| Active state | Latest state known to the sequencer |
| Committed state | State covered by an on-chain checkpoint root |
| Canonical state | Authoritative execution and ledger state used for settlement |
| Read projection | Query-optimized view used by APIs, dashboards, and the web application |
| Fill | Result of a matched order |
| Maker | Trader whose resting order provides liquidity |
| Taker | Trader whose order removes liquidity from the book |
| Slippage | Difference between expected execution price and actual execution price |
| Mempool | Queue of accepted signed actions before sequencing |
| Sequencer | Off-chain system that orders actions and drives matching |
| Publisher | Authorized signer for state checkpoints |
| Quorum | Minimum number of publisher signatures required for a valid checkpoint |
| State root | Merkle root representing committed account or protocol state |
| Withdrawal root | Merkle root representing withdrawal claims |
| Withdrawal proof | Merkle proof used to execute a withdrawal claim against a published root |
| Vault | Contract that holds supported collateral |
| Post-only | Order that must rest as maker liquidity or reject |
| IOC | Immediate-or-cancel order |
| FOK | Fill-or-kill order |
| Stop-loss | Conditional order triggered when price moves against a position |
| Take-profit | Conditional order triggered when price reaches a favorable level |
| OCO | One-cancels-other order pair |
| Iceberg | Algorithmic order with only a visible slice on the book |
| TWAP | Time-weighted average price execution strategy |
| VWAP | Volume-weighted average price execution strategy |
| TGE | Token generation event |
| FDV | Fully diluted valuation |
| TVL | Total value locked |