⢠DeFi (Decentralized Finance): Financial system that operates without intermediaries, such as banks, using smart contracts on blockchain.
⢠Rug Pull: Type of scam where the developers of a crypto project abandon the project and take the investors' funds.
⢠Gas Fees: Fees paid to miners or validators for processing transactions on a blockchain network.
⢠DAO (Decentralized Autonomous Organization): Organizational structure governed by the community of users and based on smart contracts.
⢠Whale: An individual or entity that owns a large amount of cryptocurrencies and can influence the market with their movements.
⢠Stablecoin: Cryptocurrency designed to maintain a stable value, usually pegged to a fiat currency such as the dollar.
⢠Layer 2: Scalability solution that operates on a main blockchain (Layer 1) to improve speed and reduce transaction costs (e.g. zkSync, Optimism).
⢠Liquidity Pool: Reserve of tokens locked in a smart contract that facilitates trading on DeFi platforms without intermediaries, providing liquidity.
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