# Glossary

<table data-view="cards"><thead><tr><th></th><th></th></tr></thead><tbody><tr><td><h3 id="dex">Base Token</h3></td><td>The target token to trade. For example, in the LRC-ETH trading pair, LRC is referred to as the base token.</td></tr><tr><td><h3>DEX</h3></td><td>Decentralized Exchange - An exchange that uses self-custodial wallets ensuring each person retains their assets at all times.</td></tr><tr><td><h3>EdDSA</h3></td><td>The signing algorithm is used by Loopring to sign off-chain requests. EdDSA is more circuit friendly compared to Ethereum's ECDSA algorithm.   </td></tr><tr><td><h3 id="eddsa"><code>nftData</code></h3></td><td>A hash of NFT parameters: minter address, NFT type, NFT ID, token address, and more.</td></tr><tr><td><h3 id="off-chain-requests">Off-chain Requests</h3></td><td>User requests are sent to the Loopring Exchange using Loopring's API.</td></tr><tr><td><h3 id="on-chain-requests">On-chain Requests</h3></td><td>User requests are sent to the Loopring Exchange through Ethereum transactions.</td></tr><tr><td><h3 id="quote-token">Quote Token</h3></td><td>The token to quote price. For example, in the LRC-ETH trading pair, ETH is referred to as the quote token.</td></tr><tr><td><h3 id="relayer">Relayer</h3></td><td>Loopring Exchange's backend system that handles order matching and settlement, deposits, withdrawals, Zero-Knowledge Proof generation, etc.</td></tr><tr><td><h3 id="size">Size</h3></td><td>The quantity of the base token in an order or a fill.</td></tr><tr><td><h3 id="volume">Volume</h3></td><td>The quantity of the quote token in an order or a fill</td></tr><tr><td><h3 id="zero-knowledge-proofs">Zero-Knowledge Proofs</h3></td><td>A method by which one party (the prover) can prove to another party (the verifier) that they know a value <em>x</em>, without conveying any information apart from the fact that they know the value <em>x</em>.</td></tr><tr><td></td><td></td></tr></tbody></table>

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