Glossary
Protocol terminology — short, precise definitions.
| Term | Meaning |
|---|---|
| Desk | A copy-trading vault bound to one leader; the unit of participation |
| Copy desk | Same as desk — emphasizes that it replicates leader activity |
| Leader | An opted-in address whose trades a desk follows |
| Follower / Depositor | A user who deposits USDG into a desk |
| DeskVault | The contract holding funds, shares, positions, and the withdrawal queue |
| DeskFactory | The contract that creates desks (owner-curated or bonded listing) |
| USDG | Robinhood Chain's USD settlement asset; 6 decimals; all accounting unit |
| Stock Token | Issuer-backed tokenized equity/ETF on Robinhood Chain; 18 decimals |
| Seat share | A depositor's proportional claim on a desk's NAV; internal accounting, 6-decimal precision |
| NAV | Net asset value: cash plus oracle-priced positions, minus liabilities |
| NAV/share | NAV divided by outstanding shares; the price of one seat share |
| High-water mark | Highest NAV/share ever recorded; performance fees apply only above it |
| Keeper | Off-chain service that observes leader fills and submits executeCopy |
| RiskModule | Pure on-chain evaluator: evaluate(input) → (decision, size, reason) |
| SwapAdapter | Execution bridge from vault to a swap router; no arbitrary calldata |
| ExactInputRouter02 | Immutable-fee wrapper over Uniswap SwapRouter02 exactInputSingle |
| FeeModule | Pure math for performance + AUM fees and their split |
| NavLib | Pure fixed-point NAV/share math; mirrored by the SDK |
| ChainlinkOracle | Feed registry (feedOf) with bad-price rejection |
| Drawdown halt | Automatic stop: copies rejected when NAV/share is ≥ threshold below HWM (default 20%) |
| Position limit | Max USDG value per single position (maxPosition) |
| Fill limit | Max USDG per single copy (maxFill) |
| Gross limit | Max total exposure across positions (maxGross) |
| Session sizing | Copy-size multiplier by market session: regular 100%, pre/after-hours 30%, closed 0% |
| Staleness | Max age of a fill/price before rejection (default 120 s) |
| AUM | Assets under management; basis for the 2%/yr fee |
| Performance fee | 10% of profits above the high-water mark |
| Withdrawal queue | FIFO queue for redemptions that exceed available cash; permissionless processing |
| Fill tape | The keeper's record of processed fills (keeper/data/fills.json) |
| Paper mode | Keeper mode that evaluates and records without any broadcast |
| Dry-run | Live mode without SEAT_SUBMIT_TX=1: full evaluation, calldata logged, no broadcast |
| Listing bond | $SEAT posted to list a desk permissionlessly (default 100,000); refundable |
| StakingPool | Phase 2 contract distributing the staker fee slice to $SEAT stakers |
| LpLocker | Phase 2 contract locking the SEAT/USDG LP NFT for ≥ 365 days |
| Phase 0 / 1 / 2 | Paper engine shipped / testnet cash vault live / TGE + staking code shipped, undeployed |
| 4663 / 46630 | Robinhood Chain mainnet / testnet chain IDs |