Documentation Index
Fetch the complete documentation index at: https://whitepaper.flowstate.exchange/llms.txt
Use this file to discover all available pages before exploring further.
AMM (Automated Market Maker) A smart-contract-based exchange that prices trades against pool reserves using a fixed mathematical formula, typically the constant product invariant x · y = k. The model that Uniswap, SushiSwap and most decentralised exchanges use. AMMs are permissionless and flexible but suffer price impact on large trades.
Aggregator A service that scans multiple liquidity sources (AMMs, RFQ, intent systems, C1 Pools) and routes trades through the path that delivers the best execution. KyberSwap, 1inch, OKX DEX and Odos are major DEX aggregators.
C1 Pool FlowState’s core liquidity primitive. A single-sided, oracle-priced liquidity pool that delivers zero price impact on trades by referencing an external oracle feed instead of an internal bonding curve.
Chainlink An industry-standard oracle network with 1,000+ price feeds across EVM chains. One of the two oracle providers FlowState uses for C1 Pool pricing.
Circuit breaker A protocol mechanism that pauses execution automatically if oracle prices move beyond a configurable threshold within a single block or short timeframe. Prevents exploitation during oracle manipulation events.
CLAMM (Concentrated Liquidity AMM) An AMM variant (Uniswap V3, PancakeSwap V3) that lets LPs deposit liquidity into specific price ranges instead of across the full curve. Improves capital efficiency within range but does not eliminate slippage at scale.
Constant product formula The pricing equation used by classic AMMs: x · y = k, where x and y are pool reserves and k is a constant. As trades shift the reserve ratio, the price moves along a hyperbolic curve. This is the source of AMM price impact.
DEX aggregator See Aggregator.
EVM (Ethereum Virtual Machine) The execution environment used by Ethereum and most major Layer 2 chains (Arbitrum, Base, Optimism, Polygon and others). FlowState’s primary deployment is on EVM chains.
FLOW FlowState’s governance token. FLOW holders vote on protocol parameters, fee rates and treasury allocation.
Impermanent loss (IL) The loss a liquidity provider incurs when the relative price of pool assets changes after deposit. AMM LPs face IL because the pool rebalances toward the asset that depreciates. C1 Pool depositors do not face IL because deposits are single-sided and priced at oracle.
Intent system A protocol where users sign off-chain orders specifying desired outcomes (“intents”) and solvers compete to fulfil them. UniswapX, CoW Protocol and 1inch Fusion+ are major intent systems.
Liquidity Provider (LP) Anyone who deposits assets into a liquidity pool. AMM LPs deposit two-sided. C1 Pool depositors are technically also LPs but their economics are fundamentally different (no IL, fixed-price exit).
Oracle A service that brings off-chain or external price data on-chain. C1 Pools use oracles (primarily Pyth and Chainlink) to price token settlement, replacing AMM curve mechanics.
Oasis The Solana-native sister brand to FlowState, deploying the same C1 Pool architecture on Solana. Separate cap table, separate roadmap. Documented under its own brand.
Price impact The difference between the spot price of a token before a trade and the average execution price of that trade. On AMMs, price impact scales non-linearly with trade size relative to pool depth. On C1 Pools, price impact is zero.
Prop AMM A proprietary AMM (HumidiFi, Lifinity) that uses off-chain pricing tied to centralised exchange feeds. All inventory is owned by the operator, not external LPs. Highly capital-efficient on liquid pairs. Cannot serve thin-liquidity tokens because they require CEX price feeds.
Pyth Network A high-frequency oracle network with sub-second updates. Native to Solana but covers EVM chains as well. One of the two oracle providers FlowState uses.
BD An entity that brings volume to C1 Pools and earns a fee share for doing so. New BD partners can be onboarded under the same fee model.
RFQ (Request for Quote) A protocol where market makers provide signed price quotes for specific trades. Hashflow and Bebop are the major RFQ platforms in DeFi. RFQ delivers zero slippage for any pair the market maker is willing to quote.
Series X A fundraising and vesting platform built on FlowState’s C1 Pool infrastructure. Provides structured token distribution with C1-backed exit liquidity for VC and team allocations. Distinct brand, complementary to FlowState.
Settlement The on-chain step where a trade is executed and assets change hands. C1 Pool settlement is atomic and happens in the same transaction as the aggregator’s routing call.
Single-sided liquidity A pool design where depositors supply only one asset, not a two-sided pair. C1 Pools accept single-sided deposits because pricing comes from an oracle, not from a reserve ratio.
Slippage The difference between the expected price of a trade and the actual execution price. Typically caused by price impact on AMMs. C1 Pools deliver zero slippage because the price is fixed by the oracle at quote time.
SOR (Smart Order Router) The component of a DEX aggregator that decides which liquidity sources to route through for a given trade. SORs compare net execution price across all available sources and select the cheapest. C1 Pools always win this comparison when liquidity is available.
STATE FlowState’s fee-capture token. STATE stakers receive 0.30% of all volume routed through C1 Pools, distributed at settlement.
Treasury A protocol-controlled allocation that receives 10% of every C1 Pool fee. Used to fund ongoing protocol development, integrations and ecosystem initiatives.
TWAP (Time-Weighted Average Price) A price calculation method that averages prices over a defined time window. C1 Pools use TWAP smoothing on oracle feeds to mitigate transient price spikes from short-duration manipulation.
UniswapX Uniswap’s intent-based execution layer. Solvers compete to fulfil user-signed orders at the best price. Strong execution on liquid pairs. Cannot serve thin-liquidity tokens because solvers will not hold inventory.
