Reference
Glossary
- Bip
- One basis point: 0.01%. 100 bips is 1%.
- Fund
- The wallet and trading book that belongs to one coin.
- Mandate
- The one strategy a fund's agent may run. Fixed at launch.
- NAV
- Net asset value: what the fund is worth right now.
- High-water mark
- The highest NAV the fund has reached. It never goes down.
- Drawdown
- How far the fund is below its high-water mark, in bips.
- Cut line
- 3,000 bips of drawdown. The fund stops trading for good.
- Policy signer
- The part that checks every trade against the rules before signing.
- Coin's fee share
- The part of each trade's fee that belongs to the coin: its fund, plus the creator's cut.
- Graduation
- When the bonding curve fills and the coin moves to a normal Meteora pool, with its liquidity locked.
- Burn
- Buying tokens back and sending them where nobody can use them.
Bips is not live yet. This page describes the design and may change before launch.