Glossary

The object in your wallet that controls your Parchment account. Needed to deposit, withdraw and change account settings.

The price at which a position is liquidated. The app also calls it the liquidation price.

A market state with no new opens. Closes and liquidations still run.

Margin minus the open fee: what is locked in the position.

The first small part of a favorable move that pays nothing. See Fees.

An address your account lets trade for you, such as a one-click session key or the TP/SL trigger service.

$0.02 per open or close request. It pays the keeper's gas.

USDC in your account that is not held by an order or position. You trade and withdraw from it.

The pool that takes the other side of every trade. See House pool.

Parchment's service that fills orders, liquidates and runs session closes.

The USDC you put into a position, including the open fee.

Collateral times leverage.

The token minted on trading losses. See PARCHMENT token.

The share of a winning position's size that is paid, set when you open. See Markets.

Where winnings wait when the pool is short. See Payout queue.

Closing positions at a snapshot price when a market closes. See Markets.

A browser key registered as a delegate for one-click trading. It can trade but not withdraw.