Terms
Asset
Digital tokens used in Ramses. These include ERC-20 tokens for trading and ERC-721 NFTs that represent concentrated liquidity positions.
Automated Market Maker
An automated market maker is a smart-contract system that lets users trade against pooled liquidity according to its pricing rules. Eligible liquidity providers may receive the pool's configured fee share, emissions, or liquidity incentives; these rewards are not available on every pool or position.
Active Bin
The DLMM price bin where swaps currently occur. A swap moves to the next available bin after consuming the liquidity available at the active price.
Bin
A discrete price level in a DLMM pool. Each bin holds its own liquidity and LP shares. Learn more here.
Concentrated Liquidity
A liquidity provision mechanism where providers can specify custom price ranges for their assets. Learn more here.
Discretized Liquidity Market Maker / "DLMM"
An AMM design that organizes liquidity into fixed-price bins. LPs select a range of bins, while swaps move across the available bins as needed. Learn more here.
Core
Essential smart contracts for Ramses' functionality. Contracts that handle critical functions like swaps, liquidity management, and fee collection. View the core contracts here.
ERC20
Fungible token standard.
Factory
The smart contracts responsible for deploying new trading pairs and pools.
Gauge
A smart contract that distributes RAM emissions to eligible liquidity positions based on the pool's vote allocation and each position's qualifying liquidity.
Invariant
The constant k in the volatile x*y = k and stable x^3*y + x*y^3 = k formulas. Learn more here.
Liquidity
Assets in Ramses pools/pairs available for trading.
Liquidity Provider / "LP"
Users who supply assets to a pool. Liquidity providers assume price and smart-contract risk and may earn the pool's configured swap-fee share plus eligible emissions or liquidity incentives.
Pair
A smart contract created by Ramses' V2 factory that enables ERC20 trading. Learn more
Periphery
Smart contracts that interact with Ramses' core contracts to provide additional functionality. These include routers, position managers, and other utility contracts. View the periphery contracts here.
Pool
A smart contract created by Ramses' V3 factory that enables trading between two ERC20 tokens. A token pair can have multiple pools with different configured fee settings; the active fee may adjust dynamically with market conditions. Learn more here.
Position
A liquidity allocation in a pool. Concentrated liquidity positions are represented as NFTs, while DLMM positions consist of fungible shares in one or more bins. Learn about concentrated liquidity or DLMM positions.
Price Impact
The effect a trade has on an asset's price due to the size of the order relative to pool liquidity. Larger trades typically result in higher price impact.
Range
An interval between two ticks of any distance.
Range Order
Limit order approximation using single-asset liquidity provision. Learn more here.
r33 / hyperRAM
r33 is Ramses' liquid-staked xRAM product, called hyperRAM on HyperEVM. It automates voting and compounds rewards into its xRAM backing. Learn about r33 liquid staking and find deployment-specific token addresses in Contract Addresses.
Slippage
The difference between a quoted and executed amount. Slippage tolerance sets the maximum acceptable change before a transaction reverts.
Spot Price
The pool's current exchange rate before a trade, derived from its active price state.
Swap Curve (Uniswap v2 or Correlated)
The AMM formula that determines trade prices in pairs. Ramses uses two curves: volatile (x*y = k) for standard token pairs, and stable (x^3*y + x*y^3 = k) for correlated assets. Learn more here.
Swap Fees
Trading fees charged by a pool. By default, gauged pools direct 100% of swap fees to xRAM voters for that pool; ungauged pools retain 95% for liquidity providers and direct 5% to the protocol. Fee rates may vary algorithmically.
Tick
Discrete boundaries in price space.
Vote Incentive
Rewards offered to xRAM holders to incentivize voting on gauges. These incentives help direct emissions to desired liquidity pools.