| SimCore | The protocol's execution engine. Fills every trade against real, live market prices, but keeps the exposure itself fully simulated. |
| Evaluation | A paid trading assessment against the platform's fixed rulebook. Passing converts the account to funded. |
| Funded account | A simulated trading account issued after passing an evaluation. Trading stays simulated; payouts are real. |
| Rules snapshot | The exact evaluation or funded-account rules locked in at the moment of purchase. Can be tightened for future purchases, never changed retroactively on an open account. |
| Firm | A branded storefront, an evaluation and funded-account product, deployed on the shared protocol. |
| Autonomous Risk Engine (ARE) | The automated system that scores every firm's financial health and adjusts payout speed, evaluation difficulty, and leverage in response. Identical logic runs on every firm. |
| $FIRMA | A firm's own fixed-supply token, minted at launch. Used to fund and deliver payouts via the firm's bonding curve. |
| $DPROP | The protocol-wide token (not yet launched). Funded by a small slice of every evaluation fee across every firm. |
| Bonding curve | The on-chain market for a firm's $FIRMA token, and the mechanism its treasury buys from to fund payouts. |
| Graduation | The point at which a firm's token has enough market depth to migrate its liquidity to a public Solana DEX. |
| Backstop staking | Capital voluntarily staked by outside investors as a firm's payout collateral, in exchange for yield. Drawn on only after a firm's own treasury and token reserve are exhausted. |
| Universal Treasury Pool | A cross-firm shared liquidity pool, funded by a slice of every firm's fees, used only as the last layer of the payout waterfall. |
| Payout waterfall | The ordered sequence a payout draws from: a firm's own treasury, its token reserve, its backstop pool, then the Universal Treasury Pool. |
| Operator bond | A 50 SOL collateral stake every firm posts, self-funded from its own fee revenue, seized if a settlement is proven fraudulent. |
| Fault proof | The on-chain process for proving a settlement doesn't match its own underlying trade history. Backs the "the firm can't fake a result" guarantee. |
| Auto-bankruptcy | The only path to a firm closing: triggered automatically if a firm draws too heavily on the Universal Treasury Pool. Every trader is paid in full first; there's no owner-initiated shutdown. |
| Risk tier | A firm's current health classification under the ARE: Trusted, Standard, Strained, or Critical. Only ever tightens what new evaluations and payouts look like going forward, never retroactively. |
| Wallet Standing | A trader's reputation tier (New through Elite), tied to their wallet address across every firm they use, not to any single firm. Earned through clean completed payouts over time; loosens payout caps and cooldowns as it climbs. |
| Flagged | A sub-baseline Wallet Standing, stricter than New on every lever, imposed (not earned) when a wallet trips an integrity concern. Recoverable: it isn't a permanent record, and standing recomputes once the concern clears. |
| Trader Happiness Score | A public 0–100 score shown on every firm's storefront, computed from that firm's real trader outcomes rather than set by the firm itself. |
| No-risk staking | A $FIRMA staking pool that never absorbs trader-payout losses, earning a smaller, steady yield in exchange for carrying no downside. |
| Comeback discount (loss-back credit) | A small, automatic discount toward a trader's next evaluation, accrued against their own past spending. Costs nothing unless a trader actually returns and redeems it. |
| Profitability preset | The one economic dial a firm sets at launch: a tradeoff between trader split and evaluation pricing (Max Profit, Balanced, or Most Conservative). Everything past this one choice is managed automatically by the risk engine. |
| Growth-phase pricing | A separate, automatic axis from firm health: evaluation pricing rises and the trader split narrows as a firm's real reserves grow, and drops back a phase if payouts stall. |
