> For the complete documentation index, see [llms.txt](https://docs.iridius.xyz/llms.txt). Markdown versions of documentation pages are available by appending `.md` to page URLs; this page is available as [Markdown](https://docs.iridius.xyz/introduction/glossary.md). # Glossary All the terms used across this documentation, defined together on one page. | Term | Definition | | ----------------------- | --------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | | **Anchor vault** | A per-asset contract that holds inventory in both the Stock Token and USDG and quotes both sides around the oracle mid. See [Anchor vaults](/protocol/anchor-vaults.md). | | **Attestation** | A record on the Ethereum Attestation Service that ties a wallet to a role (trader, LP, maker) once off-chain verification is complete. It holds no personal data. See [Eligibility registry](/architecture/eligibility.md). | | **Band** | The maximum distance from the oracle mid within which a fill must fall. A fill outside it causes the transaction to revert. | | **Clip** | The most a single swap is allowed to draw from a vault. Larger orders are routed to RFQ for a quote. | | **Data Feeds** | Chainlink's on-chain price service based on pushed updates; its 24/5 equity feeds supply Stock Token prices across the week. | | **Data Streams** | Chainlink's low-latency service based on pulled reports (v11 RWA schema). Each report carries a `marketStatus` field, and session classification reads from it. | | **ERC-8056 multiplier** | The value `uiMultiplier()` returns on a Stock Token, giving the underlying shares held per token. Dividends and splits are reflected by changing it, and Chainlink prices already factor it in. | | **Execution quality** | The signed distance, in basis points, between a fill and the oracle mid at the moment of inclusion. Published for every fill. See [Execution quality](/transparency/execution-quality.md). | | **Half-spread** | The gap between the mid and one side of the quote. Every Iridius parameter is expressed as a half-spread in basis points. | | **Inventory skew** | The amount by which a vault's holdings have drifted from its target mix. Quoting leans in response, so flow that brings the mix back gets the better price. | | **Maker** | An attested market maker that signs RFQ quotes off-chain, with its fills settling atomically on-chain. | | **Mid** | An asset's guarded oracle price, as reported by `OracleRouter`. Without a mid there is no quote. | | **Quote asset** | USDG, the unit every market is priced in and every fee is charged in. | | **Regime** | The state a market is in at any moment (`OPEN`, `EXTENDED`, `CLOSED` or `HALTED`), which determines its spread multiplier and clip. See [Trading regimes](/protocol/trading-regimes.md). | | **RFQ** | Request for quote: maker-signed EIP-712 messages that remain valid for a few seconds and are settled atomically by the taker. See [RFQ settlement](/protocol/rfq.md). | | **Router** | `SwapRouter`, the one entry point: it checks eligibility, compares the vault price with the RFQ price, and settles whichever is better. | | **Session** | The oracle-reported state of the underlying market: regular hours, extended hours or closed. Regimes are built on top of it. | | **Stock Token** | An equity tokenized by Robinhood Assets (Jersey) Ltd, structured as an ERC-20 debt security backed 1:1 by shares held in US custody. See [Stock Tokens](/assets/stock-tokens.md). | | **Tier** | The listing class (A, B or C) assigned to an asset, which sets its base spread, clip, band and caps. See [Listing framework](/assets/listing-framework.md). | | **USDG** | Paxos Global Dollar, a stablecoin regulated under MiCA and issued natively on Robinhood Chain. See [Quote asset: USDG](/assets/usdg.md). | | **Vault share** | The ERC-4626-style token an LP receives on deposit, representing a pro rata claim on the vault's inventory and on the spread it has accrued. | --- # Agent Instructions This documentation is published with GitBook. GitBook is the documentation platform designed so that both humans and AI agents can read, navigate, and reason over technical content effectively. Learn more at gitbook.com. ## Querying This Documentation If you need additional information that is not directly available in this page, you can query the documentation dynamically by asking a question. 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