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LEO$8.99+0.26%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 testLP 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.
Definitions offer a starting point. Detailed readings include the sources behind the explanation.