> For the complete documentation index, see [llms.txt](https://docs.miragefi.org/llms.txt). Markdown versions of documentation pages are available by appending `.md` to page URLs; this page is available as [Markdown](https://docs.miragefi.org/introduction/glossary.md). # Glossary The terms used across this documentation, each defined once. | Term | Definition | | ----------------------- | --------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | | **Anchor vault** | A contract, one per asset, that holds Stock Token and USDG inventory and quotes both sides of the market 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. Contains no personal data. See [Eligibility registry](/architecture/eligibility.md). | | **Band** | The furthest distance from the oracle mid at which a fill may clear. Any quote that falls outside the band reverts. | | **Clip** | The largest size a single swap against a vault may have. Beyond the clip, the router quotes through RFQ. | | **Data Feeds** | The push-based on-chain price feeds from Chainlink; their 24/5 equity feeds price Stock Tokens throughout the week. | | **Data Streams** | The pull-based low-latency price service from Chainlink (v11 RWA schema). Its reports include a `marketStatus` field, which is used to classify the session. | | **ERC-8056 multiplier** | The `uiMultiplier()` value a Stock Token reports, giving underlying shares per token. Splits and dividends are expressed through it, and it is already reflected in Chainlink prices. | | **Execution quality** | The signed gap, in basis points, between a fill price and the oracle mid at inclusion. Published for each fill. See [Execution quality](/transparency/execution-quality.md). | | **Half-spread** | The gap between the mid and one side of a quote. MirageFi states its parameters as half-spreads in basis points. | | **Inventory skew** | The extent to which a vault's holdings have moved away from its target mix. Skew shifts quotes so as to attract flow that rebalances the vault. | | **Maker** | An attested market maker that signs RFQ quotes off-chain and settles them on-chain atomically. | | **Mid** | The current guarded oracle price for an asset, as supplied by `OracleRouter`. Every quote begins from it. | | **Quote asset** | USDG, the asset against which every market trades and in which every fee is denominated. | | **Regime** | The state a market occupies: `OPEN`, `EXTENDED`, `CLOSED` or `HALTED`. It sets spread multipliers and clip sizes. See [Trading regimes](/protocol/trading-regimes.md). | | **RFQ** | Request for quote. EIP-712 quotes signed by makers, valid for a matter of seconds, which the taker settles atomically. See [RFQ settlement](/protocol/rfq.md). | | **Router** | The single point of entry (`SwapRouter`); it checks eligibility, compares the vault price with the RFQ price and settles whichever is better. | | **Session** | The state of the underlying market (regular, extended hours, closed) as the oracle reports it. Sessions are what regimes are derived from. | | **Stock Token** | A tokenized equity from Robinhood Assets (Jersey) Ltd: 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 of an asset (A, B or C). It determines the asset's base spread, clip, band and caps. See [Listing framework](/assets/listing-framework.md). | | **USDG** | The Paxos Global Dollar, a stablecoin regulated under MiCA and native to Robinhood Chain. See [Quote asset: USDG](/assets/usdg.md). | | **Vault share** | The ERC-4626-style token issued to an LP on deposit. It represents a pro-rata claim on the vault's inventory and the spread revenue 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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