Reference
Glossary
The words XIO uses, defined once.
Where a term is Hyperliquid’s, we use it the way Hyperliquid does.
- Vault
- Your wallet. Deposits land here, withdrawals leave from here, and only you can initiate them.
- Operator
- The agent's wallet. Has a budget you set, can trade, cannot withdraw.
- Lloyd
- The agent. Reads markets, proposes trades, explains itself. Never signs.
- Trading Plan
- Your rules, written in English and compiled into a typed spec the system enforces.
- Harness
- The layers around the agent that make your rules binding: the plan engine, the wallet policy, the venue rules, and the journal.
- Journal
- The append-only record of everything seen, decided and done. Balances and positions derive from it.
- Supervised, guided, autonomous
- How much Lloyd may do without asking. Supervised is the default and proposes everything.
- Signer
- A key registered with the exchange that may place orders. One writer per signer, always.
Trading
Section titled “Trading”- Perp
- A futures contract with no expiry, held to the spot price by funding payments.
- Leverage
- Position size relative to your collateral. 10x means a 1% move changes your position value by 10% of your margin.
- Margin
- The collateral backing a position. Initial margin opens it; maintenance margin keeps it open.
- Liquidation
- The exchange closing your position because margin fell below maintenance. Automatic, and not something XIO can prevent.
- Funding rate
- The periodic payment between longs and shorts. A holding cost on one side, income on the other.
- Long, short
- A position that profits from the price rising, or from it falling.
- Slippage
- The gap between the price you expected and the price you got.
- Order book depth
- How much size rests near the current price. Thin books mean worse fills.
- Mark price
- The reference price used for margin and liquidation, which is not always the last traded price.
- Builder code
- The identifier that attributes exchange volume to the interface that routed it.