Docs · Reference
Glossary
The nouns Holdfast uses, each in one sentence.
Terms
- Raise
- The pre-launch period where backers deposit SOL toward a min and max.
- Backer
- A wallet that deposited into a raise; it earns the backers' share of trade fees pro-rata to its deposit.
- Bundle
- The first buy on the curve, made with the raise at launch before any public trade.
- Vault
- The program-owned account per launch that holds the bundle tokens and the SOL reserve; it has no withdraw.
- Reserve
- The share of the raise kept as SOL in the vault for the agent to buy dips with.
- Curve
- The launch's constant-product market (x · y = k) with virtual SOL reserves; it never migrates.
- EMA
- Exponential moving average of price, updated at every trade over 30 minutes.
- Band
- The zone around the EMA (± 2%) inside which the vault agent holds.
- Vault average cost
- The SOL cost per token of what the vault holds; agent buys must fill at or below it.
- Window
- The period over which the agent's buy and sell budgets reset.
- Impact
- How far a trade moves the spot price, in percent.
- Terms
- The fee split and agent limits frozen into a launch at creation.
- Vault agent
- The rate-limited signer allowed to call agent_buy and agent_sell.