Glossary

An alphabetized reference of MAGMA terms. Definitions are concise; follow the linked pages for full mechanics.

A

Arcium A Multi-Party Computation (MPC) network that powers confidential computing for MAGMA Shield. When enabled, a backer's position size is encrypted on-chain so that neither MAGMA's backend nor any single party can read it, allowing institutions to back without revealing size or direction. See Shield — Arcium.

Attestation (SAS) A verifiable on-chain credential issued through the Solana Attestation Service when a wallet's Conviction Score crosses a tier threshold. Any external protocol can read the attestation without accessing MAGMA's database, enabling third parties to offer preferential terms to wallets with verified prediction accuracy.

B

Backing Committing capital to the TRUE or FALSE side of a narrative. Backing capital is locked until oracle resolution, earns DeFi yield throughout the window, and accrues Conviction Score, Eruption Streak credit, and Echo Pool tickets. Every incentive layer in MAGMA is tied to narrative backing.

BackingRecord The per-backer, per-narrative on-chain account (PDA) that stores a participant's committed amount, locked conviction multiplier (conviction_multiplier_bps), yield-receipt data, and is_locked flag. The multiplier is captured here at backing time and does not change if the wallet's score improves before resolution.

Backing Vault The core Anchor program (magma_backing_vault) that holds committed capital, enforces M-of-N oracle consensus, and fans out to the distribution pools via Cross-Program Invocations at resolution. See Pool Architecture.

C

Challenge Window A 48-hour period (on mainnet) that opens after the M-of-N oracle threshold is met and before any funds distribute. Any participant can inspect the on-chain oracle submissions, compare them to public data, and raise a dispute. See Oracle Architecture.

Community Signal One of the four signals in Consensus Oracle Mode: the on-chain, Conviction Score-weighted distribution of backing across participants. Higher-conviction wallets contribute more weight to the aggregate.

Consensus Oracle Mode The resolution mode for SOCIAL, CULTURAL, and CONVICTION categories, which aggregates four signals — discourse, community, research, and time-horizon — and requires supermajority weighted agreement. Narratives must include a Falsifiability Declaration and a measurable proxy metric. See Narrative Categories.

Conviction Score A non-transferable, on-chain reputation metric tracked per wallet, weighted by the financial commitment behind each prediction rather than the raw count of correct calls. It maps to six tiers (Initiate through Volcanic) that unlock progressively higher yield multipliers, lower fees, and higher borrowing privileges, and it never decreases from incorrect predictions. See Conviction Score.

Core Pool The protocol treasury pool (magma_core_pool) that receives 5% of the yield split on TRUE resolutions and 5% of the forfeited capital on FALSE resolutions. Controlled by the treasury multisig; post-TGE it will distribute revenue to $MAGMA stakers. See Pool Architecture.

Correlation Detector A backend system that flags wallet clusters exhibiting coordinated behavior — opposite-side backing, shared funding sources, near-identical backing patterns, or statistically improbable identical outcomes. Flagged wallets have Ruffler eligibility suspended pending admin review.

Creator Backing Lock A requirement that a narrative creator back their own narrative with a minimum SOL-equivalent stake at publication, marked is_locked = true and non-withdrawable before resolution. It ensures a creator who publishes a narrative they do not believe in still has real capital at risk. See YBNCM.

Crucible Pool A weekly pro-rata distribution pool (magma_crucible_pool) funded exclusively by forfeitures from yield-variant binary markets — kept separate from the Echo, Forge, Seam, and Core pools with zero crossover. See Crucible Pool.

D

Deadline Options The fixed narrative durations: FAST (5 minutes), SHORT (7 days), MEDIUM (30 days), LONG (90 days), EXTENDED (180 days), and YEAR (365 days). Only FAST uses the simplified Pyth + Switchboard path; all others use the full oracle stack. See Oracle Architecture.

Discourse Signal One of the four Consensus Oracle Mode signals: AI reasoning analysis of public text to assess the predominant framing of a claim.

Discovery Multiplier A multiplier (up to 2.0×) on a backer's Forge yield share for committing early in a narrative's time window, designed to reward early conviction and thicken thin early markets. The window is computed from the narrative's creation timestamp and deadline — not from pool size — and it stacks multiplicatively with the Conviction and Eruption Streak multipliers. See Discovery Multiplier.

E

Echo Pool A weekly prize draw (magma_echo_pool) funded by DeFi yield generated across the protocol plus the Echo share (37%) of the forfeited capital on FALSE resolutions. Participants earn probability-weighted tickets through correct backings, Eruption Streak tier, and narrative creation, and winners are drawn via Pyth Entropy VRF. See The Echo Pool.

EchoTicket The per-wallet, per-epoch on-chain account (PDA) recording a correct backer's Echo Pool ticket allocation before the VRF draw executes.

Epoch The recurring cycle over which Echo Pool yield accumulates and is distributed, and over which ticket balances reset. A participant who stops contributing stops accumulating tickets in the next epoch.

Eruption Streak A measure of consecutive correct predictions at minimum stake, mapped to five tiers (Tremor, Rumble, Surge, Eruption, Supervolcano) that grant an additional Forge multiplier stacking multiplicatively on the Conviction Score multiplier. Streaks reset on a FALSE resolution, are neutral on REFUND, and at Surge tier (10+) require accuracy across at least three categories. See Eruption Streak.

F

Falsifiability Declaration A required field (minimum 50 characters) for Consensus Oracle narratives that specifies the conditions under which the claim would be false. Together with a measurable proxy metric, it feeds the Resolvability Score computed at submission. See Narrative Categories.

FAST Narrative A 5-minute narrative restricted to the MARKET category — the only category resolvable via Pyth price feeds without AI reasoning. FAST uses a Pyth-primary, Switchboard-fallback path, bypasses the full oracle stack, and requires a minimum backing of 10 USDC equivalent.

finalize_resolution The permissionless on-chain instruction that distributes a narrative's funds once the M-of-N oracle threshold is met and the resolution timelock has expired. It requires no privileged signer — anyone can call it. See Oracle Architecture.

Forge Pool The pool (magma_forge_pool) where resolution economics happen. On FALSE resolution each incorrect backer forfeits 35% of principal (false_forge_bps = 3500) plus 100% of their DeFi yield, which fans out Forge 58% (5800) / Echo 37% (3700) / Core 5% (500) — the Seam/creator-royalty share folds into Echo. On TRUE the DeFi yield is split 58% to TRUE backers (weighted by backing × conviction multiplier), 7% to the Seam Pool, 5% to the Core Pool, and 1.5% as platform fee; principal is returned in full. See Pool Architecture.

G

Guardian Staking A Seeker-native yield mechanism that earns staking rewards on committed SKR without separate delegation. When a Seeker holder backs a narrative with SKR, they earn Guardian staking rewards and narrative yield simultaneously on the same capital. See Seeker Phone & SKR.

I

Intelligence Feed (MAGMA Intelligence) A real-time on-chain data feed powered by Dune Analytics, providing 16 signals across major chains on three refresh tiers (5 / 15 / 30 minutes). It drives ONCHAIN category oracle resolution and is publicly verifiable through the @magmaprotocol Dune account. See MAGMA Intelligence.

L

Publish Fee (formerly Launch Fee) The ~5 SOL in-contract anti-spam fee to publish a narrative (NARRATIVE_PUBLISH_FEE_SOL). About 80% becomes the creator's own locked backing stake on their narrative and ~20% goes to the treasury. On REFUND it is returned in full. Protocol-created narratives bypass the fee via the is_protocol_narrative flag. The binary-market equivalent is BINARY_MARKET_FEE_SOL (defaults to this fee). See YBNCM.

M

$MAGMA The protocol's fixed-supply (500,000,000) utility and governance token that amplifies returns and is additive to — not a replacement for — the Conviction Score. It launches only after the protocol demonstrates product-market fit on mainnet.

M-of-N Oracle Consensus The resolution model in which a minimum number (M) of independent oracle signers (out of N) must submit matching verdicts before finalize_resolution can execute — three on mainnet, one on testnet. No single oracle key controls resolution. See Oracle Architecture.

MLAVA (Lava Tier Card) A MAGMA NFT that grants its corresponding Conviction tier's yield multiplier immediately, without earning the score over time. The system applies MAX(NFT tier multiplier, earned score multiplier), so the NFT never penalizes earned status — it buys the financial benefit but not the reputational signal. See Conviction Score.

N

Narrative A directional claim about a real-world outcome, consisting of a claim string, a resolution time, a backing pool, a yield function, a multiplier function, and an oracle function that resolves it to TRUE, FALSE, or REFUND. The fundamental unit of a Yield-Bearing Narrative Capital Market. See YBNCM.

NarrativeState The per-narrative on-chain account tracking total backed, backer count, oracle status, and resolution outcome.

O

Oracle The resolution system that evaluates a narrative's outcome. MAGMA draws on twelve independent data sources with category-specific weights, distinguishing empirical, evidential, and consensus outcomes, and enforces a 70% minimum confidence threshold. See Oracle Architecture.

OracleSubmission The per-oracle, per-narrative on-chain account written by submit_oracle_resolution, storing the signer public key, vote (true/false), timestamp, and confidence score (0–100).

P

P0 (Project 0) A prime-broker DeFi integration available to Core-tier and above participants within the Vent and backing routing. See DeFi Integration.

Platform Fee The fee on the TRUE yield distribution, with a standard rate of 1.5% (150 bps) and a per-tier schedule ranging from 2.5% (Initiate) down to 0% (Volcanic) by Conviction tier. On Volcanic-tier resolutions the 1.5% that would go to the platform is redistributed to TRUE backers. See Conviction Score.

Pool Architecture MAGMA's four on-chain distribution pools — Forge, Seam, Core, and Echo — each an Anchor program serving a distinct role in resolution economics. See Pool Architecture.

Proxy Metric A measurable indicator declared at submission for a Consensus Oracle narrative, used to make an otherwise qualitative claim resolvable. At least one is required, and it is validated by the Time Horizon Signal at resolution.

R

REFUND A neutral resolution outcome triggered when the oracle cannot produce a reliable verdict (e.g. confidence below threshold, consensus failure, a 72-hour SLA breach, or source failure after maximum retries). All backers receive 100% of principal plus 100% of yield with zero fees, the creator's publish fee is returned in full, and Eruption Streaks are unaffected. See YBNCM.

Research Signal One of the four Consensus Oracle Mode signals: web-search verification of the proxy metrics specified at narrative creation.

Resolvability Score A 0–100 score computed at submission for Consensus Oracle narratives from the Falsifiability Declaration and proxy metric. Narratives scoring below 40 are rejected. See Narrative Categories.

Ruffler MAGMA's weekly prize draw (magma_ruffler), a separate Anchor program from the Echo Pool with its own ticket economy, Pyth Entropy VRF mechanics, and in-contract anti-sybil rules (60-day minimum wallet age, recent backing requirement, and a hard cap of 2 tickets per wallet per round). Prizes pay out across five positions (55/20/12/8/5%). See The Ruffler.

S

SAFE / EXPLOIT Pools The two backing sides of a MAGMA Shield narrative: SAFE backers believe a protocol will not be exploited during the coverage window, EXPLOIT backers believe a qualifying security failure will occur. Both sides earn DeFi yield throughout the window. See Shield — Mechanics.

Seam Pool The creator-royalty pool (magma_seam_pool) that pays a fixed 7% of every Forge distribution to the narrative creator on TRUE resolution only. The rate is a hardcoded constant — not variable by tier — making royalties auditable and predictable. See Pool Architecture.

Shield (MAGMA Shield) A yield-bearing conviction market for DeFi protocol security, where backers stake on whether a specific protocol will be exploited and earn DeFi yield throughout the coverage window regardless of outcome. It operates a Community tier and an application-gated Partnership tier, with optional Arcium confidential computing. See Shield — Overview.

SKR The native ecosystem token of the Solana Mobile Seeker phone, supported as a MAGMA backing token via Guardian staking (Tier 3). See Seeker Phone & SKR.

Sweep Mechanic Automatic reclamation of unclaimed pool balances: unclaimed Forge positions older than 90 days sweep to the Echo Pool, and unclaimed Seam royalties older than 180 days sweep to the treasury, preventing indefinitely locked capital. See Pool Architecture.

Switchboard The universal decentralized oracle fallback, used when a primary source is unavailable or returns low-confidence data, and one leg of the FAST narrative path. See Oracle Architecture.

T

Time Horizon Signal One of the four Consensus Oracle Mode signals: validation of the measurable proxies a creator declared at submission time.

Tier System (Conviction) The six Conviction Score tiers — Initiate (0–49), Ember (50–99), Flare (100–299), Magma (300–599), Core (600–899), and Volcanic (900–1000) — each unlocking a higher yield multiplier (1.0× to 2.5×), lower platform fee, and higher max borrow LTV. See Conviction Score.

TRUE / FALSE The two definitive resolution outcomes. On TRUE, correct backers receive 100% principal, their DeFi yield, and a share of the Forge pool; on FALSE, incorrect backers receive 65% of principal and forfeit 35% of principal plus 100% of yield to the Forge pool. See YBNCM.

V

Vent A standalone DeFi product for depositing SOL directly into supported protocols (Kamino, Save, Jupiter Lend, Marinade, Jito) to earn native APY with no lock and no narrative dependency. Vent positions earn no Conviction Score, streak credit, or Echo Pool tickets, and are isolated from narrative backing at the database layer. See DeFi Integration.

VRF (Pyth Entropy) The Verifiable Random Function used to select winners for the Echo Pool and Ruffler draws. The VRF proof is committed on-chain before any prize releases, so no party — including MAGMA — can influence the outcome, and anyone can verify it. See The Ruffler.

Y

YBNCM (Yield-Bearing Narrative Capital Market) A protocol in which participants commit capital to directional claims about real-world outcomes, and that capital earns DeFi yield throughout the commitment period. MAGMA is the first production implementation of a YBNCM on Solana. See Yield-Bearing Narrative Capital Markets.

Yield Spread The slight margin MAGMA takes below the raw DeFi protocol APY to cover operational costs. In Shield, this spread is capped at 0.5% above the raw protocol rate.