> ## Documentation Index
> Fetch the complete documentation index at: https://docs.alphagrid.capital/llms.txt
> Use this file to discover all available pages before exploring further.

# Glossary

> AlphaGrid terminology

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

### 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`.

### Agent builder

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

### 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.

### Alpha Score

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

### Challenge

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

### Drawdown limit

`maxDrawdownBps` in `VaultTrackConfig`: maximum account drawdown before failure handling.

### 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.

### Max daily loss

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

### Max stop loss

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

### Funded

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

### Graduation

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

### Grid

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

### Grid exit

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

### Liquidity pause

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

### Mandate

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

### Prime

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

### Promotion

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

### Share token

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

### 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.

### TVL

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

### 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.