Glossary
Key terms used throughout Helm documentation.
| Term | Definition |
|---|---|
| AMM | Automated Market Maker — a decentralized exchange mechanism that uses algorithms to price assets instead of an order book |
| ADL | Auto-Deleveraging — a mechanism on HyperCore that automatically reduces positions in extreme market conditions |
| BBO | Best Bid and Offer — the highest buy price and lowest sell price on an order book |
| CoreWriter | Hyperliquid's system for EVM smart contracts to submit orders to Core within the same transaction |
| Delta | The sensitivity of a position's value to changes in the underlying asset's price |
| Delta-1 | A position with 1:1 exposure to the underlying asset price |
| Delta-neutral | A position with zero net exposure to the underlying asset price |
| FIFO | First In, First Out — a queue ordering where the earliest request is processed first |
| LP Token | Helm liquidity provider token — represents your share of a liquidity pool |
| HyperCore | Hyperliquid's high-performance exchange layer with order books, perpetuals, and spot trading |
| HyperEVM | Hyperliquid's EVM-compatible execution environment where Helm smart contracts run |
| IL | Impermanent Loss — value lost by AMM LPs due to price divergence between deposited tokens |
| LP | Liquidity Provider — a user who deposits tokens into a pool to facilitate trading |
| Mark Price | A fair-value price calculated by the exchange, used for margin and liquidation calculations |
| Pyth | Pyth Network — a cross-chain oracle providing real-time price data |
| Sovereign Pool | Valantis protocol's customizable liquidity pool primitive used by Helm |
| Valantis | The underlying DEX protocol that provides Helm's sovereign pool infrastructure |
| WHYPE | Wrapped HYPE — an ERC-20 representation of native HYPE tokens |