Glossary

Agent. A scoped piece of automation that watches a signal and takes one defined action when a trigger fires, bounded by limits you set. See Agent overview.

Allowlist. The set of assets an agent is permitted to touch. Anything not on the list is off limits.

Cap (per-trade, daily). A maximum on the size of a single agent action, or on total activity over a day.

Crowding. How one-sided and how levered the positioning in a market has become. Higher crowding means a more fragile book. See Crowding.

Crowding index. A single per-market level that summarizes crowding, moving as positioning shifts.

Expiry. A hard end time after which an agent stops on its own. Authority is granted for a window, not forever.

Facilitator. The service that settles an x402 payment onchain as part of a paid read. See x402 overview.

Funding. A periodic payment between longs and shorts on a perp that keeps its price tethered to the underlying. Positive funding usually signals a long-skewed book.

Kill switch. A control that revokes an agent instantly, regardless of its triggers or expiry.

Liquidation. A forced unwind of a leveraged position that can no longer meet margin. See Liquidations.

Liquidation flow. The size and side of forced unwinds across markets over a window, a signal that fragility is starting to release.

Open interest. The total size of outstanding positions in a market. Rising open interest into a one-sided book means more leverage stacking on the same side.

Perp (perpetual future). A leveraged contract that tracks an asset's price with no expiry, kept in line by funding.

Risk read. A plain-language interpretation of positioning produced by the model: where the crowd sits, what unwinds if the level breaks, and how crowded is too crowded. See Risk reads.

Runtime spine. The five-stage path every read follows: Ingest, Detect, Analyze, Decide, Act. See The runtime spine.

Slippage ceiling. The maximum price slippage an agent action may accept before it is rejected.

Support shelf. A price level with enough resting liquidity to absorb a flush, where a liquidation cascade tends to slow.

x402. A standard for paying for an HTTP request per call, built on the HTTP 402 status, used here so machines can pay for reads. See x402 overview.