Glossary.

sw token

The vault's token for one stock: the stock ticker with the lowercase sw prefix, such as swINTC. A pro-rata claim on the vault's liquidity.

A company that tokenizes a stock. Several issuers can tokenize the same stock; each version trades in its own pool.

Devnet test tokens that stand in for INTCx from xStocks and INTC from Backpack.

Meteora's constant-product AMM (cp-amm). The vault's liquidity sits in one DAMM v2 pool per stock.

The part of each conversion fee that DAMM v2 adds back to the pool's reserves. It raises the value of every sw token.

The fixed amount of pool liquidity behind one share, set when the vault is created.

Sweeping the non-compounding part of the fee to the treasury. Anyone can call it.

The account that receives the protocol's cut of conversion fees.

The most a quote may move before the transaction fails: 0.5% for deposits and redemptions, 1% for conversions in the app.