An order that buys only at or below a chosen price, or sells only at or above it.
A limit order sets the worst permitted execution price, but cannot force someone else to trade at that price. It may wait in the book, fill partially or never fill. A limit that already crosses available prices can execute immediately; limit does not automatically mean delayed.
IN THE WILD
"My buy limit is 100. It can fill lower, but it can't pay 101 under those limit rules."
A transferable token representing a claim connected to assets in a liquid staking protocol.
An LST lets a staking claim circulate without moving the underlying stake each time. Some designs show rewards through a growing balance; others change the underlying value represented by each token. Its trading price is separate, so a DEX sale can differ from protocol redemption.
IN THE WILD
"My LST represents a staking claim, but the DEX quote is below its current redemption value."
The forced repayment or closing of a position that no longer meets its collateral or margin rules.
In a lending protocol, a liquidator may repay part of an unhealthy debt and receive collateral under the protocol's terms. Trading systems can instead close positions to satisfy margin rules. The exact process and costs vary, and it may affect only part of a position. It's the mechanism enforcing limits, not a normal voluntary withdrawal.
IN THE WILD
After a loan becomes eligible for liquidation, another participant repays part of its debt and receives some of the posted collateral.
The collateral parameter used to determine when a borrowing position becomes eligible for liquidation.
A liquidation threshold tells the protocol how much support a collateral asset contributes before a position becomes unsafe under its rules. Positions with several collateral assets may use a weighted calculation. It's separate from the maximum allowed LTV for new borrowing, and its value depends on the asset, configuration and protocol.
IN THE WILD
An asset’s borrowing limit and liquidation threshold are different percentages, so reaching the borrowing limit doesn’t automatically mean immediate liquidation.
The ability to trade an amount of an asset without a large delay or adverse price effect.
A liquid market has enough usable orders or pool assets to absorb trades with relatively little disruption. The amount matters: a market comfortable for a small swap may be thin for a large one. Reported trading volume is a different measurement and does not establish what liquidity is available now.
IN THE WILD
The small swap quote looks fine; increase the amount and the same thin pool suddenly shows much worse execution.
Distributing token incentives to participants who provide liquidity or perform qualifying protocol activities.
Liquidity mining rewards a qualifying activity with tokens, often to encourage participation in a protocol. Those incentives are separate from fees earned from actual use. A high reward rate can change when the program ends or the reward token's price moves, so it doesn't by itself show sustainable revenue from the underlying activity.
IN THE WILD
A pool pays trading fees and a temporary reward token incentive; you track the two separately as the liquidity-mining program approaches its end.
Assets held under a protocol’s rules to support activities such as swaps or lending.
A pool makes assets available for people to trade or borrow, depending on the protocol. Depositors usually receive a claim on their share or position, but its value and withdrawal conditions follow the pool's rules. Before treating a deposit like a savings balance, check what can change its asset mix and availability.
IN THE WILD
You deposit two tokens into a swap pool and later find that your position contains a different mix because traders have used the pool.
A participant who supplies assets for a protocol’s trading, lending or other liquidity needs.
Liquidity providers make the assets available that others use, and may earn fees, interest or incentives in return. The exact arrangement matters: a trading position can change its asset mix, while a lending deposit has different risks and withdrawal conditions. The displayed reward isn't the whole story of what happens to the position.
IN THE WILD
You earn part of a pool’s trading fees as an LP, then compare the position’s value with simply holding the original tokens.
A loan’s value relative to its collateral value, often expressed as a percentage.
LTV helps you see how much of a collateral position has been borrowed against. Protocols also use a maximum LTV parameter to limit new borrowing. That borrowing cap isn't necessarily the liquidation threshold, so don't use one number for both decisions. Changes in collateral prices or debt can change your actual ratio.
IN THE WILD
With $400 of debt against $1,000 of collateral, your current LTV is 40%; you check the protocol’s separate borrowing and liquidation limits.
An LP token acts like a receipt for the position, not a separate guarantee of its value. Its claim depends on the pool's rules and underlying assets. Some pools use interchangeable share tokens, while others represent individual positions differently, including NFTs. Transferring the receipt can transfer the corresponding claim too.
IN THE WILD
After depositing into a Uniswap v2 pool, your wallet receives LP tokens that represent your share of that pool.
The daily pick rotates automatically. Our initial collection was published on October 9, 2026. New words join on their publication date. Every concept includes a reference.