đ Words of the Day - Crypto Glossary #3
- DeFi (Decentralized Finance): A set of financial services (loans, savings, tradingâŠ) accessible without intermediaries, via blockchain.
- Smart Contract: An autonomous program that automatically executes pre-set conditions on a blockchain (e.g., Ethereum).
- DEX (Decentralized Exchange): A crypto exchange platform without a centralized intermediary. Example: Uniswap, PancakeSwap.
- TVL (Total Value Locked): The total value in cryptocurrencies deposited in a DeFi protocol. It is an indicator of trust and adoption.
- Rug Pull: A scam where the developers of a project disappear with the investors' funds.
- Burn: Intentional destruction of tokens to reduce supply and potentially increase the value of the remaining tokens.
- DAO (Decentralized Autonomous Organization): An organization collectively managed by its members through rules coded on a blockchain. No central management.
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