# Glossary

## Glossary

#### [Amplified Liquidity](https://old.docs.mangrove.exchange/developers/terms/amplified-liquidity)[​](https://old.docs.mangrove.exchange/developers/glossary#amplified-liquidity) <a href="#amplified-liquidity" id="amplified-liquidity"></a>

An offer on Mangrove that is undercollateralized.

#### [Base / Quote](https://old.docs.mangrove.exchange/developers/terms/base-quote)[​](https://old.docs.mangrove.exchange/developers/glossary#base--quote) <a href="#base--quote" id="base--quote"></a>

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

#### [Bounty](https://old.docs.mangrove.exchange/developers/terms/bounty)[​](https://old.docs.mangrove.exchange/developers/glossary#bounty) <a href="#bounty" id="bounty"></a>

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

#### [Cleaning Bot](https://old.docs.mangrove.exchange/developers/terms/cleaning-bot)[​](https://old.docs.mangrove.exchange/developers/glossary#cleaning-bot) <a href="#cleaning-bot" id="cleaning-bot"></a>

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

#### [Density](https://old.docs.mangrove.exchange/developers/terms/density)[​](https://old.docs.mangrove.exchange/developers/glossary#density) <a href="#density" id="density"></a>

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

#### [Dual offer](https://old.docs.mangrove.exchange/developers/terms/dual-offer)[​](https://old.docs.mangrove.exchange/developers/glossary#dual-offer) <a href="#dual-offer" id="dual-offer"></a>

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

#### [gasLimit](https://old.docs.mangrove.exchange/developers/terms/gasLimit)[​](https://old.docs.mangrove.exchange/developers/glossary#gaslimit) <a href="#gaslimit" id="gaslimit"></a>

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

#### [gasprice](https://old.docs.mangrove.exchange/developers/terms/gasprice)[​](https://old.docs.mangrove.exchange/developers/glossary#gasprice) <a href="#gasprice" id="gasprice"></a>

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

#### [gasreq](https://old.docs.mangrove.exchange/developers/terms/gasreq)[​](https://old.docs.mangrove.exchange/developers/glossary#gasreq) <a href="#gasreq" id="gasreq"></a>

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

#### [Gives](https://old.docs.mangrove.exchange/developers/terms/gives)[​](https://old.docs.mangrove.exchange/developers/glossary#gives) <a href="#gives" id="gives"></a>

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

#### [Hook](https://old.docs.mangrove.exchange/developers/terms/hook)[​](https://old.docs.mangrove.exchange/developers/glossary#hook) <a href="#hook" id="hook"></a>

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

#### [Inbound](https://old.docs.mangrove.exchange/developers/terms/inbound)[​](https://old.docs.mangrove.exchange/developers/glossary#inbound) <a href="#inbound" id="inbound"></a>

The token type that an offer taker must send.

#### [Keeper Bot](https://old.docs.mangrove.exchange/developers/terms/keeper-bot)[​](https://old.docs.mangrove.exchange/developers/glossary#keeper-bot) <a href="#keeper-bot" id="keeper-bot"></a>

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

#### [Last Look](https://old.docs.mangrove.exchange/developers/terms/last-look)[​](https://old.docs.mangrove.exchange/developers/glossary#last-look) <a href="#last-look" id="last-look"></a>

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

#### [Maker Contract](https://old.docs.mangrove.exchange/developers/terms/maker-contract)[​](https://old.docs.mangrove.exchange/developers/glossary#maker-contract) <a href="#maker-contract" id="maker-contract"></a>

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

#### [Maker Partial Fill](https://old.docs.mangrove.exchange/developers/terms/maker-partial-fill)[​](https://old.docs.mangrove.exchange/developers/glossary#maker-partial-fill) <a href="#maker-partial-fill" id="maker-partial-fill"></a>

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

#### [makerExecute](https://old.docs.mangrove.exchange/developers/terms/makerExecute)[​](https://old.docs.mangrove.exchange/developers/glossary#makerexecute) <a href="#makerexecute" id="makerexecute"></a>

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

#### [makerPosthook](https://old.docs.mangrove.exchange/developers/terms/makerPosthook)[​](https://old.docs.mangrove.exchange/developers/glossary#makerposthook) <a href="#makerposthook" id="makerposthook"></a>

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

#### [Offer ID](https://old.docs.mangrove.exchange/developers/terms/offer-id)[​](https://old.docs.mangrove.exchange/developers/glossary#offer-id) <a href="#offer-id" id="offer-id"></a>

The identifier of an offer in a given offer list.

#### [Offer List](https://old.docs.mangrove.exchange/developers/terms/offer-list)[​](https://old.docs.mangrove.exchange/developers/glossary#offer-list) <a href="#offer-list" id="offer-list"></a>

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

#### [Offer Logic](https://old.docs.mangrove.exchange/developers/terms/offer-logic)[​](https://old.docs.mangrove.exchange/developers/glossary#offer-logic) <a href="#offer-logic" id="offer-logic"></a>

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

#### [Offer Owner](https://old.docs.mangrove.exchange/developers/terms/offer-owner)[​](https://old.docs.mangrove.exchange/developers/glossary#offer-owner) <a href="#offer-owner" id="offer-owner"></a>

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

#### [On-the-fly Offer](https://old.docs.mangrove.exchange/developers/terms/on-the-fly-offer)[​](https://old.docs.mangrove.exchange/developers/glossary#on-the-fly-offer) <a href="#on-the-fly-offer" id="on-the-fly-offer"></a>

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

#### [Outbound](https://old.docs.mangrove.exchange/developers/terms/outbound)[​](https://old.docs.mangrove.exchange/developers/glossary#outbound) <a href="#outbound" id="outbound"></a>

The token type that an offer taker will receive.

#### [Price](https://old.docs.mangrove.exchange/developers/terms/price)[​](https://old.docs.mangrove.exchange/developers/glossary#price) <a href="#price" id="price"></a>

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

#### [Provision](https://old.docs.mangrove.exchange/developers/terms/provision)[​](https://old.docs.mangrove.exchange/developers/glossary#provision) <a href="#provision" id="provision"></a>

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

#### [Ratio](https://old.docs.mangrove.exchange/developers/terms/ratio)[​](https://old.docs.mangrove.exchange/developers/glossary#ratio) <a href="#ratio" id="ratio"></a>

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

#### [Reactive Liquidity](https://old.docs.mangrove.exchange/developers/terms/reactive-liquidity)[​](https://old.docs.mangrove.exchange/developers/glossary#reactive-liquidity) <a href="#reactive-liquidity" id="reactive-liquidity"></a>

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](https://old.docs.mangrove.exchange/developers/terms/renege)[​](https://old.docs.mangrove.exchange/developers/glossary#renege) <a href="#renege" id="renege"></a>

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](https://old.docs.mangrove.exchange/developers/terms/reserve-id)[​](https://old.docs.mangrove.exchange/developers/glossary#reserve-identifier) <a href="#reserve-identifier" id="reserve-identifier"></a>

An immutable address identifying the fund owner when using a router

#### [Router](https://old.docs.mangrove.exchange/developers/terms/router)[​](https://old.docs.mangrove.exchange/developers/glossary#router) <a href="#router" id="router"></a>

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](https://old.docs.mangrove.exchange/developers/terms/smart-offer)[​](https://old.docs.mangrove.exchange/developers/glossary#smart-offer) <a href="#smart-offer" id="smart-offer"></a>

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

#### [Taker Fee](https://old.docs.mangrove.exchange/developers/terms/taker-fee)[​](https://old.docs.mangrove.exchange/developers/glossary#taker-fee) <a href="#taker-fee" id="taker-fee"></a>

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

#### [Tick](https://old.docs.mangrove.exchange/developers/terms/tick)[​](https://old.docs.mangrove.exchange/developers/glossary#tick) <a href="#tick" id="tick"></a>

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

#### [tickSpacing](https://old.docs.mangrove.exchange/developers/terms/tickSpacing)[​](https://old.docs.mangrove.exchange/developers/glossary#tickspacing) <a href="#tickspacing" id="tickspacing"></a>

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

#### [Wants](https://old.docs.mangrove.exchange/developers/terms/wants)[​](https://old.docs.mangrove.exchange/developers/glossary#wants) <a href="#wants" id="wants"></a>

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

[<br>](https://old.docs.mangrove.exchange/developers/terms/amplified-liquidity)