Long/Short

Directional positions in perpetuals or spot; long benefits from price increase, short from decrease.

Liquidation

Forced sale of collateral when a loan’s health factor falls below thresholds.

Limit Order

Order to buy or sell at a specified price or better; implemented in DEXes via RFQs or AMM overlays.

Liveness

Property that a system continues to make progress, e.g., blocks keep finalizing.