Resources/Glossary

Glossary

Short definitions for the terms used throughout these docs. If a term in the docs feels jargon-heavy, it should be explained here.

Core mechanics

OTCOver-the-counter. A trade that happens between two specific parties at an agreed price, off any public order book.

Atomic settlementBoth legs of the trade execute inside one Solana transaction. The transaction either commits both legs or commits nothing.

MakerThe party that creates the offer and locks their side into escrow at a chosen price.

TakerThe party that fills an existing offer (in full or in part). Pays the 0.20% fee.

Asset sideThe SPL token being sold or bought. Any SPL mint is allowed.

Payment sideThe mint used to pay for the asset. Restricted to USDC, USDT, or wSOL.

Side (sell / buy)On a sell-side offer the maker deposits tokens and wants payment. On a buy-side offer the maker deposits payment and wants tokens.

Min fillThe smallest amount a taker can fill in a single take_offer call. Set by the maker. The final dust slice is always allowed regardless.

Partial fillA fill smaller than the offer's remaining size. Multiple takers can split one large offer.

Remaining sizeHow much of the offer is still unfilled. Decremented on each take. Hits zero on the final fill, which closes the offer.

Solana terms

SPL tokenA token issued under the Solana Program Library token standard. The asset side of an Invia offer can be any SPL token.

PDAProgram-derived address. An account whose authority is the program itself, not a user keypair. Invia's vaults are PDAs.

ATAAssociated token account. The canonical token account a wallet uses to hold a particular SPL mint.

wSOLWrapped SOL. The SPL-token form of native SOL, used so SOL can flow through token-program instructions like every other mint.

AnchorThe Rust framework Invia is written in. Adds account validation, IDL generation, and ergonomic instruction handlers on top of native Solana programs.

Upgrade authorityThe key that can publish new bytecode against a deployed program. Renounced means no key can, the bytecode is permanent.

MintThe on-chain account that defines a token (decimals, supply, mint authority). Often used as shorthand for the token's address.

Pricing terms

MidMid-market price, halfway between the best bid and best ask. The app uses Jupiter's aggregated mid across Raydium, Meteora, and the pump.fun AMM.

Δ vs midHow far the offer's price is from mid. Negative is below mid (good for takers); positive is above mid (good for makers).

SlippageThe price impact of trading size against an LP curve. Invia has none, the price is fixed at offer creation.

NotionalThe trade's value in the payment mint. fill_amount × price_per_token.

BpsBasis points. 1 bps = 0.01%. The taker fee is 20 bps = 0.20%.

Lifecycle

create_offerOpens an offer and escrows the maker's side.

take_offerFills part or all of an offer. Skims the 20 bps fee.

cancel_offerMaker-only. Returns escrow and closes the offer.

expire_offerPermissionless after the deadline. Returns escrow to the maker, pays the caller a small SOL bounty for cleanup.