> ## Documentation Index
> Fetch the complete documentation index at: https://docs.liquidramp.com/llms.txt
> Use this file to discover all available pages before exploring further.

# Glossary

> Definitions of Liquidramp terms used in the partner API.

### Customer reference

Your identifier for the end user, passed as `customer.reference` on order creation.

### Encryption key (`enc_*`)

Secret used to HMAC-sign `sk_*` requests and verify outbound webhooks. Never sent as a Bearer token.

### Escrow

On-chain holding of crypto during offramp and swap until the other leg completes. See [Escrow](/concepts/escrow).

### Exchange rate / pricing

Conversion between `from` and `to` legs, returned as `pricing.exchange_rate`.

### KYB (Know Your Business)

Partner verification in the portal, required before quote and order writes.

### KYC (Know Your Customer)

Identity verification you perform on your end users. Required for onramp and offramp (preferably via a KYC provider). Not required for swap. Partner KYB does not replace customer KYC.

### Leg (`from` / `to`)

The two sides of a trade. Each leg uses `currency` and `amount`; crypto legs also include `network`. Order type is inferred from the legs.

### Liquidity provider

An independent party that supplies inventory and fulfils routed orders. You do not call providers directly.

### Merchant reference

Your reconciliation key on an order (`merchant_reference`). Use a unique value per intended order.

### Order reference

Liquidramp order ID, typically `ORD-…`. Use this on get, cancel, and fulfill.

### Pay-in (`payin`)

Deposit instructions for the customer — a bank account (onramp) or crypto address (offramp/swap).

### Payout (`payout`)

How funds were delivered. Omitted unless you pass `?include=payout`.

### Public key (`pk_*`)

Credential for read requests (reference data, rate preview). HMAC is not required. The same reads can be made with `sk_*` from your backend.

### Quote

A reserved rate (`quote_id`) used when creating an order. Expires after `ttl_in_seconds`.

### Secret key (`sk_*`)

Backend-only credential for reads and writes. Every `sk_*` request requires HMAC signing with `enc_*`.

### Webhook

Signed HTTP POST to your server when an order event occurs. Configure the URL in the portal.