LP capital currently in range and earning fees.

A router that splits a swap or yield path across many pools to improve the net price.

A free token distribution to wallets that used a product, held an NFT, or met some other rule.

Using many wallets or wash activity to qualify for a hoped-for token drop.

Algorithmic market operations. Protocol-owned strategies that defend a peg or manage liquidity, used by Frax and others.

Annual percentage rate. Simple yearly return without compounding.

Annual percentage yield. Yearly return assuming rewards are compounded.

A pool formula that prices trades from balances instead of a human order book. Constant-product is the classic form.

Extra slashing conditions an EigenLayer operator accepts when opting into an AVS.

Placing a transaction immediately after another to capture leftover arb.

A buyer of last resort (auction, fund, or AMM) when collateral sales fail to cover debt.

Debt that remains after collateral is sold, socialized onto a protocol, insurance fund, or other users.

A contract that mints and burns a token along a price function as people buy and sell against it.

Taking a loan against locked collateral. Interest accrues until you repay or get liquidated.

A payment to veToken voters to point gauges at a pool. Legal in many DeFi designs, still a conflict of interest.

Assets locked to back a loan or a minted stablecoin. If the value falls too far, the position is liquidated.

A vault that locks collateral and mints a stablecoin or debt token against it, as Maker-style systems do.

Letting LPs pick a price range (Uniswap v3 style) so capital sits where trading actually happens.

The x * y = k rule used by Uniswap v2-style pools. Larger trades pay a steeper price.

Permission for another address to borrow against borrowing capacity provided by a collateralized account, subject to the lending protocol's rules.

A decentralized autonomous organization. On-chain votes steer a treasury and parameters, with very uneven real-world standing.

A protocol that lets users trade tokens directly from wallets via smart contracts, typically using liquidity pools.

Decentralized finance. Lending, trading, and derivatives run by contracts instead of a single broker.

The Dai or Sky savings rate, a protocol yield paid to people who lock the stablecoin in a savings contract.

The swap fee a pool charges, such as 0.05 percent or 1 percent, guiding where flow goes.

Settling many pool interactions as one net balance change at the end of a transaction.

An uncollateralized loan that must be borrowed and repaid inside the same transaction, used for arb and liquidations.

Seeing a pending transaction and inserting your own ahead of it for profit.

Providing liquidity from price zero to infinity, the Uniswap v2-style position.

A voting target that directs emissions to a specific pool.

A log-average price used by Uniswap v3 oracles, more robust to a single-tick spike.

Using borrowed or accumulated voting power to pass a malicious parameter or treasury drain.

A token that votes on protocol parameters, treasuries, or upgrades. Voting power is not the same as legal control.

An emergency key that can pause a protocol. Useful in hacks, also a trust assumption.

A discount applied to collateral value so a protocol or desk has a buffer against a sudden print.

Aave-style ratio of collateral value (haircut) to debt. Below 1, the position can be liquidated.

The value shortfall of a liquidity position relative to holding its original assets when relative prices change; the shortfall can exist before withdrawal and may persist.

A signed goal (swap X for at least Y) that a solver fills, instead of the user picking every pool hop.

Signing what you want, not the path, and letting solvers compete to fill it.

The curve a lending market uses to set borrow and supply APYs from utilization.

Adding and removing LP in the same block around a large swap to harvest fees without inventory risk.

Adding liquidity for one swap's block to capture fees, then withdrawing.

A market where depositors earn interest and borrowers post collateral to take a loan.

Staking through a protocol that issues a receipt token (like stETH) so the position stays usable in DeFi.

Additional collateral a liquidator may receive when repaying an unhealthy loan, intended to make liquidation economically worthwhile.

The contracts and keepers that seize under-collateralized loans and sell collateral to keep a protocol solvent.

The same asset split across chains and pools, worsening price and UX until aggregation improves.

Paying extra protocol tokens to people who deposit into a pool, used to bootstrap depth.

Points, lasting incentives, or real-yield sharing instead of purely inflationary emissions.

A smart-contract reserve of two or more tokens that enables automated trading and earns fees for depositors.

A receipt token that represents a share of a liquidity pool and the fees that share is owed.

A liquid restaking token, a receipt for deposits into EigenLayer or similar, such as eETH or ezETH.

A receipt token for staked assets, such as stETH, rETH, or mSOL.

Loan to value. Debt divided by collateral. DeFi liquidations fire when LTV exceeds a threshold.

Loss versus rebalancing. A precise way to measure LP underperformance against holding and hedging.

Maximal extractable value. Profit from choosing the order of transactions in a block, including arb and sandwiches.

Private relays, batch auctions, or intent solvers that reduce sandwich risk.

Oracle-extractable value. MEV that comes from being first to update a price and liquidate.

Lending pools that function like crypto-native money markets for stables and blue chips.

The node runners that a restaking or DVT protocol actually uses to produce duties.

A service that brings off-chain data (prices, scores, randomness) onto a chain in a form contracts can read.

A configured update interval that can trigger a price feed report even when the observed price has not crossed its deviation threshold.

Moving a spot or TWAP feed so a protocol misprices collateral or a liquidations fire wrongly.

A concentrated LP whose range no longer covers the price, so it earns no fees and sits in one asset.

A loan that requires collateral worth more than the debt, the usual DeFi design because on-chain credit scores are weak.

Off-chain scores that hint at a future airdrop. They are not tokens and can be changed or cancelled.

How much notional an AMM can trade before price moves a given percent.

A feed that tells contracts the reference price of an asset. Bad oracles cause bad liquidations.

When the protocol owns the LP position and keeps fees, reducing mercenary TVL churn.

Liquidity the protocol itself owns, so it keeps the trading fees instead of renting depth from mercenary LPs.

A Maker-style module that swaps a trusted stablecoin 1:1 for Dai/USDS to defend the peg.

Return paid from protocol fees or revenue rather than from inflationary token emissions.

Idle cash or ETH a protocol keeps so small exits do not wait for the chain withdrawal queue.

Reusing already-staked ETH or a receipt token to secure extra services, adding slashing risk for extra yield.

An airdrop that rewards past usage, announced after the qualifying activity already happened.

A DEX mode where professional market makers quote a size directly, often better for large tickets.

The contract that finds a path through pools and executes a swap in one call.

Breaking a trade across pools and hops to reduce impact.

A form of MEV that buys just before a victim swap and sells just after, extracting their slippage.

A design (Balancer v2, Uniswap v4) where many pools share one vault contract to save gas and settle net.

The worst price you accept before a swap reverts. Too tight fails. Too loose invites sandwiches.

Apps that turn social graphs, posts, or attention into tradable tokens or keys.

The interest a Maker-style vault pays to keep debt open, the other side of the savings rate.

Locking tokens to help secure a proof-of-stake network or a protocol and earning rewards for that lock.

A protocol rainy-day fund built from fees, used before socializing losses.

A discrete price step in a concentrated-liquidity pool.

The granularity of concentrated-liquidity prices. Wider spacing means coarser ranges.

A delay between a governance decision and its on-chain execution, giving users time to exit.

The total USD value of assets deposited in a DeFi protocol or chain.

Tokens and stables held by a protocol or DAO to fund development, incentives, or runway.