# Glossary

| Term | Meaning |
| --- | --- |
| Base units | Integer token amounts before applying decimals |
| BPS | Basis points; 100 equals 1% |
| Classic | A launch directly into an exchange pool |
| Curve | A launch trading against curve reserves until its pool opens at the curve's target. The only launch type with a curve |
| FDV | Price multiplied by total token supply; not withdrawable liquidity |
| Graduation | A curve launch's pool opening at its target: the curve's reserved tokens and real paired assets move into its venue pool. Signal v4 and Classic launches start in their pool and never graduate or migrate |
| HYPE | Native asset used for HyperEVM gas |
| WHYPE | ERC20 wrapper for HYPE |
| Pairing asset / quote asset | Asset the launched token trades against |
| Payout asset | Asset actually distributed by a reward system |
| Minimum received | User-protected output floor for execution |
| Slippage | Permitted deterioration from the quoted output, as chosen by the user |
| Virtual reserve | Pricing state; not a pool of real withdrawable assets |
| Real paired principal | Actual pairing assets supporting the curve's trading and pool seed |
| Perp batch | A fee-funded investment lot with its own recorded terms |
| Units / slices | Ledger accounting for earned shares of the rewards position and its cash |
| Target exposure | Intended notional exposure relative to equity; actual exposure can differ |
| Keeper | A process that advances supported on-chain and venue work; timing is not guaranteed |
| Source verification | A reported match between published source and deployed code, not a security audit |
| Signal v4 | A launch whose token is born with its own Uniswap v4 pool, with the launch's rules held by Signal's hook |
| Hook | The contract a Uniswap v4 pool calls on every swap. Signal's hook charges the fee and enforces the launch's rules |
| Pool id | The 32-byte identifier of a Uniswap v4 pool. It is not a contract address |
| Opening fee | A fee that starts high at launch and falls in a straight line to the base fee. It applies to buys and sales |
| Opening budget | A limit on the share of supply all buyers together can take per block, for a time after launch |
| Whale cap | A limit on the share of supply one wallet can reach by buying, for a time after launch |
| Signal-only | A time after launch in which buys must come through Signal's router. Sales are never limited |
| Size fee, deviation fee | Optional extras: on a trade large against the pool, and on a trade that pushes the price away from its average |
| Split | How a token's fee is divided, after Signal's share: creator, holders, locked liquidity, buyback and burn |
| Flush | The transaction that divides the fees a pool has collected. Anyone can send it |
| Holders token | A Signal v4 token born to pay its holders in the asset it trades against |
| Living rule, module | A contract a launch names to set its base fee inside a band fixed at launch |
| Signal | A short signed note on a token, tied to the poster's own position. Also the product: launching and trading |
| Echo | What flows back. Your Echo compounds a holder's rewards into more of the token. Protocol Echo uses protocol fees to buy $SIGNAL |
| Helix | Paying for a coin on one chain with money on another |
| Instant trading | A Signal wallet setting: Buy and Sell send without a confirmation screen |
| Relief | $SIGNAL sent to wallets that sold at a loss on signal.family, funded by a tenth of Protocol Echo's buys |
| The Desk, Classic | The site's two desktop layouts |