Glossary

This glossary defines key terms used across the BasePerp documentation so readers share a common vocabulary.

• stablecoin (vault shares) — ERC-4626 share tokens representing an LP’s proportional claim on the unified counterparty vault (generic naming; not a pegged asset).

• Collateral Health Ratio (CHR) — CHR = Equity / MaintenanceRequirement; primary safety metric for positions.

• deviationGuard — Maximum allowed relative difference between independent oracle feeds at execution time; trades revert when breached.

• profitFeeRate — Percentage applied to realized profit on ZFC markets at close (no charge on losses).

• counterSkewCap — Per-trade/global ceilings that bound rebates/discounts when entering the under-represented OI side.

• liquidatorBounty — Percentage of recovered collateral awarded to liquidators on eligible liquidations.

• securitySlashCap — Maximum fraction of the staked Security Module that can be slashed during a defined shortfall event.

• Buffer Ratio — Live indicator of vault resilience to trader PnL shocks; drives temporary withdrawal-fee tiers/size caps.

• ZFC (Zero Fixed Commissions) — Fee regime with no fixed open/close or funding by default; only a win-based fee applies on profitable closes.

• Keeper Fee — Small dynamic fee compensating gas for order upkeep and liquidations.

• TIF (Time-in-Force) — Maximum lifetime for an order before it expires if not executed.

• OI (Open Interest) — Aggregate notional exposure (longs/shorts) outstanding in a given market.