BTC$85,972+2.64%
ETH$2,741+1.21%
USDT$0.9997-0.00%
BNB$788.01+0.97%
XRP$1.53+3.99%
USDC$1.00+0.00%
SOL$117.07+0.98%
TRX$0.3485+1.38%TRX$0.3487+1.31%
ZEC$1,505-0.19%
FIGR_HELOC$1.01—
STETH$2,742+1.30%
HYPE$95.14+0.04%
XMR$570.66-3.58%
WBT$86.38+1.28%
WBTC$85,918+2.55%
LINK$12.99+1.33%
WSTETH$3,399+2.41%
RAIN$0.0136-3.47%
WBETH$3,032+1.22%
USDS$1.000.00%
WETH$2,736+2.70%
ADA$0.2482+4.77%
LEO$8.99+0.72%From your first block to the finer details. Explore the ideas, people, and systems behind the market—one useful explanation at a time.
Follow a transaction from a key to a shared ledger.
Begin with BlockchainExplore contracts, liquidity, borrowing and the risks between them.
Begin with Smart contractUnderstand what a price, valuation or sentiment indicator can tell you.
Begin with Market capitalizationLearn custody, permissions and how to assess what you sign.
Begin with Hardware walletConnect the original ideas to the incidents that changed the industry.
Begin with A Cypherpunk's ManifestoSeparate technical standards, issuer claims and legal frameworks.
Begin with Howey testA market where depositors earn interest and borrowers post collateral to take a loan.
Additional collateral a liquidator may receive when repaying an unhealthy loan, intended to make liquidation economically worthwhile.
A smart-contract reserve of two or more tokens that enables automated trading and earns fees for depositors.
Loan to value. Debt divided by collateral. DeFi liquidations fire when LTV exceeds a threshold.
Definitions offer a starting point. Detailed readings include the sources behind the explanation.