The Dictionary
Explore 247+ clear, technical, and objective definitions defining the decentralized future.
Recently Defined
On-Chain Data
On-chain data is information recorded directly on a blockchain. This includes transactions, wallet activity, token transfers, smart contract interactions, fees, and other measurable blockchain events.
Onchain Reputation
Onchain reputation is a verifiable record of an address's behavior — transaction history, contracts interacted with, tokens held, attestations received — used as a basis for trust, access, or scoring without revealing the underlying identity.
One-Cancels-the-Other (OCO) Order
A paired conditional order where executing one automatically cancels the other (typically a take-profit limit + stop-loss).
Open Interest (OI)
Open Interest (OI) is the total number of active (unsettled) derivative contracts, such as futures or options, in the market.
Order Book
A real-time list of all buy (bids) and sell (asks) orders for a trading pair, showing market depth at different price levels.
Order History
Record of every order you have placed (filled, canceled, or pending).
Ordinals (Bitcoin)
Ordinals is a protocol that allows arbitrary data — images, text, code — to be inscribed directly onto individual satoshis (the smallest unit of Bitcoin), turning each satoshi into a unique, identifiable, transferable digital artifact. The result is Bitcoin-native NFTs.
P2P Trading
Peer-to-peer marketplace on the CEX where users buy/sell crypto directly with each other using local bank transfers or cash methods.
Paper Trading (Demo / Testnet Trading)
Simulated trading on an exchange using virtual (fake) funds that mirror real market prices, order books, and conditions — without risking any real money.
Passkey Wallet
A passkey wallet is a crypto wallet that uses platform-level passkeys — biometric or device-bound credentials standardized through WebAuthn — instead of a traditional seed phrase or password. Authorization happens through Face ID, fingerprint, or a hardware security module.
Perpetual DEX
A perpetual DEX is a decentralized exchange specialized in trading perpetual futures contracts. It enables on-chain leverage trading without a centralized custodian or order book operator, typically using an automated market maker, oracle pricing, or an on-chain order book.
Perpetual Futures
Perpetual Futures (Perps) Derivative contracts that track the price of an underlying asset (e.g., BTC) with no expiration date, settled in cash or stablecoins.
Phishing
Phishing is a scam where attackers trick users into revealing private information or signing harmful transactions.
Points Farming
Points farming is the practice of accumulating off-chain "points" issued by a protocol that the protocol may later use to determine token airdrop allocations. Points are not tokens, do not have a guaranteed conversion rate, and are entirely at the issuer's discretion.
Portfolio
The overall view of all your holdings, balances, and current values across spot, futures, and other wallets.
Position Mode (Hedge vs. One-Way)
Account setting determining if you can hold both long and short positions simultaneously (Hedge) or only one direction (One-Way).
Position Size
Position size is the amount of capital allocated to a single trade.
Post-Only Order
A limit order flag that ensures the order only adds liquidity to the order book (acts as maker) and is canceled/rejected if it would immediately match/take existing orders.
Priority Fee
A priority fee is an optional additional transaction fee that a user can pay to improve a transaction’s chance of being processed quickly during network congestion. On Solana, priority fees are associated with the computational resources requested by a transaction.
Private Key
A private key is a secret cryptographic code that proves ownership of crypto assets and allows the holder to authorize transactions.