A short glossary
The words used throughout the engine reference, in plain language.
- Adapter
- A contract between an engine and a per-token custody or yield source. It reports assets and capacity and accepts deposits/recalls. This is distinct from the PermissionsAdapter.
- Band / range
- A pair of price boundaries. The engine’s liquidity band defines where its LP position is active. The RWA hook’s appraisal band independently controls acceptable trading outcomes.
- Basis point (bps)
- One hundredth of a percent. 10,000 basis points equal 100%. Uniswap fee pips use a different scale: 1,000,000 pips equal 100%.
- Engine
- One market’s capital manager and share ledger, bound to one pool. It values assets, issues shares, manages liquidity and processes exits.
- Harvest
- Collect accrued LP fees into the engine’s token balances. It does not automatically pay holders or redeploy the fees.
- Hook
- A contract attached to a pool key, called by Uniswap’s PoolManager at selected operations. Mintware’s owned RWA hook checks permissions, appraisals and trading bands.
- In-kind withdrawal
- Delivery in the portfolio’s actual underlying tokens, rather than selling everything for one payout asset.
- Liquidity / LP
- Tokens committed to support trades. A liquidity provider (LP) owns a claim on those tokens and applicable trading fees.
- Mark
- A reference price used to value an asset in the quote token, with an observation timestamp. It is distinct from the pool’s current spot price.
- Net asset value: the marked value of the engine’s directly held tokens, adapter claims and LP token amounts. Uncollected LP fees are excluded until collection.
- PermissionsAdapter
- Uniswap’s wrapper that holds a permissioned underlying asset while PoolManager holds its virtual representation. Taking virtual units releases underlying.
- Pool key
- The currencies, fee, tick spacing and hook identifying a Uniswap v4 pool. The same currency pair can have different pools.
- Principal
- Context matters: contributed capital in ordinary usage; a represented actor in permission checks. The engine setting named principalCap actually gates marked NAV at particular operations.
- Quote asset
- The token used as the unit of account for market NAV. A quote-denominated value is not necessarily a dollar value.
- Raw units / WAD
- Raw units are token integers before applying decimals. WAD means a number scaled by 10^18; the mark is whole quote tokens per whole asset token at that scale.
- Recenter
- Atomically move existing LP liquidity into a same-width band near spot, within edge, cooldown and maximum-move limits.
- An 18-decimal proportional claim on one market portfolio. Owned RWA engine shares cannot be transferred between holders.
- Tick
- An integer index on Uniswap’s price grid; one tick changes the currency1/currency0 raw-unit price ratio by a factor of 1.0001. Tick spacing restricts usable LP boundaries.