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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 testPlacing 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.
Definitions offer a starting point. Detailed readings include the sources behind the explanation.