Glossary
A reference guide to common terms used throughout the LoomLay platform and documentation.
Blockchain Terms
SOL
The native token of the Solana blockchain. Used to pay transaction fees and as the primary trading pair for tokens on LoomLay.
SPL Token
Solana Program Library Token - The standard token format on Solana, similar to ERC-20 on Ethereum. All tokens launched on LoomLay are SPL tokens.
Transaction
An on-chain operation that modifies blockchain state. Examples include transfers, swaps, and token launches. Solana transactions require a small fee paid in SOL.
Wallet
Software or hardware that stores your private keys and allows you to sign transactions. Popular Solana wallets include Phantom, Solflare, and Backpack.
Private Key
A secret cryptographic key that proves ownership of a wallet address. Never share your private key or seed phrase with anyone.
Seed Phrase
A 12 or 24-word recovery phrase that can restore access to a wallet. Also called a mnemonic or recovery phrase.
Block
A bundle of transactions processed together on the blockchain. Solana produces blocks approximately every 400 milliseconds.
Confirmation
When a transaction is included in a block and verified by the network. Solana transactions typically confirm in 1-2 seconds.
DeFi Terms
AMM
Automated Market Maker - A system that uses mathematical formulas to set prices and enable trading without traditional order books. Trades execute against a liquidity pool.
DAMM
Dynamic Automated Market Maker - Meteora's implementation of an AMM with dynamic fees and concentrated liquidity. All LoomLay tokens trade on DAMM v2 pools.
Liquidity Pool
A collection of tokens locked in a smart contract that enables trading. Pools contain two tokens (like SOL and your token) that traders can swap between.
Liquidity Provider (LP)
Someone who deposits tokens into a liquidity pool. LPs earn a share of trading fees proportional to their contribution.
Slippage
The difference between the expected price of a trade and the actual executed price. Higher slippage can occur with large trades or low liquidity.
Price Impact
How much a trade affects the token's price. Large trades relative to pool liquidity cause higher price impact.
Swap
Exchanging one token for another through a liquidity pool. For example, swapping SOL for USDC.
DEX
Decentralized Exchange - A trading platform that operates without a central authority, using smart contracts to execute trades. Meteora is a Solana DEX.
TVL
Total Value Locked - The total value of assets deposited in a protocol or pool, usually measured in USD.
LoomLay Terms
Instant Launch
A quick token deployment method that creates a token and liquidity pool in just 2 transactions. No approval needed, and tokens are immediately tradable.
Curated Launch
A vetted token launch that goes through an application process. Includes a 24-hour funding period and token vesting for participants.
Alpha Vault
Meteora's mechanism for whitelist-based token sales with built-in vesting. Used for the initial sale phase of curated launches.
Fee Split
The division of trading fees between the token creator and the LoomLay platform. For instant launches, this is 60% to the creator and 40% to the platform.
Funding Period
The 24-hour window during a curated launch when participants can deposit funds. Deposits outside this window are not accepted.
Vesting
A schedule that controls when tokens become available. Tokens vest gradually over time rather than all at once.
Cliff
The initial period of a vesting schedule during which no tokens are released. After the cliff ends, tokens begin unlocking.
Linear Vesting
A vesting method where tokens unlock at a constant rate over time. For example, 10% per month for 10 months.
Discovery Feed
The LoomLay interface for browsing and finding tokens. Shows trending tokens, new launches, and top gainers.
Trading Terms
Market Cap
Market Capitalization - The total value of a token's circulating supply, calculated as price multiplied by circulating supply.
Volume
The total value of trades over a period, typically measured in 24 hours (24h volume).
Order Book
A list of buy and sell orders at different prices. Note: AMMs like Meteora don't use order books - they use liquidity pools instead.
Limit Order
An order to buy or sell at a specific price. Not natively supported by AMMs but can be implemented through specialized protocols.
Market Order
An order to buy or sell immediately at the current market price. All swaps on LoomLay are effectively market orders.
Technical Terms
RPC
Remote Procedure Call - The interface used to communicate with blockchain nodes. RPC endpoints allow applications to read data and submit transactions.
API
Application Programming Interface - A set of rules for how software components interact. The LoomLay API enables programmatic access to platform features.
SDK
Software Development Kit - A collection of tools and code libraries for building applications. The OpenClawWallet SDK enables developers to integrate LoomLay features.
Smart Contract
Self-executing code deployed on a blockchain. On Solana, these are called "programs." LoomLay uses established Meteora programs rather than custom contracts.
Mainnet
The primary, production blockchain network where real assets have value. As opposed to testnet or devnet used for development.
Gas
A term from Ethereum for transaction fees. On Solana, the equivalent is simply called the "transaction fee" and is paid in SOL.