💾Glossary

Definition of terms used in documentation.

• Liquidity Providers ("LPs"). Users providing liquidity to the protocol as peer-to-pool market makers and acting as counterparties to traders' net PnL.

• Open Interest ("OI"). The total cumulative position size across traders allowed for a particular side (long/short) on a particular asset.

• Open Interest Imbalance ("OI Imbalance"). The difference between long and short OI.

• Open Interest Skew ("OI Skew"). OI skew can either be long (OI long>OI short) or short (OI long<OI short).

• Ostium Liquidity Provider token ("OLP token"). An LP's share in the LP Market Making Vault, which accrues rewards directly into the token value.

• Perpetuals ("Perps"). An onchain primitive enabling price exposure to an asset without underlying ownership thereof. Stated otherwise, a non-expiring future who's cost of holding is governed by a funding rate.

• Position Size. The total notional exposure of a trader's position: Collateral x Leverage.

• Profit and Loss ("PnL"). Total gains and losses incurred by the position over a specific period. A positive or negative PnL yield a profit or a loss, respectively.

• Real World Assets ("RWAs"). A catch-all term used by crypto natives to refer to the universe of tradable assets not native to the blockchain.

• Shared Liquidity Layer ("SLL"). The combined liquidity across both vault structures (buffer and vault) that serves to settle trader PnL and accrues trading fee rewards.