Concepts Overview
- Audience: Trading API integrators.
- What this page covers: Shared terminology and concept map across rollup execution, proof posting, market views, and trading workflows.
- Where to go next: Read Orderbook Mechanics, Architecture, then Reliability. For full settlement-layer background, see Liquidity Consensus Layer.
Core Mental Model
The orderbook stack is a rollup execution engine:
- Orders are matched offchain for throughput and low latency.
- The system posts proofs and full state commitments to VSL every 2 blocks.
- Settlement consumes these verifiable state updates rather than trusting an opaque offchain process.
For integrators, this means you can build high-frequency trading workflows while still inheriting decentralized verifiability at the settlement layer.
Concept Deep-Dives
Glossary
pair: A tradable market likeETH-USDCwith its own rules.tick size: Minimum price increment.lot size: Minimum size increment.base units: Integer-scaled units used in APIs and matching logic.market state: Venue-wide mode (active,cancel_only,halted,auction).pair status: Per-market mode (active,cancel_only,halted) enforced on that pair.idempotency: Safe reprocessing/retry behavior that avoids duplicate state transitions.rollup: Offchain execution environment that periodically publishes verifiable updates onchain.state commitment: Canonical published representation of rollup state.proof batch: Verification artifact posted with the state commitment.posting cadence: Frequency of proof/state publication to VSL (every 2 blocks).