Key Definitions

• API Key: An API key is an alphanumeric string that is used to identify and authenticate an application or user to interact with API/WS endpoints. This is required for almost ALL endpoints covered in this documentation except /market REST and /ws/market WS endpoints. This key is NOT used for signing; that is done using your Private/Secret key.

• Private/Secret Key: A private key is a cryptographic code that's used to sign transactions and to prove ownership of your Hibachi Account. NOTE: This is NOT your crypto wallet’s private key. You will ONLY use this key to generate signatures for a subset of endpoints you are interacting with.

• Trustless Account: A trustless account is a Hibachi Account you created via directly connecting to your crypto wallet. You will generate a signature with your ECDSA Private Key using the ECDSA method.

• Exchange Managed Account: An exchange managed account is a Hibachi Account you created via email or social login. You will generate a signature with HMAC Secret Key using the HMAC method.

• Asset Quantities: All quantities on Hibachi are represented internally as 64-bit numbers. In order to enable trading fractional quantities (e.g. 0.01 BTC), each asset on Hibachi has a specific fixed number of decimals.

  • Example

    • BTC may be represented with 10 decimals

    • This means 1 BTC is stored as 1 x 10^10 = 10,000,000,000 quantity on the exchange

  • When making trades, querying positions and similar, Hibachi will still expose and expect numbers as "real" float strings (e.g. "quantity: 1.0" for 1 BTC).

  • This way, users don't need to constantly convert numbers in order to be able to reason about them. However, this quantity notation is important when:

    • Signing any operations (trades, withdrawals, etc) since we want the traders to specify exactly what they want to trade and not leave room for misinterpretations.

    • Interacting with the Hibachi smart contracts

  • The number of decimals is exposed for each contract in the /market/exchange-info endpoint response under the underlyingDecimals field.

• Asset Prices: Like quantities, asset prices are also 64-bit numbers that conform to decimals. Prices are used when converting between underlying and the settlement token in a market.

  • For example, on BTC/USDT-P a price of 100,000 may be used in a limit order to indicate that somebody is willing to sell BTC for 100,000 USDT per BTC. Price is always denoted in units of the settlementAsset.

  • Since both the underlying and settlement assets have unique quantity decimals, the price is stored in the difference between both decimals (settlementDecimals - underlyingDecimals).

  • In order to support higher resolution of prices, an additional price multiplier of 2^32 is used to represent prices as fixed-point decimals with 32 bits after the decimal point.