Glossary: terms used around HedgerX

Trading

• Spot: buying or selling the asset itself at the current price. No leverage. See spot trading.
• Perpetual future: a contract on a price with no expiry date. See what are perpetual futures.
• Long and short: betting on a rising or a falling price. See long vs short.
• Leverage: using a small margin to control a larger position. See leverage and margin.
• Initial margin and maintenance margin: the minimum to open a position, and the minimum to keep it open.
• Isolated and cross margin: margin limited to one position, or drawn from the whole balance. See margin modes.
• Hedge mode: holding a long and a short in the same pair at once.
• Liquidation and liquidation price: the forced closing of a position when the mark price reaches the liquidation price. See forced liquidation.
• Bankruptcy price: the price at which a position’s margin is gone. HedgerX’s liquidation engine takes the position over at it.
• Insurance fund: a pool that covers liquidation shortfalls.
• Auto-deleveraging (ADL): closing profitable counterparties’ positions at the bankruptcy price when the insurance fund is not enough.
• Funding rate and funding fee: payments between longs and shorts, every 8 hours. See funding rate.
• Index, mark and last price: see the explainer.
• PnL, realised and unrealised: see profit and loss.
• Maker and taker: an order that rests in the book, and one that matches an existing order. See order types.
• Slippage: the gap between the price you expected and the price a market order filled at.
• GTC, IOC and FOK: good till cancelled, immediate or cancel, and fill or kill.
• Post-only: an order that is only ever a maker.
• Take-profit and stop-loss: orders that close a position at a gain or a loss level. See TP and SL.

Accounts and security

• KYC and AML: verifying identity, and the rules against money laundering. See KYC and regulation.
• MSB: money services business, a category FinCEN registers. See regulation.
• 2FA and Google Authenticator: a second login factor from a code app.
• Fund password: a separate PIN for sensitive actions.
• Anti-phishing code: a personal code that appears in every genuine HedgerX email.
• Withdrawal lock: a 24-hour hold on withdrawals after a security change.
• Proof of reserves: evidence that an exchange holds the assets it owes customers. HedgerX lists it as a plan.

Deposits and withdrawals

• Network (ERC-20, BEP-20, TRC-20): the blockchain a transfer uses. See choose the network.
• Memo or tag: an extra field some coins need.
• TxID: the transaction ID that identifies a transfer on the blockchain.
• Confirmations: blocks added after your transfer, needed before it is credited.

HedgerX programs and token

• HEX: HedgerX’s utility token on BNB Smart Chain. See HEX.
• Burn and buyback: removing tokens from supply, and buying them back.
• Vesting: releasing allocated tokens or benefits gradually over time.
• Hedger AI and Core Charging: HedgerX’s trading agent and its entry program. See Hedger AI.
• Hedger Pay and benefit package: HedgerX’s PayFi program and its participation unit. See Hedger Pay.
• Transfer quota: the allowance needed to move program earnings to the exchange account.
• PayFi: payments combined with finance. See what is PayFi.
• Rank (A0 to A13): a level in a referral plan. See affiliate plans.
• Node: a paid participation tier. See nodes.