Terminology
| Term | Meaning |
|---|---|
| Dispatcher | The public contract address that delegates function selectors to installed protocol modules. |
| Pool | A pool-specific accounting context served by the Dispatcher. Pool-aware calls include a pool address. |
| Reserve asset | An asset held by a pool and available as a pay or receive leg in a Multiswap trade. A receipt token can itself serve as a reserve asset. |
| Receipt token | A token representing a claim on another ledger account. Receipt tokens generalize the ERC-4626 idea beyond a claim on a single vault. |
| Claim token | A receipt token representing a claim on a pool account. Every claim token is a receipt token, but not every receipt token is a claim token. |
Reserve (a) | The token quantity held in the reserve account for an asset. |
Scale (s) | The accounting value assigned to an asset. The local price in scale units is s / a. |
Target scale (s_t) | The scale implied by the target portfolio allocation. |
| Actual weight | scale / totalScale. |
| Target weight | targetScale / totalTargetScale. |
Value flow (Σ) | Signed scale-value entering or leaving one trade leg. Complete trades conserve the sum of value flow. |
Value change (ds) | The scale update absorbed by a trade leg. |
Stableness (n) | The exponent controlling how quickly price-impact curvature appears away from the target-restoring path. |
| Allocation | The fraction of receive-side value flow directed to one asset. Execution allocations use six decimals: 1_000_000 = 100%. |
| Effective Depth | Maximum executable trade size at a stated average price-impact threshold. |
| Surplus | Inventory accounted outside the reserve balance that may be consumed by settlement when available. |
| Intent | EIP-712 authorization allowing an executor to submit a payer-approved Multiswap trade. |
Receipt token describes what the token represents. Reserve asset describes how an asset is used inside a particular pool. The categories are therefore not mutually exclusive: a receipt token can be held and traded as a reserve asset.
Float values in the read and quote APIs are custom packed decimal values represented in the ABI as int256. Token amounts in settlement calls remain ordinary integer base units.