Afterburner: A contract that allows protocols to use their earned fees to perform leveraged buybacks.

Anchor: Liquidity range consisting of both the bToken and the reserve asset; the tradable range.

Backing: The total amount of reserve assets in the Floor and the Anchor

Baseline Token (bToken): ERC-20 token that is powered by Baseline’s tokenomics engine.

Baseline Value (BLV): The up-only-price at which the protocol can buy back all circulating supply.

Boost: The act of borrowing a bToken without providing new collateral; boost is available when the BLV of a bToken increases, leading to an increase in borrowing capacity.

Bump: A market-making function that calculates at which price the protocol can buy back all of the existing supply and moves the BLV price up accordingly.

Concentrated Liquidity: Technology created by Uniswap that powers Baseline’s tokenomics engine; a series of programmable buy and sell orders placed across a price range.

Credit Facility: A contract that allows you to borrow the reserve asset at the BLV price.

Default: Forfeiting your bToken collateral by not repaying your loan.

Discovery: Liquidity range where unissued bTokens are sold for reserve assets to realize liquidity surpluses.

Floor: The total amount of reserve assets at the BLV price; total capacity at the BLV.

Looping: The act of borrowing the reserve asset to buy more bTokens, and then repeating that process.

Reserve Asset: ERC-20 token that a bToken is paired against, usually ETH, USD, or YES.

Slide: A market-making function that is called when the market price moves down 2%. It reduces the Discovery and Anchor capacity and moves them back to the current price.

Sweep: A market-making function called when the market price goes up 2%. It moves liquidity surpluses to the floor and increases the capacity for the Anchor and Discovery range.

Ticks: Ticks represent the boundaries between discrete areas in price space, with 1 tick indicating a 0.01% increase or decrease in price. Each tick space may have different liquidity depths configured.