Glossary
Slippage
The gap between the price you expected and the price your trade actually filled at.
Slippage is the difference between the price you expected and the price your trade actually filled at. It comes from thin liquidity, fast-moving markets, or other trades landing before yours.
Setting a tight slippage tolerance protects you from bad fills but causes failed transactions. Setting it loose is how sandwich bots take your money. On thin pairs, check depth before sizing.
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.