> For the complete documentation index, see [llms.txt](https://docs.arcadex.fi/llms.txt). Markdown versions of documentation pages are available by appending `.md` to page URLs; this page is available as [Markdown](https://docs.arcadex.fi/star-here/glossary.md).

# Glossary

**Amplified Liquidity​**

An offer on Arcadex that is undercollateralized.

**Base / Quote​**

Base token is the traded asset, quoted in Quote token.

**Bounty**

A portion of an offer provision that is sent to the taker to compensate a failure to deliver.

**Cleaning Bot​**

An off-chain bot that keeps the order books clean by sniping failing offers.

**Density​**

The ratio of tokens promised by an offer over the gas it requires to be executed.

**Dual offer​**

An offer that is posted as a consequence of previous offer being taken.

**gasLimit**

The maximum gas requirement the taker will tolerate for an offer.

**gasprice**

An estimate of the price of a gas unit in native token amount.

**gasreq**

An upper bound of the gas units that an offer requires when called by Arcadex.

**Gives**

The volume of tokens an offer promises in exchange of the full volume of required (or wanted) tokens.

**Hook**

Internal functions in the building blocks of the Strat Lib, which may be overridden to change the default behavior of an offer logic.

**Inbound​**

The token type that an offer taker must send.

**Keeper Bot​**

An off-chain bot that helps keep Arcadex functioning optimally.

**Last Look​**

Feature of an offer logic that verifies whether trade execution should be cancelled.

**Maker Contract​**

A maker contract is a smart contract that is bound to a smart offer posted on Arcadex.

**Maker Partial Fill​**

When an incoming order partially takes the volume given by an offer.

**makerExecute​**

Callback function of an offer logic that is called by Arcadex prior to trade settlement.

**makerPosthook​**

The callback function of an offer logic that is called by Arcadex immediately after trade settlement.

**Offer ID​**

The identifier of an offer in a given offer list.

**Offer List​**

A list of offers on the same token pair, ranked from best price to worst price.

**Offer Logic​**

The part of a maker contract that is executed as a consequence of a call by Arcadex when processing a market order.

**Offer Owner​**

An account that is allowed to post, update or retract a specific offer posted by a maker contract.

**On-the-fly Offer​**

An offer posted by an EOA, in contrast with a smart offer, which is posted by a smart contract.

**Outbound​**

The token type that an offer taker will receive.

**Price**

Amount of quote tokens per base token that an offer demands or a taker is willing to pay

**Provision**

An amount of native tokens that is attached to a live offer on Arcadex and that is used to compensate a fail-to-deliver.

**Ratio**

The ratio 'wants/gives' between the amount an offer 'gives' and the amount it 'wants'.

**Reactive Liquidity​**

Liquidity providers can post offers that are not fully provisioned. It is enough that their code brings the promised liquidity at match-time. In the meantime, it can be put to work.

**Renege​**

Makers can renege on the offer to trade by incorporating defensive code in the maker contract (e.g., because the market conditions changed).

**Reserve identifier​**

An immutable address identifying the fund owner when using a router

**Router**

A smart contract building block provided by the Strat Lib that is used by an offer logic to manage liquidity in a modular fashion.

**Smart Offer​**

An offer that is bound to a smart contract, as opposed to an on-the-fly offer.

**Taker Fee​**

A portion of the tokens promised to the taker that are sent to the Arcadex protocol's vault.

**Tick​**

A 'price point' corresponding to the ratio 1.0001^tick

**tickSpacing​**

Controls the granularity of available price points in an offer list.

**Wants​**

The volume of tokens an offer wants in exchange of the full volume of promised (or given) tokens.