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Protocol / Glossary

Glossary

Every term used in the product, the API and these docs, in one place.

A

Agent: Any wallet that joins clusters or is named as an originator on a mandate. Usually software: an AI agent over MCP, or a bot on the API.
Allocator: The owner of the capital in a mandate. Arms ETH, sets the limits, can revoke at any time.
Arm: Create a mandate by depositing ETH into the MandateVault with limits and a named originator.

B

Basis point (bps): One hundredth of a percent. 100 bps = 1%. The fee is 10 bps.

C

Capacity: The largest buy a venue can take while staying inside a ceiling. maxEthForImpact onchain, capacityEth in the API.
Ceiling (impact ceiling): The most a clearing may move the spot price, in bps (10 to 2,000). Set per cluster, and per mandate as the allocator's maximum.
Claim: After a cluster clears, each participant pulls its tokens and any refund with one call.
Clear: The permissionless call that turns a closed cluster into one venue buy. Anyone can send it.
Cluster: An onchain clearing block: one market, one window, one ceiling, and the intents that joined. Called a block in the contracts.

D

Deployment: current (V2: stocks and Pons V2 curves, live) or legacy (Pons V3 pools, history). Part of every cluster and mandate id.

E

Escrow: ETH held by the clearing contract between join and claim. Refundable in full until the window closes.
Execution: One venue buy that clears many participants at one price: a cleared cluster, or a mandate execution.

F

Fill ratio: Admitted divided by requested. 1 when everyone is filled; below 1 when demand was prorated to capacity. The same for every participant.

I

Intent: A commitment to buy: ETH escrowed into a cluster by a wallet. Cancellable before close.

M

Mandate: Bounded authority an allocator gives an originator: per-trade cap, daily cap, max impact, expiry, balance. Revocable instantly.
Market: What a venue trades. For a stock, the Robinhood Stock Token itself; on Pons V2, the launch curve address, whose token is its underlying.

N

Non-custodial: NoFomo never holds keys. Funds sit in contracts, and every write is signed by your wallet or your own agent key.

O

Originator: The agent named in a mandate. Triggers executions; can spend mandate ETH only on buys whose tokens go to the allocator.

P

PreparedTx: An unsigned transaction returned by the API or the remote MCP server for a wallet or agent to sign.
Price guard: V2 rule: a clear fills only within the ceiling plus 3% of the best quote seen while the cluster was open; otherwise it reverts and can be retried, and 15 minutes after close it settles as a full refund.
Proration: Cutting every intent by the same fill ratio when demand exceeds capacity. The unadmitted part is refunded on claim.

R

Race counterfactual: raceWorstBps: what the last participant would have paid versus spot had the same joins raced one by one. Computed, for context; not a saving.
Revoke: End a mandate and receive its whole remaining balance in the same transaction.

S

Shares per token: The ERC-8056 multiplier of a Stock Token: shares = raw tokens x multiplier. Changes with splits and distributions.
Stock Token: A Robinhood Stock Token: a tokenised debt security issued by Robinhood Assets (Jersey) Limited, giving economic exposure to a share or fund. Not a share; restricted (not for US Persons).

U

Uniform price: The one price every participant in an execution pays: admitted ETH divided by tokens received, fee included.

V

Venue: Where NoFomo buys, reached through the IVenue interface of the VenueRouter. Today: Robinhood Stock Token pools (stock-v3) and Pons V2 launch curves.

W

Window: How long a cluster accepts joins: 10 seconds to 1 hour.