Glossary
An offer on Mangrove that is undercollateralized.
Base / Quote
Base token is the traded asset, quoted in Quote token.
A portion of an offer provision that is sent to the taker to compensate a failure to deliver.
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.
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.
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.
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