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Glossary
44 Monad and DeFi terms defined plainly, from MonadBFT to concentrated liquidity.
Alpha · unaudited contract · only deposit what you're happy to lose
- MON
- The native coin of Monad. Gas is paid in MON. It has 18 decimals.
- WMON
- Wrapped MON, an ERC-20 that converts one for one with native MON through deposit and withdraw.
- Chain 143
- Monad mainnet's EIP-155 chain id, 0x8f in hex. A transaction signed for another id will not land.
- MonadBFT
- Monad's consensus protocol, a pipelined BFT design from the HotStuff family with tail-fork resistance.
- RaptorCast
- Monad's block propagation layer that erasure-codes block data and spreads it across validators.
- MonadDb
- A custom database for Ethereum Merkle Patricia Trie state, built for asynchronous disk reads.
- Optimistic parallel execution
- Transactions run in parallel and are re-executed when a conflict with an earlier transaction is detected, so results match serial order.
- Deferred execution
- Consensus orders transactions before they are executed, so execution runs alongside the next rounds of consensus.
- Gas-limit charging
- On Monad a transaction is charged for its gas limit, not only the gas it used. Set a tight limit.
- Base fee
- The protocol-set per-gas price that every transaction in a block pays.
- Priority fee
- A tip per gas paid on top of the base fee to the block producer.
- Finality
- The point after which a block cannot be reverted under the protocol's assumptions.
- Speculative finality
- A state you can act on before full finality, with a small chance of reversal.
- Tail fork
- A fork where a leader drops the previous leader's block; MonadBFT is designed to resist it.
- MEV
- Maximal extractable value: profit a block producer or searcher can take by ordering transactions.
- Sandwich
- A trade placed before and after yours to profit from the price move you cause.
- slot0
- The Uniswap-v3-style pool storage slot holding the current sqrtPriceX96, tick and related fields.
- sqrtPriceX96
- The square root of a pool's price as a Q64.96 fixed-point number.
- Fee tier
- The swap fee of a concentrated-liquidity pool, in hundredths of a basis point (500 = 0.05%).
- Concentrated liquidity
- Liquidity placed in a chosen price range instead of across all prices.
- Price impact
- How much your own trade moves the pool price.
- Slippage
- The difference between the quoted and the filled price.
- Minimum out
- amountOutMinimum: the smallest output you accept; the swap reverts below it.
- Approval
- An ERC-20 allowance letting a contract move your tokens up to an amount.
- Permit2
- Uniswap's shared approval contract that lets apps use signed, expiring allowances.
- LST
- Liquid staking token: a transferable receipt for staked MON.
- aprMON
- aPriori's liquid staking receipt for MON.
- sMON
- Kintsu's liquid staking receipt for MON.
- shMON
- FastLane's liquid staking receipt for MON.
- gMON
- Magma's liquid staking receipt for MON.
- Unstake queue
- The waiting period between requesting an unstake and receiving MON.
- Epoch
- A fixed span of blocks after which validator set and staking changes apply.
- Validator
- A node that participates in consensus and produces blocks.
- Agent vault
- A contract that holds funds an agent can act on within rules the owner set.
- Session key
- A short-lived key allowed to sign only inside limits the account owner approved.
- Passkey
- A WebAuthn credential kept in the device keychain; the private key never leaves the authenticator.
- Non-custodial
- The service never holds the keys that move your funds.
- Revert
- A failed transaction whose state changes are undone; gas is still charged.
- Nonce
- A per-account counter that orders transactions and prevents replay.
- Receipt
- The record of a mined transaction: status, gas used and logs.
- MCP
- Model Context Protocol, a standard way for AI clients to call tools and read resources.
- A2A
- Agent-to-Agent protocol: agent cards and a JSON-RPC task endpoint for agents to call each other.
- EntryPoint
- The ERC-4337 singleton contract that validates and executes UserOperations.
- UserOperation
- An ERC-4337 pseudo-transaction submitted by a bundler on behalf of a smart account.