Glossary
Key terms and definitions used throughout OddMaki documentation.
A
Access Control
A pluggable contract that gates trading or market creation. OddMaki supports venue-level and per-market overrides, plus a zero address for open access. See Access Control.
Assertion
A claim submitted to UMA's Optimistic Oracle stating a market's outcome. The asserter posts a bond; if undisputed during liveness, the assertion is accepted.
B
Basis Point (bps)
One hundredth of a percent (0.01%). Fees are expressed in bps. Venue fee: 1–200. Protocol fee: 0–200. Operator fee: 10 (fixed).
Batch Operations
Entry points on BatchOrdersFacet that place up to 20 orders, cancel up to 100, or atomically cancel-and-replace on the same market. See Batch Operations.
Bond
The USDC amount an asserter deposits when proposing a UMA resolution. Returned if the assertion is undisputed; forfeited if disputed and wrong.
C
CLOB
Central Limit Order Book. OddMaki's fully on-chain order matching system. Every order, fill, and cancel happens on Base.
CTF
Conditional Token Framework (by Gnosis). The ERC-1155 contract that mints, burns, and redeems outcome tokens based on oracle-reported payout vectors.
Close Time
For price markets, the timestamp at which the oracle price is captured for final resolution. Must be 5 minutes to 24 hours from creation.
D
Diamond Proxy
The EIP-2535 smart contract architecture used by OddMaki. A single proxy delegates calls to 21 facets, enabling modular upgrades without changing the contract address.
F
FAK
Fill-and-Kill. Fills as much as possible, cancels the remainder. No resting order left on the book.
FOK
Fill-or-Kill. Must fill entirely or revert.
Feed Provider
An oracle source used by a price market. PYTH = 0 is currently supported; CHAINLINK = 1 is reserved for a future resolution facet.
L
Liveness Period
The UMA challenge window (in seconds) during which anyone can dispute an assertion. Minimum 7200 seconds (2 hours). Configured per venue.
M
Maker
The resting side of a fill. The maker pays no fee in OddMaki's taker-only model.
Market
A single prediction question with defined outcomes. Binary, grouped, and price markets are all supported.
Market Creation Fee
A venue-level USDC fee charged to the market creator at createMarket. Minimum 5 USDC; split 50/50 between protocol treasury and venue.
Market Group
A set of mutually exclusive markets where one YES cascades the rest to NO via the NegRisk adapter. Up to 50 markets per group, including placeholders.
Merge / Merge-to-Fill
Merge converts a complete set of outcome tokens back into collateral. Merge-to-Fill is the settlement path triggered when two opposing sellers' combined asks are ≤ 1.0 − fees.
Mint / Mint-to-Fill
Split (mint) converts collateral into a complete set of outcome tokens. Mint-to-Fill is the settlement path triggered when two opposing buyers' combined bids ≥ 1.0 + fees.
N
NegRisk
The adapter used for market groups that enforces mutual exclusivity and enables NO-to-YES position conversion.
Normal Fill
Standard same-outcome buyer/seller matching. Execution at the ask price; taker bears the fees.
O
Operator Fee
A fixed 10 bps fee paid to whoever calls matchOrders for each fill. Separate from the protocol and venue fees.
P
Placeholder Market
A reserved slot in a market group that can be activated later with a real question and outcome name.
Price Market
An auto-resolving market fed by Pyth. Two modes: Up/Down (captures opening price) and Strike (explicit target). See Price Markets.
Protocol Fee
The protocol-wide taker fee in bps, configurable between 0 and 200 by the protocol owner. Snapshotted into each market at creation.
Pyth
A decentralized price-feed network. OddMaki integrates Pyth for price-market resolution via PythResolutionFacet.
R
Resolution Window
For price markets, the allowed tolerance around closeTime for the Pyth update timestamp. Defaults to 60 seconds.
S
Split
The process of locking collateral to mint a complete set of outcome tokens. The inverse of merge.
Strike Price
For price markets in Strike mode, the explicit target price against which finalPrice is compared.
Suspend
A protocol-owner lever that locks a venue. Distinct from the venue operator's pause; only the protocol owner can un-suspend.
T
Taker
The crossing side of a fill. Pays the full fee stack (protocol + venue + operator) in OddMaki's taker-only model.
Tick
The minimum price increment for orders. Tick size is set per market — typically 1e16 (1%) or 1e15 (0.1%).
U
UMA
The Optimistic Oracle V3 used to resolve discretionary binary and grouped markets. Resolution is assertion-based with a dispute path to UMA's DVM.
V
Venue
An on-chain configuration registered on the OddMaki protocol. Stores fee structure, oracle parameters, access control, and operator identity.
Venue Operator
The msg.sender of createVenue — the immutable operator address. Controls pause, fees, access control, and oracle params.
Venue Starter
The white-label Next.js 15 application that venue operators fork and deploy as their prediction-market frontend.