Documentation Index
Fetch the complete documentation index at: https://tech.ramses.xyz/llms.txt
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Automated Market Maker
An automated market maker is a smart contract on Ethereum that holds liquidity reserves. Users can trade against these reserves at prices determined by a fixed formula. Anyone may contribute liquidity to these smart contracts, earning pro-rata trading fees in return.Asset
While a digital asset can take many forms, the Ramses Protocol supports ERC-20 token pairs, and represents a position in the form of an NFT (ERC-721).Concentrated Liquidity
Liquidity that is allocated within a determined price range.Constant Product Formula
The automated market making algorithm used by Ramses. In v1 and v2, this was x*y=k.Core
Smart contracts that are considered foundational, and are essential for Ramses to exist. Upgrading to a new version of core would require deploying an entirely new set of smart contracts on supported networks and would be considered a new version of the Ramses Protocol.ERC20
ERC20 tokens are fungible tokens on supported blockchain networks. Ramses supports all standard ERC20 implementations.Factory
A smart contract that deploys a unique smart contract for any ERC20/ERC20 trading pair.Flash Swap
A trade that uses the tokens purchased before paying for them.Invariant
The “k” value in the constant product formula X*Y=KLiquidity Provider / “LP”
A liquidity provider is someone who deposits ERC20 tokens into a given liquidity pool. Liquidity providers take on price risk and are compensated with trading fees.Liquidity
Digital assets that are stored in a Ramses pool contract, and are able to be traded against by traders.Mid Price
The price between the available buy and sell prices. In Ramses v1 and v2, this is the ratio of the two ERC20 token reserves. In V3, this is the ratio of the two ERC20 token reserves available within the current active tick.Observation
An instance of historical price and liquidity data of a given pair.Pair
A smart contract deployed from a Ramses v1 or v2 factory contract that enables trading between two ERC20 tokens. Pair contracts are now called Pools in v3.Periphery
External smart contracts that are useful, but not required for Ramses to exist. New periphery contracts can always be deployed without migrating liquidity.Pool
A contract deployed by the V3 factory that pairs two ERC-20 assets. Different pools may have different tick spacing despite containing the same token pair. Pools were previously called Pairs before the introduction of concentrated liquidity.Position
An instance of liquidity defined by upper and lower tick. And the amount of liquidity contained therein.Price Impact
The difference between the mid-price and the execution price caused by your trade size relative to the pool’s liquidity. This is an expected result of the constant product formula in AMMs.Protocol Fees
Fees that are rewarded to the protocol itself, rather than to liquidity providers.Range
Any interval between two ticks of any distance.Range Order
An approximation of a limit order, in which a single asset is provided as liquidity across a specified range, and is continuously swapped to the destination address as the spot price crosses the range.Reserves
The liquidity available within a pair. This was more commonly referenced before concentrated liquidity was introduced.Slippage
The total difference between the expected price at the time of submitting a transaction and the actual execution price, which may include price impact and other market movements that occur before the transaction is mined.Spot Price
The current price of a token relative to another within a given pair.Swap Fees
The fees collected upon swapping which are rewarded to liquidity providers.Tick Interval
The price space between two nearest ticks.Tick
The boundaries between discrete areas in price space.x(3,3)
A governance model built around converting RAM into xRAM, staking that xRAM inVoteModule, and using the resulting balance to direct weekly emissions. The current Ramses contracts are address-based and do not use veNFT voting.
xRAM
The transfer-restricted ERC20 governance token minted byXRam.sol. Users convert RAM into xRAM, then stake xRAM in VoteModule to obtain voting power for Voter.
HyperRAM
The ERC4626 liquid governance wrapper minted byR33.sol. The contract source is named R33, while the token it mints is hyperRAM, backed by xRAM staked in VoteModule.
HyperEVM
The EVM-compatible execution layer of Hyperliquid. Ramses contracts are deployed here. Note: HyperEVM is separate from HyperCore (the L1 for Hyperliquid Perps).Governance-Adjustable Fees
Ramses V3 allows governance to adjust swap fees per pool viafactory.setFee(pool, fee). Each tick spacing has a default initial fee, but fees can be changed at any time. There is no on-chain dynamic fee algorithm — fee changes are governance-controlled.
MEV (Maximal Extractable Value)
Value extracted by transaction ordering. Ramses captures MEV through arbitrage mechanisms that execute during swaps, returning value to the protocol rather than external searchers.Gauge
A reward contract associated with a pool. For CL pools, Ramses uses non-custodial gauges: the pool position remains an NFT, while emissions and reward eligibility are coordinated through the gauge, voter, and position-manager stack.Emissions
RAM tokens minted byMinter, routed into Voter, and then distributed to gauges according to the vote weights recorded for that weekly period.