snipe.exchange / glossary · precision
The vocabulary.
Precise.
Every term used on the Snipe marketing site, defined and deep-linkable. No hand-waving, no approximations.
c
- Continuous strike
- Pick any price along the entire price curve, not a preset bucket. DeepBook’s shared vault prices the contract on demand.
e
- Expiry-based
- Snipe’s markets are not perpetual. Each contract has a defined expiry and settles by oracle. Closer in shape to options than perps.
h
- Hairline rule
- A 1px border separating sections on Snipe. The design system uses hairlines instead of cards.
i
- Implied probability
- The vault’s estimate of the probability the underlying expires in your range / above your strike. Drives the payout multiple.
l
- Leverage tier
- Five tiers on the testnet terminal — 1×, 5×, 10×, 25×, 40×. Mainnet caps are subject to risk parameters, with 40× on selected markets only. Tiers ≥ 25× require explicit risk acknowledgement. see /trade
- Liquidation distance
- The price move (up or down) at which collateral falls below maintenance threshold and the position is closed. Always shown in the trade ticket before signing.
m
- Margin pool
- DeepBook Margin’s borrow/lend infrastructure. Extends collateral for leveraged positions across spot and prediction markets.
- Mono numeral
- Tabular monospace digits via font-feature-settings: "tnum". Every price, size, P&L, and tx hash on Snipe renders monospace.
n
- Native range
- Express a view like “BTC ∈ [80k, 85k]” as one contract — one fee, one slippage, one position — instead of two opposing legs across two markets. Snipe implements it as a range market.
o
p
- Payout multiple
- The factor by which a winning position multiplies its collateral. Higher implied probability → lower multiple. Leverage scales the multiple proportionally.
- PLP
- Predict Liquidity Provider — a share in the shared vault. PLPs deposit collateral and earn pro-rata fees from every contract the vault prices. see /vault
r
- Range market
- A market whose payoff is positive if the underlying expires inside a price band. Implemented as one contract with two bounds. see /markets
s
- Strike (price)
- The reference price for a contract. Determines the payoff curve’s inflection point.
- Strike line
- The horizontal accent line marking the selected strike on the price chart. Tracks the slider in real time.
- Sui finality
- Sui consensus produces final confirmation in well under a second. Snipe’s sign-and-place flow targets ≈ 480 ms end-to-end.
t
- Testnet alpha
- The current operating state. Snipe runs against DeepBook’s testnet deployment. No real funds. No KYC. Mainnet ships when audits land and DeepBook Predict mainnet ships. see /changelog