Glossary

Amplified Liquidity​

An offer on Mangrove 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 Mangrove.

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 Mangrove 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 Mangrove.

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 Mangrove prior to trade settlement.

makerPosthook​

The callback function of an offer logic that is called by Mangrove 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 Mangrove 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 Mangrove 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 Mangrove 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.