Terminologies & Acronyms

To avoid any confusion, we'll break down a few important terms and acronyms we'll be tossing around in this GitBook. We're always open to adding more based on your feedback, so don't be shy to ask.

DAO (Decentralized Autonomous Organization)

  • Imagine a group making decisions and managing things collectively, without a single leader. Decisions are made through proposals and token holder voting, aiming for transparency and community involvement.

DNS (Domain Name System)

  • Think of it as the phonebook of the internet, translating website names (like <something.io.ontheinternet>) into the numerical addresses computers understand and vice versa. In the crypto world, decentralized versions of DNS translate long, confusing wallet addresses used in computer coding into short nicknames or URLs that are easier to remember.

LP (Liquidity Pool)

  • Like a giant pot of money in a crypto exchange, where people contribute their crypto assets to earn fees from others swapping between them. It helps ensure smooth trading and price discovery. Sometimes, the same acronym can be used for Liquidity Provider - someone who adds funds to a liquidity pool - which is not utilized in this GitBook.

LP token

  • A token representing a share of a liquidity pool. By providing liquidity, users receive LP tokens, which can be redeemed for their share of the pool's assets plus accumulated fees.

NFT (Non-Fungible Token)

  • Unique digital certificates representing ownership of items like artwork, collectibles, or in-game items. Think of them as one-of-a-kind trading cards stored securely on a blockchain.

TBA, TBU, TBD (To Be Announced, To Be Updated, To Be Determined)

  • Placeholders used when specific information is unavailable or subject to change. They indicate something is coming soon but details are still being finalized.

TLD (Top-Level Domain)

  • The last part of a website address (like .com, .org, or .io). In crypto, there are efforts to create new TLDs specifically for blockchain-based websites or applications.

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