Definitions of the terms used throughout the product and these docs.
The vocabulary used throughout GM Markets and these docs.
AP (authorized participant) — A regulated entity authorized to mint and burn tokens against custody. The on-chain gateway through which underlying shares enter and leave the tokenized supply.
Asset detail — The page at /asset/<ticker> showing chart, fundamentals, news, and a sticky Buy/Sell bar for any single asset.
Balance pill — The persistent USDF balance affordance at the top of every screen. Tap it to open the funding sheet.
Biometric — Face ID, Touch ID, or your platform passkey. Used at sign-in, and optionally as a per-trade confirmation step when enabled in Account → Security.
Embedded wallet — A wallet provisioned by Privy at sign-up using multi-party computation. Lives in your account; no seed phrase to write down. See Privy embedded wallet.
Fractional shares — Buying less than one whole share. Supported down to six decimal places on every asset.
Limit order — An order at a specified price; rests in the order book until filled or cancelled. See Quick Trade.
LTP — Last traded price. Used as the reference for Limit price quick-suggestions (LTP, LTP-1%, LTP-5%, LTP-10%) and for percent / dollar computations in TP/SL.
Magic link — A one-tap link sent to your email for auth, account recovery, key export, new-device sign-in, or suspicious-activity re-auth. Not used as a value-based confirmation step on trades or withdrawals. See Recovery and security.
Market order — An order at the current quoted price; executes immediately during market hours. See Quick Trade.
MPC (multi-party computation) — A cryptographic technique that splits a private key into multiple shares held by independent parties. The mechanism behind every Privy embedded wallet.
NAV (net asset value) — The on-chain value of a tokenized asset, reflecting price, accrued dividends, and corporate actions. See Dividends and corporate actions.
Passkey — A WebAuthn credential bound to a device, used as a recovery and primary auth method.
Permissionless — No manual approval, no application form. Restricted jurisdictions remain restricted regardless. See Service availability.
Proof of reserves — Independent third-party attestation that publishes share balances on-chain in real time. See Proof of reserves.
RFQ (Request-For-Quote) — The execution model on GM Markets. A tokenized security issuer returns a live quote; you accept within a short window; the trade settles back-to-back. See RFQ execution.
Slippage tolerance — The maximum acceptable drift between quote and execution. Default 0.5%, editable in the trade sheet.
Soft-cancel window — The 5-second countdown after you tap Confirm before the trade submits. Lets you back out without side effect.
Stop Loss (SL) — A conditional sell order triggered when the underlying price falls to a target. See Quick Trade.
Step-up confirmation — The second-factor confirmation step for sensitive account controls: private-key export, new-device sign-in, and suspicious-activity re-auth. Delivered by email magic link or TOTP. Not triggered by trade or withdrawal size — those have no value-based gate.
Take Profit (TP) — A conditional sell order triggered when the underlying price reaches an upside target. See Quick Trade.
TOTP — Time-based one-time password from an authenticator app (Google Authenticator, Authy, 1Password). Optional second factor for step-up.
USDF — The unified stablecoin balance on GM Markets, backed 1:1 by USDC and USDT. One currency across the app; no native gas tokens needed. See USDF stablecoin.
VIP tier — The trading-fee discount ladder based on your trailing 14-day volume. See Pricing and fees.
