- AMM: Automated market maker. A DEX mechanism where trades move the price based on pool reserves.
- Commitment: The amount of Pi a participant commits during the participation window to purchase tokens.
- Escrow: Contract/program that holds commitments and executes PiRC rules (seed liquidity, distribute tokens).
- Invariant: A rule that must always hold. In PiRC: “committed Pi becomes liquidity, not project revenue.”
- LP position: Proof of providing liquidity (LP tokens, position NFT, or pool share receipt).
- Liquidity lock: Mechanism that prevents withdrawing the initial liquidity position (anti-rug).
- Listing price (p_{list}): The initial pool price (Pi per token) at LP formation.
- Merkkle root / proof: Compact commitment to a dataset; users prove membership using a proof.
- PiRC: Pi Request for Comment. Here, the Pi Launchpad design emphasizing product-first launches and immutable liquidity.
- TGE: Token generation event / market opening.