DocsReference
Glossary
The words Polydict and the venues use, defined once. Each links to where it matters.
Markets and orders
- A unit of one outcome. It pays $1 if that outcome turns out right and $0 if not.
- Outcome
- One possible answer to a market’s question: Yes or No, a team, Up or Down.
- Price
- What a share costs, in cents. It reads as the market’s estimate of the probability. Prices are probabilities.
- Ask and bid
- The ask is the lowest price anyone will sell at; the bid is the highest anyone will buy at. A buy button shows the ask.
- Midpoint (mid)
- Halfway between the bid and the ask. A button shows it, labelled mid, only when there is no live book.
- Order book
- The resting orders on a market, at each price. Depth is how much is offered there.
- Maker and taker
- A maker’s order rests on the book; a taker’s order fills against one that is resting. Polymarket’s fee is charged to takers.
- Market (FAK)
- Fill and kill: fills what it can now at the quoted price and cancels the rest.
- Limit (GTC, GTD)
- An order that rests at your price: good till cancelled, or good till a date you choose.
- Fill or kill (FOK)
- Fills the whole order now, or none of it.
- Maker only
- A limit option: the order only ever rests, and Polymarket rejects it rather than letting it fill at once.
- Resolution
- How a market’s answer is decided — on Polymarket, through UMA’s Optimistic Oracle. How markets resolve.
- Collect
- Redeeming winning shares into your balance, from Portfolio. Gasless, and never automatic.
- Polydict fee
- Polydict’s fee on the orders it sends, shown on its own line in the ticket. Fees.
Money and wallets
- pUSD
- Polymarket’s dollar token on Polygon, a 1:1 wrapper of USDC, and the only token Polymarket trades in.
- USDC.e
- An older bridged USDC on Polygon. If you hold some, the app offers to convert it to pUSD, free.
- Polygon
- The blockchain Polymarket settles on. Its records are public and permanent.
- Signing wallet
- The embedded wallet Privy creates for your account (an EOA). It signs your trades and controls your trading wallet. More.
- Trading wallet
- Where your trading balance and positions sit: a deposit wallet on newer accounts, a Safe on some older ones.
- Deposit wallet
- Polymarket’s wallet type for new accounts, controlled by your signing wallet.
- Safe
- The smart-contract wallet older accounts trade from. Polydict never creates a new one; Upgrade moves a Safe account to a deposit wallet.
- Relayer
- Polymarket’s service that submits a transaction you signed and pays its gas, so the action is gasless for you.
- Privy
- The wallet provider that handles sign-in and holds your embedded wallet’s keys. Polydict never receives them.
- Trading key (session key)
- A key that can place and cancel orders and cannot withdraw, for automated strategies. In a closed test. More.
- Bridge
- A service that moves value between blockchains. Deposits from other chains arrive as pUSD through one.
Combos and Up or Down
- Combo
- Several outcomes in one ticket at one quoted price. It pays only if every leg wins. Combos.
- Leg
- One outcome inside a Combo.
- RFQ
- Request for quote: asking Polymarket’s market makers for a price on a Combo.
- Correlation
- How much outcomes tend to happen together. It is why a Combo’s quote differs from its legs multiplied.
- Up or Down window
- A short market on whether an asset’s price ends at or above where it started. Up or Down.
- Price to beat
- A window’s opening price, as Polymarket sets it. Closing at or above it resolves Up.
- Settlement source
- The price feed a window names for its result, such as Chainlink or Binance.
- 60-second average
- Chainlink’s average price over the last 60 seconds of a window: what settled 5-minute, 15-minute and 4-hour windows when last checked.
- Tuner
- The terminal’s gauge of distance from the price to beat, in typical moves for the time left. Arithmetic, not a forecast.
- Sequencer
- The terminal’s row of past, current and upcoming windows.
Perps
- Perp
- A perpetual future: a contract that tracks an asset’s price with no expiry, long or short. Perps.
- Leverage
- Trading a position larger than your margin. It multiplies gains and losses alike.
- Margin (cross, isolated)
- The money backing a position. Cross shares your account’s balance across positions; isolated keeps each position’s margin separate.
- Notional
- A position’s full size in dollars: margin times leverage.
- Mark price
- The venue’s reference price for a perp, used for profit and loss and liquidation.
- Liquidation
- When losses use up a position’s margin and the venue closes it. The ticket estimates the price; the venue’s own figure counts.
- Breakeven
- The price at which a position covers its round-trip trading fee, funding not included.
- TP / SL
- Take-profit and stop-loss: trigger orders at the venue that close a position at a price you set.
- Funding
- Regular payments between longs and shorts that keep a perp’s price near the asset’s.
- HIP-3
- Third-party exchanges on Hyperliquid, where its stocks, commodities, indices and FX trade.
- Odds rail
- The card beside a perps chart showing Polymarket’s own market on where that asset will be, level by level.