Definitions

These words are used in the chapters without being re-explained every time. The first time a chapter needs one, it is defined again in a box.

TWAP. Time-weighted average price. Here it means an order cut into equal slices on a clock. Slice one trades at its time, slice two at the next, and so on. The average price is whatever those slices actually clear. It is not a promise of a better price. It is a way to avoid sending the whole size through a pool in one trade.

DCA. Dollar-cost averaging. The same idea as TWAP, said from the buyer’s side: a fixed amount, on a schedule, instead of one entry. On this site, Recurring is the version that needs the tab open. TWAP is the version that keeps going after you disconnect.

Slice. One part of a TWAP or a recurring order. If you sell 1 ETH in 4 slices, each slice sells 0.25 ETH.

Slippage. The gap you allow between the quote and the trade that lands. Set in basis points. If the pool would pay you less than the minimum, the transaction reverts and you keep the sell token.

Basis point. 1/100 of 1%. 100 basis points is 1%. 15 basis points is 0.15%. Written bps.

Route. The path a swap takes. One pool is a single hop. Two pools is a multi-hop, usually through ETH, WETH, or USDG. The app keeps the route with the best output after the protocol fee.

Hop. One pool in a route. The output of a hop is the input of the next hop.

Pool. A contract that holds two tokens and trades them. The pool fee stays in the pool. It is not the RocketSwap fee.

Price impact. How far your size moves the pool price. A small trade in a deep pool barely moves it. A large trade in a thin pool moves it a lot, and you receive less than the price you saw before you typed the amount.

Allowance. Permission for a contract to pull an ERC-20 from your wallet, up to an amount. approve(spender, amount) sets it. approve(spender, 0) revokes it. Native ETH does not use an allowance.

Keeper. A process that sends the fill transaction and pays its gas. On TWAP the fill is still permissionless: anyone may call execute during the window. The keeper is the default caller, not the only one.

Dutch auction. A price that starts high for the seller and falls over time, used by the gasless UniswapX order. A filler takes it when the price covers their cost.

Limit order. An order that should trade only at the price you signed, or better. On this site it is an Ophis order, not a book RocketSwap runs.

WETH. ERC-20 wrapped ETH. Same value as ETH, but a token contract, so a TWAP can transferFrom it. ETH itself cannot be pulled that way.

Burn. Destroy tokens. They leave supply. On a 🚀 sell, the 15 bps fee is burned in the swap. On other sells, the fee is not burned yet. It is held for a later 🚀 buyback and burn.

Buyback. Spend the collected fee to buy 🚀, then burn what was bought. That is the treasury path. It is not what happens inside a swap that sells 🚀. That swap burns the fee directly.

Treasury. The address that receives non-🚀 protocol fees. 0x004CD7Ef4b452865c59EcD93F5EDAbA8e6df0227.

minOut. The smallest buy amount a swap will accept. Under it, the call reverts.

minPartBuy. The same idea for one TWAP slice. The contract reverts Protection if the slice buys less.