All terms
All termsAddressBlockBlock timeBlockchainConfirmationGasGweiHashMempoolNodePrivate keyPublic keySeed phraseTransactionWalletAll time high (ATH)Bear marketBull marketCandlestickCapitulationChart patternsDollar cost averaging (DCA)Funding rateLeverageLimit orderLiquidationLiquidityMarket capMarket orderOrder bookPosition sizingRisk managementSlippageSpreadSupport and resistanceTrendVolatilityVolumeWhaleAMMBridgeCEXDAODeFiDepegDEXFlash loanGovernance tokenImpermanent lossLiquidity poolLP tokenOraclePerpetual (perp)RestakingRWAStablecoinTVLWrapped tokenYield farmingAirdropAlphaApe inBagholderDegenDiamond handsFloor priceFOMOFUDGMHODLMaxiMeme coinMoonNFTNGMINormiePaper handsPFPRektShillSnapshotWAGMIAddress poisoningCold storageCustodyDue diligence (DYOR)Dusting attackExit scamFront runningHardware walletHoneypotHot walletMEVMultisigPhishingPump and dumpRug pullSandwich attackSelf custodySIM swapToken approvalTwo factor authenticationWallet drainerWash tradingAccount abstractionAppchainBlock explorerCirculating and total supplyConsensusData availabilityEVMFaucetFinalityForkFully diluted valuation (FDV)Gas warHalvingLayer 1Layer 2Layer 3MainnetMiningName serviceOptimistic rollupProof of stakeProof of workRollupShardingSidechainSlashingSmart contractStakingTestnetToken standardTokenomicsValidatorZero knowledge proofZK rollupArweave and the permawebComposabilityCross chain messagingdAppDecentralized identity (DID)DePINGameFi and play to earnIndexerInteroperabilityIPFSOnchain and offchainSession keysSmart accountSocialFiSoulbound tokenSybil resistanceToken gatingWeb2 vs Web3Web3
Definition
A decentralized exchange, where you trade directly from your own wallet.
A DEX matches trades through smart contracts rather than a company holding your funds. You connect a wallet, approve the trade, and the tokens move between your address and a pool.
You keep custody the whole time, which removes the exchange failure risk. In exchange you take on responsibility for approvals, slippage, gas and picking the right token contract.
In practice
Uniswap, Jupiter and PancakeSwap are DEXs. Your funds are never held by them.
Where to go next
CEXA centralized exchange, where a company holds your funds and matches trades.AMMAn automated market maker, which prices trades with a formula instead of an order book.Liquidity poolA shared pot of two tokens that traders swap against.SlippageThe gap between the price you expected and the price you got.Self custodyHolding your own keys, with everything that follows from that.
More defi terms
Want this explained out loud?
Some of these land faster in conversation than in writing. Sessions are one to one and you can ask anything, including the things that feel too obvious to ask.