Shared Definitions
Common.tla contains reusable definitions across all mechanisms:
- Order tuple accessors:
OTrader,OPrice,OQty,OId,OTime - Trade tuple accessors:
TBuyer,TSeller,TPrice,TQty,TTime,TBuyLimit,TSellLimit - Sequence helpers:
RemoveAt,ReplaceAt - Arithmetic helpers:
Min,Max
Terminology
| Term | Definition |
|---|---|
| AMM | Automated Market Maker — a pool-based exchange where price is determined by a mathematical formula (e.g., constant-product x*y=k) rather than an order book |
| CLOB | Central Limit Order Book — a price-time priority matching engine where resting orders are matched against incoming orders |
| DEX | Decentralized Exchange — a non-custodial trading venue running on a blockchain or peer-to-peer protocol |
| HFT | High-Frequency Trading — automated trading at microsecond timescales, often exploiting latency advantages |
| IL | Impermanent Loss — the difference between the value of tokens held in an AMM LP position vs. simply holding them; disappears if the price ratio returns to the deposit ratio |
| LP | Liquidity Provider — a participant who deposits tokens into an AMM pool and earns fees in return, bearing IL risk |
| MEV | Maximal (formerly Miner) Extractable Value — value extracted by controlling transaction ordering, e.g., front-running or sandwich attacks |
| MPC | Multi-Party Computation — cryptographic protocol where multiple parties jointly compute a function without revealing their private inputs |
| ZK / ZKP | Zero-Knowledge Proof — a cryptographic proof that a statement is true without revealing why it is true (e.g., an order is valid without revealing the order) |