Glossary of Terms

Auto-Deleveraging (ADL)

In extreme market conditions, when the insurance fund is insufficient to cover losses, the system automatically reduces some profitable positions to maintain overall market stability.

Backstop Liquidation

When order book liquidity is insufficient to complete forced liquidation, unliquidated positions are taken over by the insurance fund or designated liquidators to reduce systemic risk.

Collateral

Funds deposited by users on the AnteX platform to open and maintain positions, ensuring contract fulfillment.

Cross Margin

All positions share the margin balance within an account. This improves capital efficiency but also spreads risk across positions.

Isolated Margin

Margin is allocated independently to each position. Risk is contained within that position, preventing chain liquidations.

Funding Rate

A settlement mechanism to keep perpetual contract prices anchored to spot market prices. On AnteX, funding is settled every 8 hours, determined by the premium index and interest rate.

Impact Price

The weighted average execution price based on order book depth, used to calculate the premium index and funding rate.

Oracle Price / Mark Price

A price benchmark calculated by AnteX’s decentralized oracle network, aggregating multi-source data with on-chain mechanisms, used for settlement, funding, and liquidation triggers.

Initial Margin

The minimum margin required to open a new position, calculated as: Position Value ÷ Leverage.

Maintenance Margin

The minimum margin required to maintain a position. Falling below this threshold triggers liquidation.

Liquidation

Forced position closure triggered when margin is insufficient to meet the maintenance margin requirement, preventing further losses.

Maker Order

An order placed into the order book to wait for execution, adding liquidity to the market.

Taker Order

An order that executes immediately against existing orders in the order book, consuming market liquidity.

Premium Index

Reflects the deviation between contract prices and oracle spot prices, used in funding rate calculations.

Time-In-Force (TIF)

Defines how long an order remains valid. Includes:

• GTC (Good-Til-Cancelled)

• IOC (Immediate-Or-Cancel)

• FOK (Fill-Or-Kill)

TWAP (Time-Weighted Average Price)

The weighted average execution price calculated over time intervals, used to smooth the execution of large orders and reduce price impact.

Liquidity Pool (ALP)

A pool of assets deposited by users to support trading depth and settlement. Liquidity providers (LPs) earn a share of fees and incentives.

DAO Governance

AnteX’s decentralized governance system, where users vote on key platform parameters such as leverage limits, asset listings, and fee ratios.

Withdrawal Controls

Temporary restrictions on withdrawals during extreme market conditions to ensure sufficient margin coverage for open positions and prevent systemic risk.

Cross-Chain Protocol

AnteX’s native cross-chain module, enabling seamless asset flows across multiple blockchains. Initial support includes Ethereum, BNB Chain, Polygon, and Arbitrum.

On-Chain Matching Engine

A core AnteX technology module that executes order matching and settlement entirely on-chain, ensuring transparency and immutability.

Decentralized Oracle Network

AnteX’s proprietary oracle system that provides trustworthy, manipulation-resistant price and market data feeds.