# Glossary

As the first product on the market that aims to protect users, we need to pay attention to some new glossary.

| Term           | Description                                                                                                                                                                                                          |
| -------------- | -------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- |
| P-Market       | <ul><li>The current market price of the trading pair.</li><li> Prices are shown with real-time data</li></ul>                                                                                                        |
| P-Claim        | <ul><li>Activation price for insurance payback.</li><li>When hitting P-Claim, the system activates the insurance payment</li></ul>                                                                                   |
| P-Expire       | <ul><li>Insurance liquidation price depends on P-Claim and Period</li><li>When hitting P-Expire, the contract is liquidated immediately</li></ul><p><br></p>                                                         |
| P-Refund       | <p><br></p><ul><li>The price belongs to the set of conditions for a margin refund.</li><li>When the P-Market is between the P-Refund and the P-Claim at the expiration time, the user's margin is refunded</li></ul> |
| P-Close        | <ul><li>Contract closing price.</li><li>Be determined at the time the contract changes from being valid to another status</li></ul>                                                                                  |
| P-Open         | <ul><li>Contract opening price</li><li>Be determined when the contract is successfully margined</li></ul>                                                                                                            |
| P-Active       | <ul><li>Conditional contract activation price</li></ul>                                                                                                                                                              |
| Insurance Plan | <ul><li>Choose an insurance plan that suits the insured value of your assets</li><li>The unit is either USDT or VNST</li></ul>                                                                                       |
| Q-Claim        | <ul><li>Amount of insurance payment including margin amount</li><li>Q-Claim is automatically transferred to the user's wallet after hitting P-Claim</li></ul>                                                        |
| R-Claim        | <ul><li>Quantity of cover payout when the market price hits P-Claim</li></ul>                                                                                                                                        |
| Q-Refund       | <ul><li>Refund amount</li><li>Q-Refund is automatically transferred to the user's wallet when the refund conditions are met and the refund is made early</li></ul>                                                   |
| Ký Quỹ         | <ul><li>The amount that the user spends to open the insurance contract</li></ul>                                                                                                                                     |
| Period         | <ul><li>Period of the insurance contract</li></ul>                                                                                                                                                                   |
| T- Start       | <ul><li>Successful contract activation time</li></ul>                                                                                                                                                                |
| T-Expire       | <ul><li>Contract expiration time</li></ul>                                                                                                                                                                           |
| Bull           | <ul><li>Supporting when the market rises</li></ul>                                                                                                                                                                   |
| Bear           | <ul><li>Supporting when the market falls</li></ul>                                                                                                                                                                   |