> For the complete documentation index, see [llms.txt](https://the-heist-1.gitbook.io/the-heist-docs/llms.txt). Markdown versions of documentation pages are available by appending `.md` to page URLs; this page is available as [Markdown](https://the-heist-1.gitbook.io/the-heist-docs/getting-started/key-concepts.md). # Key Concepts Quick definitions for terms you'll see throughout these docs. Each one links to the page with the full explanation. | Term | What it means | | ---------------------------------------------------------------------------------------- | ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | | **Peg / target price** | LOOT's target: **1 LOOT = 0.001 WETH**. Not a promise — a level the protocol's rules actively push toward. | | **TWAP** | Short for "time-weighted average price." Instead of reacting to one single trade, the protocol looks at the average price over a recent window — smoother, and much harder to fake with one big trade. | | [**Epoch**](/the-heist-docs/how-it-works/the-peg-and-the-printer.md) | The Printer's clock: every 6 hours, it checks the price and decides whether to create more LOOT. | | [**Expansion**](/the-heist-docs/how-it-works/the-peg-and-the-printer.md) | New LOOT created when the price is above target. Capped per check, and it's the *only* way new LOOT is ever created after launch. | | [**The Floor**](/the-heist-docs/how-it-works/the-floor.md) | A pool of WETH that backs LOOT's cash-out value. Its per-token value only ever goes up, never down. | | [**Redeeming**](/the-heist-docs/how-it-works/the-floor.md) | Trading in LOOT for your fair share of the Floor. Anyone can do this, any time, free, no waiting. | | [**The Hideout**](/the-heist-docs/how-it-works/the-hideout.md) | Where MERRY gets staked. Stakers earn a share of every new LOOT batch, plus WETH payouts. | | [**Heat**](/the-heist-docs/how-it-works/the-hideout.md) | A loyalty bonus that grows the longer your stake stays active without interruption, up to 1.5×. It shifts rewards toward patient stakers — it never creates new supply out of thin air. | | [**Claim tax**](/the-heist-docs/how-it-works/the-hideout.md) | The cost of cashing in a fresh LOOT batch right away: 25%, shrinking to 0% over 5 days. That tax is destroyed outright — it raises the Floor for everyone, it doesn't go to anyone's wallet. | | [**Claim-to-LP**](/the-heist-docs/how-it-works/the-hideout.md) | A third option for a fresh batch: instead of taking the LOOT to market, pair it with WETH and lock it straight into the protocol's own liquidity. No tax, and it earns fees the whole time it's locked. | | **LP share token** | Your receipt for depositing into a liquidity pool (e.g. `vLOOT-WETH`). You get one automatically when you deposit — see [Protocol-Owned Liquidity](/the-heist-docs/how-it-works/protocol-owned-liquidity.md) for where to do that, and [Gauge Farms](/the-heist-docs/how-it-works/gauge-farms-and-voting.md) for what to do with it next. | | [**Protocol-Owned Liquidity**](/the-heist-docs/how-it-works/protocol-owned-liquidity.md) | Liquidity the protocol owns outright and permanently, funded automatically by a slice of every trade — not borrowed from outside providers who could leave at any time. | | [**Gauge Farms**](/the-heist-docs/how-it-works/gauge-farms-and-voting.md) | Where you stake an LP share token (see above) to earn MERRY. | | [**Gauge voting**](/the-heist-docs/how-it-works/gauge-farms-and-voting.md) | A weekly vote, open to anyone staked in the Hideout, that decides how MERRY rewards get split across pools. | | [**The Treasury**](/the-heist-docs/how-it-works/the-treasury.md) | Collects protocol revenue and splits it 60% to Hideout payouts / 40% to the Floor, plus funds a small, capped, fully public operating budget. | | [**Genesis**](/the-heist-docs/how-it-works/genesis.md) | The one-time, 72-hour launch window where early depositors get a streamed share of LOOT, with longer lock-ups earning more. | Ready to go deeper? Start with [Protocol Architecture](/the-heist-docs/architecture/protocol-architecture.md) for the full map, or jump straight to [Genesis](/the-heist-docs/how-it-works/genesis.md) to see where the system begins. --- # Agent Instructions This documentation is published with GitBook. GitBook is the documentation platform designed so that both humans and AI agents can read, navigate, and reason over technical content effectively. Learn more at gitbook.com. ## Querying This Documentation If you need additional information that is not directly available in this page, you can query the documentation dynamically by asking a question. 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