Glossary

Short definitions of the terms used across these docs, grouped by domain. Each concept with a canonical page links to it.

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AMM concepts

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AMM

An Automated Market Maker: a decentralized exchange design that prices a token pair with a mathematical formula and fills trades from liquidity pools instead of matching buyers and sellers in an order book.

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APR

Annual Percentage Rate: the annualized rate of return on a position. On SaucerSwap, fees APR is the return from trading fees, and reward APR is the return from the yield farm or LARI.

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Arbitrage

Buying and selling the same asset across venues to profit from price differences. Arbitrage keeps pool prices aligned with the wider market.

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Concentrated liquidity

A SaucerSwap V2 feature that lets liquidity providers deploy capital within specific price ranges instead of across the whole price curve, increasing capital efficiency.

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DEX

A decentralized exchange: a protocol for trading tokens without a central custodian. SaucerSwap is the leading DEX on Hedera.

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Impermanent loss

The loss a liquidity provider takes, relative to simply holding, when the price ratio of a pool’s pair diverges from the ratio at deposit time. It becomes permanent only if the position is withdrawn before prices revert. See the FAQ.

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Liquidity pool

A smart contract holding a pair of tokens that traders swap against. Liquidity providers fund the pool and earn a share of trading fees.

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Price impact

The change in a pool’s price caused by your own trade. Larger trades against thinner liquidity move the price more.

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Slippage

The difference between the quoted price of a trade and the price at execution, typically caused by market movement between quote and settlement. Slippage tolerance is the maximum difference you allow before the transaction reverts.

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Stablecoin

A token designed to hold a stable value, usually pegged to a fiat currency. USDC is issued natively on Hedera as an HTS token.

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TVL

Total value locked: the total value of assets deposited in a protocol’s contracts, commonly used to compare DeFi protocols.

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Yield farming

Earning additional rewards by staking V1 LP tokens in the Masterchef contract, paid in SAUCE and HBAR. See SaucerSwap V1.

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Hedera terms

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EVM

The Ethereum Virtual Machine, the runtime for smart contracts. Hedera is EVM-compatible, so Solidity contracts and EVM addresses (0x...) work on Hedera, and every HTS token also has an EVM address.

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Gas

The cost of executing a transaction on the network. Hedera fees are low and denominated in U.S. dollars, paid in HBAR.

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HBAR

Hedera’s native cryptocurrency, used to pay network fees and for staking. See Get HBAR.

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HBARX

An HBAR liquid staking token issued by Stader Labs.

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HCS

The Hedera Consensus Service, a Hedera service for ordered, timestamped message consensus. SaucerSwap V3’s infrastructure uses HCS references where applicable; see the V3 order book risk notice.

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HashScan

A public Hedera network explorer at hashscan.io, serving the same role Etherscan does for Ethereum. Use it to verify accounts, tokens, and the SaucerSwap contracts.

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HTS

The Hedera Token Service, the native Hedera service for creating and managing tokens. SaucerSwap trades HTS tokens.

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Mirror Node

A Hedera node type that stores and serves historical network data over a public REST API. SaucerSwap’s APIs and clients use Mirror Nodes to resolve accounts and verify on-chain state.

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Tinybar

The smallest denomination of HBAR; 1 HBAR = 100,000,000 tinybar. The SaucerSwap REST API prices HBAR-denominated values in tinybar.

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Token allowance

An approval that lets a contract spend a specific amount of your tokens on your behalf. SaucerSwap requires allowances to execute swaps and liquidity operations; see Troubleshooting.

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Token association

Linking an HTS token to a Hedera account. An account must associate a token before it can send, receive, or hold it — the most common cause of failed first-time swaps. See Troubleshooting.

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SaucerSwap products

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Infinity Pool

SaucerSwap’s single-sided SAUCE staking pool. Deposit SAUCE, receive xSAUCE, and earn as the xSAUCE-to-SAUCE rate rises. See Single-sided staking.

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LARI

The Liquidity-Aligned Reward Initiative: V2’s incentive system, which distributes rewards to liquidity providers automatically each two-week epoch based on position size and efficacy, with no staking step. See SaucerSwap V2.

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Larry

The official alien mascot of SaucerSwap.

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Masterchef

The V1 smart contract that handles LP token staking and mints SAUCE emissions for the yield farm. See SaucerSwap V1.

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SAUCE

The native token of the SaucerSwap protocol, used for governance voting power, liquidity incentives, and staking. See Tokenomics.

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SaucerSwap DAO

The decentralized autonomous organization that governs the protocol; SAUCE confers voting power. See Governance.

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SaucerSwap Labs

The company that develops the open-source SaucerSwap protocol and maintains the web app. See the team.

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SaucerSwap V1

The original constant-product AMM, a modified fork of Uniswap V2, with the yield farm. See SaucerSwap V1.

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SaucerSwap V2

The concentrated-liquidity AMM with multiple fee tiers and LARI incentives, based on Uniswap V3 contracts. See SaucerSwap V2.

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SaucerSwap V3

The on-chain central limit order book with off-chain matching and on-chain settlement, live on mainnet since June 12, 2026. See SaucerSwap V3.

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WHBAR

Wrapped HBAR: an HTS token representation of HBAR that lets smart contracts handle HBAR like any other token. It is designed for use by SaucerSwap’s contracts rather than directly by end users; see the WHBAR developer docs.

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xSAUCE

The liquid receipt token of the Infinity Pool. Its redemption rate against SAUCE increases as staking yield accrues, and it confers fee discounts on the V3 order book. See Single-sided staking and V3 fees.

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API and order book terms

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API key

The x-api-key credential used by the legacy SaucerSwap REST API. See API authentication.

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Depth

The standing quantity of orders at each price level of an order book. The Orderbook API serves depth snapshots over REST and live depth diffs over WebSockets; see Market data.

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EIP-712

The Ethereum typed structured data signing standard. V3 orders are signed as EIP-712 payloads against an environment-specific domain; see Orders and signing.

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JWT

A JSON Web Token: the short-lived credential the Orderbook API issues after a wallet challenge, attached to protected calls as Authorization: Bearer <token>. See Orderbook API authentication.

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Limit order

An order to trade at a specified price or better. It rests on the book until filled, canceled, or expired. See Trade on the order book.

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Maker and taker

A maker places an order that rests on the book, adding liquidity; a taker fills a resting order, removing it. V3 fee rates are quoted per side; see V3 fees.

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Market order

An order that fills immediately at the best available prices in the book.

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OCO

One-cancels-the-other: a pair of linked limit orders where a fill on one cancels the other. Supported by POST /orders/save as server-side metadata; see Orders and signing.

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Order book

A list of resting buy and sell orders at each price level, matched by price-time priority. SaucerSwap V3 runs one per market; see SaucerSwap V3.

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Pips

The fee unit of the V3 order book: 1 pip = 1e-6 = 0.0001%. V3 fee fields such as takerFeePips and makerFeePips are expressed in pips, not basis points.

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Reactor

The V3 on-chain settlement contract that verifies order signatures and settles matched trades. It is the verifyingContract of the EIP-712 domain and the on-chain source of truth for order state.

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Trade tape

The public record of recent fills in a market, served by GET /trades/:orderbookId. See Market data.

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WebSocket

A persistent two-way connection used for streaming. The Orderbook API streams depth diffs and account order events over WebSockets; see WebSockets.

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Next steps