Glossary
DEX Aggregator
A router that splits a trade across several pools to find the best available price.
A DEX aggregator searches many pools and routes a single trade through whichever combination quotes best, splitting it across several sources when that is cheaper than any one pool.
For thin pairs it is the difference between a fill near the screen price and a bad fill, because the router is quoting against total available liquidity rather than one pool's reserves.
It adds a layer of contract in the middle of the transaction. Check the routers you use, and remember that the quoted price is only as good as the simulation: a swap can be profitable on paper and worse in execution.
Related terms
Airdrop
Free tokens distributed to wallet addresses, usually to reward early users of a protocol.
AMM
Automated Market Maker — a protocol that prices assets with a formula instead of an order book.
APR vs APY
APR is the yearly rate without compounding; APY includes compounding and is always higher.
ATH
All-Time High — the highest price an asset has ever traded at.
Bear Market
A prolonged decline, conventionally 20% or more from recent highs.
Bull Market
A prolonged rise driven by new demand, easy credit and rising confidence.