 % or more as worth watching and 20 % or more as strong. See Using the app.
Funding. The periodic payment between longs and shorts that keeps a perp's price near its index. Positive funding means longs pay shorts. See Perps on Lighter.
Hedge. A liquidity position paired with a perp short sized to the position's delta, so price moves on the two legs roughly cancel and the fees remain. See Hedged vaults.
Idea. A position published with the argument for it and its running PnL. Mirroring one opens the same kind of position at your own size. See Lounge and Ideas.
Limit order. A one-sided liquidity position placed entirely above or below the price. It converts as the price crosses it and earns swap fees while it waits. See Limit orders.
Order key. A Lighter API key the signer service holds for you. It can place and cancel orders on your Lighter account and has no way to withdraw. See Perps on Lighter.
Price impact. How much worse a route's rate is than the rate for a tiny trade on the same hops. See Swaps and routing.
Slippage. The most the output may fall short of the quote before the transaction reverts. You set it per trade, and the app turns it into a minimum amount out.
Liquidity
Anti-snipe fee. A fee that starts high when a pool opens and falls in a straight line to the base fee, within one hour at most. See ZKDepth pools.
Bin, bin step and active bin. A DLMM pair splits its price range into discrete bins. The bin step is the price distance between neighbours, 1 to 100 bps. The active bin is the one that holds both tokens, where swaps fill. See ZKDepth pools.
DAMM. A Uniswap v4 pool on ZKDepth's DammHook, whose fee is a base rate plus a surcharge that rises with recent price movement. See ZKDepth pools.
DLMM. ZKDepth's pair where liquidity sits in discrete price bins, each trading at one exact price. See ZKDepth pools.
Harvest. Collecting a position's earned swap fees, and on a vault or an automated position, adding them back as liquidity. A harvest pays 10 % of the fees to the protocol, never any principal. See Position automation.
Range. The price interval a concentrated position is active in, written as two ticks. Outside it the position holds one token and earns nothing. See One-token deposits.
Rebalance. Closing a position that has drifted out of range and opening a new one centred on the current price. See Position automation.
Stock pool. A v4 pool on StockHook for a tokenized stock. Every swap must leave the price inside a band around the Chainlink price, and the band and fee follow the market session. See ZKDepth pools.
Zap. One transaction that takes a single token, swaps the part the range does not need, mints the position and refunds the rest, for 25 bps of the input. See One-token deposits.
Vaults and notes
Equity jump and stale report. A hedge report that moves equity by more than 15 %, or a last report older than one hour. Either pauses a hedged vault's deposits and withdrawals. See Hedged vaults.
ERC-4626. The standard interface for tokenized vaults: you deposit an asset and receive shares whose value follows the vault's total assets.
Sleeve. One part of a structured note's capital. A Protected note puts 85 % into SGOV, a T-bill token. See Structured notes.
TWAP guard. The check run before value moves at a pool's price: spot must be within 3 % of its 30-minute average, over at least 10 minutes of history. See Vaults.
Private balance
Note. A private balance entry: an amount of one asset, held as a commitment in the shielded pool's tree. Any token, ERC-4626 share, LP vault share, DLMM bin share or perp position can be a note. See Private balance.
Commitment. The hash stored on chain in place of a note: Poseidon(amount, assetId, ownerBlind). For a deposit the pool computes it from the amount that actually arrived.
Nullifier. The value published when a note is spent: Poseidon(commitment, leafIndex, nk). The pool stores it so a note spends once, and it does not reveal which commitment was spent.
Viewing key. A key derived from a fixed request your wallet signs. It finds your notes when the client scans the pool's events and recognises the spent ones, and it cannot spend them. See Keys.
Relayer. A service that submits your proof and takes its quoted fee from the note, in private WETH or in the note's own token if it takes that token. Anyone can run one, the proof binds its address and fee, and by default it spends gas only on adapters and tokens of the deployment. See Lanes.
Fresh address. A one-time address derived from your keys: a withdrawal target that does not link back to your wallet, or the sender of a spend with no relayer fee, which needs a little ETH. See Keys.
Position note. A perp position held as one share in custody, with a random share id its owner picks. See Private perps.
Adapter. A contract a private action spends a note into. It runs the venue call and returns tokens to custody. You choose it and your proof binds it, so there is no allowlist. See Immediate lane.
Immediate lane. A private action that settles in one transaction. A failed minimum reverts the whole transaction, so the note stays unspent. See Immediate lane.
Sealed batch. A lane that gathers orders by epoch, crosses opposing totals at a reference price and routes only the net. It hides who placed each order and how much each was. The market, each side's order count and total, and the net stay visible. See Sealed batches.
Tranche. One side of a sealed market's run of orders. It collects until an epoch ends with at least minOrders in it, and voids if it never gets there within maxWait. See Sealed batches.
Keeper (sealed batch). One of the 3 services that each hold a share of every order's amount and publish only the sum. Keepers cannot move funds. All 3 together could read per-order amounts, not who placed them. See Sealed batches.
Anonymity set. The notes an action could have come from. All notes share one tree, so every asset adds to the same set. The app calls its live size the set size. See Private balance.
Launch
Graduation. Giving a tracked token a managed vault once it is at least three days old and its pools hold enough liquidity. Anyone can call it. See Token vaults and pre-market perps.
Opener. Whoever a launch names to make its one fill before the public opens. Only one from SealedMarkets.createLaunchOpener fills past the wallet limit at the base fee. Any other pays the whole protection fee and stops at the wallet limit. See Launchpad.
Launch vault. A vault that collects ETH before a token exists and spends all of it as the new pool's first swap, so every depositor pays the same average price. See Launch pools.
Pons. A token launchpad on Robinhood Chain. ZKDepth can route swaps through a Pons bonding curve and give a Pons token a ZKDepth pool. See Launch pools.
Pre-market perp. A perp on a virtual AMM for a token no venue lists yet: USDG margin, up to 3x, hourly funding. See Token vaults and pre-market perps.
Seasoned. A screener label for a token whose pool is at least three days old, whose market cap is above $1 million, and which traded at least 100 times in 24 hours. It is set off chain and no contract checks it. See Token vaults and pre-market perps.
Protocol
Bounty. A payment to whoever calls a permissionless function, such as a harvest, a limit-order fill or a liquidation. See Fees and referrals.
Keeper. Any account that calls ZKDepth's permissionless maintenance functions for the bounty. ZKDepth runs one as a bot. See Indexer, API and bots.
$ZKD. ZKDepth's token. Protocol fees are converted to ETH, which buys $ZKD and sends it to the burn address. See Buyback and burn.
Protocol share. The part of every ZKDepth pool's swap fee that goes to the fee collector: 20 % at deploy, never more than 50 %. See ZKDepth pools.
Referral share. 20 % of every fee that passes through the FeeRouter, credited to the payer's referrer when one is bound. See Fees and referrals.
USDG. The dollar stablecoin ZKDepth uses as its main quote asset on Robinhood Chain, and the margin of its perps.