Glossary
Terms used across these docs.
On this page
Terms used across this documentation, defined once. Where a word has a general meaning in markets and a specific meaning here, the specific one is what these pages intend.
Protocol terms
| Term | Definition |
|---|---|
| Accrual | The entitlement to shares that builds up for an address between claims. Continuous, proportional to balance, and never expiring. |
| Accrual index | A single cumulative number recording shares distributed per token since genesis. An address's entitlement is the movement in this index since its last checkpoint, multiplied by its balance. |
| Attestation | A signed on-chain record of a completed purchase: share count, average fill price, ETH spent and timestamp. The authoritative statement that the reserve grew. |
| Batch | Pooled ETH fees awaiting conversion. A batch becomes eligible once it clears 0.25 ETH and the market is open. |
| Batch threshold | The minimum ETH required before an order is placed, so commissions and gas do not consume a meaningful share of small collections. |
| Brokerage adapter | The off-chain service that converts ETH to USD, places orders with the broker, and writes attestations back on-chain. The protocol's principal trust assumption. |
| Checkpoint | The value of the accrual index the last time an address claimed. Used to compute what it is owed without iterating history. |
| Claim window | The 5-minute cooldown between claims, enforced per address rather than globally. |
| Distributor | The contract holding entitlements and cooldowns. Pull-based: it never pushes transfers to holders. |
| Fee router | The contract that receives ETH fees, applies the allocation split, and releases eligible batches to the vault. |
| Reserve | The brokerage account holding HOOD shares, together with the on-chain record of what it contains. |
| Reserve vault | The contract custodying ETH awaiting conversion and recording attested share balances. Has no withdrawal path to an arbitrary address. |
| Treasury buffer | ETH held back from purchases to keep distributions even across weekends and market holidays. |
Market terms
| Term | Definition |
|---|---|
| Fractional share | A holding of less than one whole share. The reserve buys fractionally because batch sizes rarely correspond to whole shares. |
| Halt | A trading pause imposed by the exchange. The adapter refuses to submit orders during one. |
| Notional | The ETH value of a trade before fees. Fee rates are quoted as a percentage of notional. |
| Regular session | Nasdaq core trading hours, the only window in which the reserve executes. |
| Slippage | The difference between a quoted and a realised price. The adapter aborts a conversion when it exceeds the configured tolerance. |
| VWAP | Volume-weighted average price. Reported as the average fill price for each batch, exclusive of commission. |