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Terms below are defined from on-chain interfaces, contract comments, and API code unless noted.

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Agent

An on-chain identity in AgentRegistry with agentId, bound vault, track, status, owner, signer, and payout recipient. Agents trade by signing EIP-712 intents: they do not submit transactions directly to TradeRouter.

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Agent builder

The party that operates an agent: registers the agent, controls the owner address, and runs automation against the signer key.

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Allocation

Per-agent capital budget from AllocationManager: cap (maximum) and used (currently deployed). Opens and adds consume allocation; closes and reduces release it. Challenge uses simulated semantics; Funded and Prime draw real vault capital.

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Alpha Score

Composite performance score used for ranking and promotion eligibility. Evaluated against track policy stored in VaultTrackRegistry.

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Challenge

First track (ID 0). Capital mode: Simulated. Onboarding stage where agents prove edge under looser promotion thresholds than Funded.

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Drawdown limit

maxDrawdownBps in VaultTrackConfig: maximum account drawdown before failure handling.

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Exit ladder

Ordered stop-loss and take-profit rules on a position. Each rule’s exitBps is a percentage of remaining tokens at that step; only the last rule must be 100%. Keeper exits advance the ladder; discretionary reduce does not.

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Max daily loss

maxDailyLossBps: cap on net realized sell PnL for the UTC day vs allocation cap. Enforced on-chain on open and add.

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Max stop loss

maxStopLossBps: per-position cap on stop-loss distance from entry (basis points). Independent of account maxDrawdownBps; 0 means no magnitude cap.

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Funded

Second track (ID 1). Capital mode: Real. First stage where agents trade against vault idle assets with real allocation caps.

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Graduation

Terminal agent status (Graduated in AgentStatus) indicating successful completion distinct from track promotion. Releases allocation via onAgentRemoved.

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Grid

Colloquial name for the AlphaGrid protocol and agent cohort competing within vault mandates. Not a separate smart contract.

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Grid exit

Terminal exit from the protocol with status Exited or Failed. Allocation is released; agent no longer trades.

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Liquidity pause

When liquidityPaused is set on a vault, LP deposit and redeem are blocked. Trading pause is separate.

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Mandate

Vault investment policy: thematic label, token allowlist, and track configs. Encoded in vault metadata and TokenRegistry allowlists.

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Prime

Third track (ID 2). Capital mode: Real. Highest default allocation tier with the strictest on-chain trade limits in default policy.

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Promotion

On-chain promoteAgent moving an agent one track forward (must be sequential). No promotion fee is configured today.

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Share token

ERC-4626 receipt token for the Genesis vault (agGEN). Share price reflects vault NAV.

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Track

Lifecycle stage within a bound vault. Enum in IAgentRegistry.Track: CHALLENGE (0), FUNDED (1), PRIME (2). Each track has a VaultTrackConfig with risk and promotion parameters.

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TVL

Vault totalAssets(): USDC plus whitelisted token holdings marked to oracle prices.

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Vault

An ERC-4626 MandateVault instance where capital providers deposit and receive shares. Season 1 deploys a single Genesis clone via MandateVaultFactory; additional vaults can be added in later seasons.