The words our episodes use, each explained in one sentence.
Collateral is what someone locks up to back what they owe or have minted; if its value stops covering that, it goes to whoever pays off the debt.
A token's decimals say where the decimal point goes in its on-chain amounts; get them wrong and every price is off by a factor of ten or more.
A DEX, or decentralised exchange, lets people swap tokens straight from their wallets.
A DRep, short for delegated representative, is someone ADA holders choose to vote on governance for them.
An epoch is Cardano's five-day cycle; rewards and votes are counted epoch by epoch.
A token's float is the part of its supply that is actually in circulation, not locked up or held back.
A funding rate is what one side of a perpetual pays the other to keep its position open.
A governance action is a formal proposal written on-chain and put to a vote.
Liquidation means a position is closed automatically because its collateral no longer covers what it owes.
A liquidity pool is a pot of two tokens that traders swap against; the people who fill it earn the trading fees.
An NFT is a token minted as one of a kind.
An oracle is a service that writes outside data, such as prices, onto the chain.
An output is one chunk of ADA that a transaction leaves at an address; the next transaction to spend it uses it up whole.
A perpetual is a contract that tracks a price with no expiry date.
Pool depth is how much is sitting in a token's trading pools, which sets how much can be sold before the price drops.
A protocol parameter is one of Cardano's adjustable settings, changed by governance vote.
The reserve is the ADA not yet released into circulation, and it pays most staking rewards.
A smart contract is a program stored on the chain that enforces its own rules.
A stablecoin is a token built to stay worth one dollar.
A stake pool is one or more nodes that produce blocks on behalf of the ADA delegated to it.
TVL, or total value locked, is the dollar value of everything deposited in a protocol.
Utilisation is the share of a lending pool that has been borrowed.
A UTxO, or unspent transaction output, is one separate chunk of ADA or tokens sitting at an address.
A wrapped token stands for a coin locked on another chain.
Not financial advice; nothing here is a recommendation to buy, sell or hold anything. The Cardano Record sells data built from this same pipeline; that never decides what airs or how it is reported. Not affiliated with any project covered.