Glossary

Terms in bold are labels you will see in the web app.

Markets and trading

Term	Meaning
RAMX, NANDX	The two indexes. RAMX follows a memory-module (DRAM) price benchmark. NANDX follows a NAND flash price benchmark. Both settle in USDC.
Index	An index’s benchmark level, starting each month at 100. It is not the dollar price of a part.
Market	One index and one expiry, such as RAMX Oct 26, with one book and one price line.
Expiry	When a market stops trading: 00:00 UTC on the first day of the month after the month in its name. Settlement follows once the oracle’s final index is published.
Capped future	A long or a short on a range of the index, paid for in full when it opens. It has no margin call and no liquidation. See Capped futures.
Range	The part of the index a position covers, from a low end to a high end on whole index points.
Long	A position that collects the points the index settles above its range’s low end, up to its high end.
Short	A position that collects the points the index settles below its range’s high end, down to its low end.
Lot	The unit of size. A lot pays $0.01 per index point inside its range (each market’s lotUsdPerPoint).
Entry	The price a position opens at, on the market’s price line, between its range’s ends.
Per point	What a position gains for each index point inside its range: its lots times $0.01.
You pay	What goes in when a position opens: a long’s cost, or a short’s share of the range’s value. It is the most the position can lose.
Leverage	Entry divided by the distance from the entry to the range’s losing end. Higher leverage puts that end closer to the entry.
Up to, Down to	Where a long’s (up to) or a short’s (down to) range ends on the winning side.
Suggested range	The ticket’s default range: about two standard deviations either side of the index of where the maker’s prices imply it will settle. It is for display and never sets a price.
Complete set	A long and a short on the same range. Together they pay the range’s width, and the market holds that cash behind them.
Package	The set of trades an order fills in, balanced so that every point of the market is covered by as many long lots as short lots.
Price line	The trades whose range contains the index. The market’s price and chart follow it.
Mark	The market’s last price on the price line, or the index before the first trade.
Treasury maker	Amoeba’s market maker. It quotes a bid and an offer on every one-point step of each market, with the Earn vault’s cash.
Order Book	The market’s bids and offers by price. It is the same whatever the ticket shows.
Price Map	The order book’s cumulative bids and offers as a chart.
Max slippage	How much worse than the quote a market order may fill. 2% by default.
Limit entry	The entry of a limit order. What does not fill at once rests on the book.
Resting order	A limit order waiting on the book. It holds the cash it would put in at its own entry.
Exit	Closing a position: selling a long, or buying back a short, on the same range at the best price on the book.
Escrow	The cash a resting order holds. Cancel releases it.
Free cash	Your cash in a market that no order holds, shown as Free. Payouts and released escrow land here. Withdraw moves it to your wallet.

Your account

Term	Meaning
Ledger	Your ledger on the trade page and under Account, with the tabs Portfolio, Orders, Activity and Claims.
Portfolio	Your positions, each with Exit.
Orders	Your working orders, each with Cancel, and your free cash in each market, with Withdraw.
Activity	Your recent transactions.
P&L at index	A position’s result if it settled at the current oracle index. What closing pays now is shown in the close ticket.
Sign-in	Google (through Magic), Phantom, Solflare or Backpack.

Earn

Term	Meaning
Earn	The page for depositing USDC into the Earn vault behind the treasury maker. See Earn.
Earn vault	One vault for every market: depositors provide its cash, and its operator quotes with it in each market it funds.
Piece	A one-point range [x, x + 1), the unit the treasury maker buys and sells.
Your Deposit	What withdrawing all your Earn shares pays now: your part of the vault at its lowest value.
Total Deposited	The whole Earn vault’s value at its lowest: its cash plus what its held pieces pay at the worst settlement.
Your Pool Share	Your shares as a part of all the Earn vault’s shares.
Your Earnings	Your Deposit less your deposits plus your withdrawals. It can be negative.
Shares	Your part of the Earn vault. Deposits buy them at the vault’s highest value; withdrawals pay at its lowest.
Lowest and highest value	What the vault’s cash and positions are worth at the worst and the best settlement outcome. They differ by the range of its open positions.
Operator	The account that quotes for the Earn vault. It can trade for the vault and move its cash between markets, but never withdraw it.

Oracle and settlement

Term	Meaning
Amoeba Oracle	The system that forms each month’s source list and computes the final index.
SKU	One exact product identity in a market’s governed manifest. RAMX lists 52 and NANDX lists 48.
Bucket	A group of SKUs with a fixed weight in the index. Every eligible source in a bucket counts equally.
Source	A public price page admitted for a bucket. Its movement is measured from its opening value.
Scramble, Challenge, Freeze, Opening, Game Mode	The stages of an oracle month: propose sources, dispute them, lock the recipe, record each source’s opening value, then keep source values current. See How the oracle works.
Opening value	A source’s accepted starting value. All of its later movement is measured against it.
Bond, stake	USDC posted with an oracle action, such as Proposed stake or Challenge bond. It can be lost if the action fails.
Oracle council	The five governance council seats acting on emergency oracle cases. Three matching public ballots decide.
Oracle period	The on-chain record of one index and expiry that a market settles on: Forming, Live, Settled or Failed.
Final index	The index value a market settles on. It comes from each source’s median over the last five weekdays before expiry and the median across sources in each bucket. It is published no earlier than 24 hours after expiry. See the Math appendix.
Reference value	The index value a market is listed at. It never settles a market: if the oracle period is not settled after expiry, the governance council can set the settlement value any time after expiry.
Keeper	Amoeba’s service that settles markets after the oracle settles, paying positions into their owners’ free cash.
Oracle reference index	The index as the oracle currently measures it. It is not final until settlement.
Last known	A value kept from an earlier read and shown with its original time while a refresh fails. It never enables a trade.

Technical terms

Term	Meaning
Atom	The smallest unit of an amount. USDC uses 6 decimal places.
Grid	A market’s price scale in whole steps: 0 to 200 index points on Amoeba’s markets.
k	Atoms one lot of a one-point range pays in full: 10,000 ($0.01) on Amoeba’s markets.
Claim	The program’s name for a position: a side, a range and a number of lots.
Futures program	The Solana program that holds every market’s cash and positions and enforces every rule.
Futures API	Amoeba’s service that quotes orders, prepares and submits transactions, and serves market, account and oracle data.
Sponsor	The key that pays the network fee of transactions the futures API prepares.
Governance council	Five equal seats that approve program upgrades and gate changes. Typical actions need three approvals.
Governance gate	An account every futures instruction must pass with its current epoch. While the gate is frozen, the program rejects instructions.
Solana mainnet	The public Solana network where the futures and oracle programs run and the markets settle in real USDC. See Deployment.