Glossary of Terms
AMA- Ask Me Anything - often a form of live interview that includes questions from the community
APR - stands for annual percentage rate and does not take compound interest into account (as if you claim your reward and do not reinvest it)
APY - stands for annual percentage yield and takes into account compound interest (your rewards will be added to your stake to grow faster)
BSC - Binance Smart Chain a blockchain network built for running smart contract-based applications
Contract (or Contract Address) - This refers to the address location of the actual token contract that manages the logic for the tokens. It does not refer to the address that holds your own personal tokens.
Farming Tools - websites where you can connect your wallet and view your LP tokens, yields, projected yields and more
FP (Free Position) - also known as TP (or Take Profit), a common initial goal of many investors is to recover their initial investment quickly and the balance of the investment becomes "house money" or "free money".
FTM (Fantom) - Fantom Opera network, an alternative to BSC
IL - Impermanent Loss - Impermanent loss is a loss that funds are exposed to when they are in a liquidity pool
LP - Liquidity Pool/Provider - A liquidity pool is basically funds thrown together in a big digital pile, typically offered in pairs (Charge-BUSD) provided in equal value amounts initially, LP tokens are given in exchange for these pairs and they can earn a return in farms
Money Legos (Bloomify) - A concept representing building blocks for programmable money, performed by smart contracts and executed on a blockchain. Money legos is a phrase for concepts that connect components together (composability). In a way, it is a “middleware” that binds various protocols through an interoperability layer.
NFA - Not Financial Advice
PCS - Pancakeswap https://pancakeswap.finance/ DEX on BSC
Seed phrase - the access code to your crypto wallet - NEVER provide this to anyone no matter what
Slippage - Slippage refers to the difference between the expected price of a trade and the price at which the trade is executed
Wallet - Crypto wallets store your private keys, keeping your crypto safe and accessible. They also allow you to send, receive, and spend cryptocurrencies.
(Yield) Farm - Yield farming is a means of earning interest on your cryptocurrency, similar to how you'd earn interest on any money in your savings account.