The Dictionary
Explore 227+ clear, technical, and objective definitions defining the decentralized future.
Recently Defined
Layer 1
A Layer 1 is a base blockchain network that processes and secures transactions directly.
Layer 2
A Layer 2 is a scaling network built on top of a Layer 1 blockchain.
Leverage Trading (Margin Trading)
Borrowing funds from an exchange to amplify position size (e.g., 10x leverage turns $1,000 into $10,000 exposure).
Limit Order
An order to buy or sell only at a specific price (or better) that you set.
Limit Price
A limit price is the maximum price a buyer is willing to pay or the minimum price a seller is willing to accept when placing a limit order on an exchange.
Liquid Restaking Token (LRT)
A Liquid Restaking Token (LRT) is a token that represents a position in a restaking protocol — like EigenLayer — where staked ETH (or LSTs) is re-pledged to secure additional services beyond Ethereum itself. Holding the LRT is equivalent to holding restaked exposure that remains liquid and transferable.
Liquid Staking Token (LST)
A Liquid Staking Token (LST) is a tokenized representation of staked assets — most commonly ETH — that remains transferable and usable across DeFi while the underlying stake continues to earn validator rewards. Examples include stETH, rETH, and similar tokens on other proof-of-stake chains.
Liquidity
Ease of buying/selling an asset without significantly moving its price (high liquidity = tight bid-ask spreads and fast fills).
Liquidity Pool
A liquidity pool is a collection of crypto assets locked in a smart contract that allows users to trade tokens on decentralized exchanges without relying on a traditional order book.
Mainnet
A mainnet is the live version of a blockchain where real transactions and real assets are used.
Maker vs Taker
Maker adds liquidity by placing limit orders that rest in the order book (not immediately filled). Taker removes liquidity by filling existing orders (often market orders).
Margin
Margin is the amount of capital a trader must deposit to open and maintain a leveraged position.
Market Cap
Market capitalization is the total value of a cryptocurrency (price × supply).
Market Order
An order to buy or sell immediately at the best available current market price.
Market Sentiment
Market sentiment is the overall mood or emotional tone of traders and investors toward the market or a specific asset. It reflects whether people feel bullish, bearish, fearful, optimistic, or uncertain.
Max Supply
Max supply is the total number of coins that will ever exist.
Memecoin Launchpad
A memecoin launchpad is a platform that lets anyone deploy and trade a new token within minutes, typically using a bonding curve to provide instant liquidity. Tokens "graduate" to a standard DEX once a threshold of capital is locked into the curve.
Mempool
The mempool is a temporary waiting area where pending blockchain transactions remain before being confirmed.
MEV
MEV (Maximal Extractable Value) is the profit that can be extracted by reordering, including, or excluding transactions in a block beyond standard block rewards and fees. It is the on-chain equivalent of high-frequency trading edge, plus features unique to public mempools and smart-contract composability.
MEV(Maximal Extractable Value)
MEV, or Maximal Extractable Value, is value that validators, miners, or bots can capture by changing the order of transactions in a block.