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

# Glossary

> Terms that appear across the API and WebSocket feeds.

## Round

A 60-second binary market on the BTC price. Each round has a **strike** (the
price to beat), trades for its window, then freezes and settles. See
[Rounds and markets](/concepts/rounds-and-markets).

## `round_number`

Monotonic, never reused — the stable identity for a round. Key your own state
(open orders, positions, PnL history) on `round_number`, not `market_id`.

## `market_id`

The venue's slot identifier for the round currently bound to a market endpoint.
Drawn from a small recycled pool — the same `market_id` will refer to a
different round later. Always re-read the round before acting on a cached value.

## `generation`

The slot's market generation — the order-binding epoch stamped on orders for
that round. Part of the market-id recycling scheme; orders from an old
generation are not valid on a recycled `market_id`.

## Tick

Contract price as an integer from **1 to 99**, in cents, representing implied
probability. Buying YES at tick 47 costs 47¢ per contract and pays 100¢ if YES
wins.

## Outcome

`yes` or `no` — which side of the binary contract you are trading. Combined
with `side` (`buy` / `sell`), this determines book placement and settlement
direction.

## `client_order_id`

Your idempotency key for order placement. You choose it; it must be unique per
order. On timeout, retry with the **same** `client_order_id` — at most one
order results.

## `as_of_seq`

Sequencer position a read was computed at. Appears on every GET response. Restarts
from a low number after a venue restart — it is a session position, not a global
counter.

## `seq`

On write responses, the sequencer stamp for the command — your audit join back
to canonical history. On WebSocket public channels, the per-subscription
envelope counter (contiguous from 1).

## `channel_seq`

On the private `user` WebSocket channel, the per-user monotonic counter for
gap detection and replay. Pass `last_channel_seq` on subscribe to resume.
Distinct from the public per-subscription envelope `seq`.

## Retention caps

Count limits on live listings (`tape_cap`, `terminal_cap`, `reject_cap`,
`fill_cap`). Discover via `GET /v1/exchange/retention`. See
[Retention](/concepts/retention).

## Dead-man

Gateway-side timer: `POST /v1/portfolio/deadman` arms; on timeout the gateway
issues one cancel-all and disarms. Not an order-group fill-velocity limit.

## TWAP / `settle_price`

At freeze, the round's settle price is a time-weighted average of the sequenced
oracle BTC price over the last **N** seconds (default **N = 10**,
`twap_window_secs` on the round row). Stored as an integer in units of 1e-8 USD.

## `cancel_on_pause`

Order flag (default `false`). When set, resting orders are cancelled if the
round pauses or freezes, instead of surviving into the next phase.

## Scope

Permission carried by the API key: `read`, `trade`, or `withdraw`. Bot keys are
`read+trade` only. See [API keys and scopes](/concepts/api-keys).

## Closed schema

Request bodies reject unknown fields with `400 unknown_field`. A typo'd field
name fails loudly instead of being silently ignored.