# Domain objects

**AMM position:** A ERC-721 position in the underlying AMM like Uniswap v3, velodrome, etc.

**Managed position:** Represents a Position in the Core. This is a position that is automatically managed by Mellow-ALM-toolkit

**LP token:** ERC-20 token that represent a share of Managed Position

**Strategy:** A program that determines the target state of Managed Position depending on market conditions

**Rebalancer:** An external actor that facilitates bringing Managed position from current state to target state according to Strategy

**Owner:** An external actor who opens, closes and owns Managed position.

**Position Manager**: an external actor who handles parameters of the corresponding position parameters etc.

**Liquidity provider (LP):** An external actor who owns a part of Managed position by contributing liquidity into the underlying Positions


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