Access Control
Access control defines which accounts or roles can perform sensitive actions, helping reduce the risk of unauthorized changes or withdrawals.
View related themeGlossary
Crypto, finance, and AI terms.
Review the vocabulary used across daily boards. Each entry includes a short definition, its puzzle context, and related terms from the same theme.
189Published terms
54Learning themes
DailyNew puzzle format
Address Clustering
Address clustering is grouping blockchain addresses that are likely controlled by the same entity using heuristics, transaction patterns, or off-chain labels.
View related themeAddress Labeling
Address labeling is associating blockchain addresses with entities, services, or behaviors using disclosures, heuristics, and curated intelligence to support monitoring and investigations.
View related themeAgent Loop
An agent loop is an iterative cycle where a system observes context, selects an action, executes it, and updates its plan.
View related themeAlgorithmic Stablecoin
An algorithmic stablecoin targets a stable value primarily through on-chain rules and incentives rather than direct asset backing.
View related themeAMM
An AMM is a decentralized exchange model that uses liquidity pools and formulas instead of a traditional order book.
View related themeAnomaly Detection
Anomaly detection is identifying activity that deviates from expected patterns, such as sudden flow spikes or atypical contract interactions, to trigger investigation or safeguards.
View related themeAPY
APY estimates annualized return after compounding, though crypto yields can change quickly.
View related themeAttestation
An attestation is a third-party report about assets backing an issuer or product at a point in time.
View related themeAudit
A smart contract audit is a structured security review that looks for bugs, unsafe assumptions, and potential exploits before deployment.
View related themeAuthorized Participant
An authorized participant is a financial institution allowed to exchange baskets of assets or cash with an ETF issuer to create or redeem ETF shares.
View related themeBad Debt
Bad debt is the unpaid liability that remains after collateral liquidation fails to cover what a borrower owes, creating a loss for the system or its backstop.
View related themeBasis Risk
Basis risk is the risk that two related prices (such as spot and futures, or two similar assets) move differently, reducing the effectiveness of hedges.
View related themeBid-Ask Spread
The bid-ask spread is the difference between the highest bid and lowest ask.
View related themeBlock Reward
A block reward is the new coin issuance and fee revenue paid to a miner or validator for adding a block.
View related themeBorrow APY
Borrow APY is the estimated yearly cost paid by a borrower in a lending market.
View related themeBridge
A bridge moves assets or messages between blockchains, usually with added smart-contract risk.
View related themeBridge Inflow
Bridge inflow measures assets moving into a chain or protocol through a cross-chain bridge.
View related themeBug Bounty
A bug bounty is a program that rewards security researchers for responsibly reporting vulnerabilities so they can be fixed before being exploited.
View related themeBurn
Burning removes tokens from circulation, often when users redeem a stablecoin for collateral or cash.
View related themeCall Option
A call option gives the holder the right, but not the obligation, to buy an asset at a set price.
View related themeCircuit Breaker
A circuit breaker is a rule that automatically disables or limits actions when conditions look abnormal, aiming to prevent cascading failures.
View related themeCold Wallet
A cold wallet stores private keys offline to reduce exposure to online attacks.
View related themeCollateral
Collateral is an asset pledged to back a loan, position, or stablecoin issuance, reducing counterparty risk.
View related themeCollateral Factor
A collateral factor is the percentage of an asset's value that a lending protocol allows users to borrow against, reflecting liquidity and risk assumptions.
View related themeCollateral Ratio
Collateral ratio compares the value of pledged assets with the value of the debt they secure.
View related themeCompute Marketplace
A compute marketplace connects workload demand with available CPUs, GPUs, or specialized hardware supplied by different providers.
View related themeContext Window
A context window is the amount of input and generated text a model can consider at one time when producing a response.
View related themeContract Approval
A contract approval lets a smart contract move a user's tokens up to an allowed amount.
View related themeCounterparty Exposure
Counterparty exposure is the risk that a trading partner, lender, custodian, or service provider fails to meet its obligations, causing losses or delays.
View related themeCPI
CPI (consumer price index) is a common measure of inflation based on a basket of household goods and services.
View related themeCreation Unit
A creation unit is a large block of ETF shares that can be created or redeemed through the fund's primary-market process, usually by specialized institutions.
View related themeData Availability
Data availability is the property that published data is accessible to participants so they can verify state transitions, proofs, or results over time.
View related themeData Availability Layer
A data availability layer is infrastructure that makes transaction or batch data widely accessible so participants can verify results and recover state when needed.
View related themeDecentralized GPU Network
A decentralized GPU network coordinates many independent compute providers so workloads can be matched with available hardware through marketplace or protocol rules.
View related themeDecentralized Inference
Decentralized inference is running model inference across multiple independent compute providers, potentially improving resilience and enabling market-based capacity allocation.
View related themeDepeg
A depeg happens when a stablecoin trades meaningfully away from its intended reference price.
View related themeDollar Liquidity
Dollar liquidity refers to how easily banks, funds, and firms can obtain U.S. dollar funding for settlement, financing, and cross-border obligations.
View related themeDrift Monitoring
Drift monitoring tracks whether data distributions or model outputs change over time in ways that could degrade performance or safety.
View related themeDuration
Duration measures how sensitive the price of a fixed-income asset is to changes in interest rates, and it is often used to manage rate risk.
View related themeEmergency Pause
An emergency pause is a mechanism that can temporarily halt certain protocol actions during incidents.
View related themeEval Harness
An eval harness is a repeatable test setup that measures an AI system's behavior on representative tasks, helping detect regressions and failures.
View related themeEval Suite
An eval suite is a structured set of tasks, datasets, and scoring rules used to measure whether a model or agent meets quality targets after prompts, tools, or models change.
View related themeEvaluation Suite
An evaluation suite is a collection of repeatable tests and metrics used to measure a model or agent system across tasks, helping detect regressions and guide iteration.
View related themeEvent Logs
Event logs are records emitted by smart contracts that make it easier to track contract activity (like swaps or transfers) without scanning all internal state changes.
View related themeExpiry
Expiry is the date or time after which an option contract no longer exists.
View related themeFed Funds Rate
The federal funds rate is a U.S. benchmark policy rate that influences short-term borrowing costs across markets.
View related themeFOMC
The FOMC is the Federal Open Market Committee, which sets key U.S. monetary policy decisions.
View related themeFunction Calling
Function calling is a pattern where a model outputs a structured request to invoke a tool or API, separating reasoning from action execution and enabling more reliable integrations.
View related themeFunding Rate
The funding rate is a recurring payment between long and short perpetual futures traders.
View related themeGas Fee
A gas fee is the network cost paid to execute a blockchain transaction.
View related themeGas Limit
A gas limit caps how much computation a transaction or block can consume.
View related themeGPU Benchmark
A GPU benchmark is a standardized test or metric used to compare graphics processor performance for training, inference, rendering, or other workloads.
View related themeGuardrail
A guardrail is a policy, filter, prompt rule, or system check that helps keep model outputs within intended safety and quality boundaries.
View related themeGuardrails
Guardrails are constraints and checks that limit what an agent can do, such as tool permissions, content filters, or required validation steps.
View related themeHalving
A halving is a programmed reduction in Bitcoin's block subsidy.
View related themeHardware Wallet
A hardware wallet is a physical device that keeps private keys isolated while signing transactions.
View related themeHash Rate
Hash rate measures the computational work miners contribute to a proof-of-work network.
View related themeHealth Factor
Health factor estimates how close a lending position is to liquidation.
View related themeHuman-in-the-Loop
Human-in-the-loop describes a workflow where people review, approve, correct, or override automated model decisions in important cases.
View related themeImpermanent Loss
Impermanent loss is the opportunity cost that can occur when pooled token prices move apart.
View related themeIncident Response
Incident response is the process of detecting, triaging, mitigating, and learning from outages or security events using defined procedures and roles.
View related themeInference
Inference is the process of running an AI model to produce an answer from a given input.
View related themeInference Latency
Inference latency is the delay between sending a request to a model and receiving output, shaped by queueing, batch scheduling, compute speed, and decoding strategy.
View related themeInference Router
An inference router is a system that directs a request to different models, hardware pools, or decoding settings based on cost, latency, or capability requirements.
View related themeInflation Expectations
Inflation expectations describe what households and markets believe inflation will be in the future, which can influence wages, prices, and interest rates.
View related themeInterest Rate Model
An interest rate model is a set of rules (often a curve) that maps utilization to borrow and supply rates in a lending protocol.
View related themeInterest Rates
Interest rates influence borrowing costs, yields, and risk appetite across markets.
View related themeIssuer Risk
Issuer risk is the risk that a centralized issuer faces legal, operational, or solvency problems that can affect holders even if the on-chain token keeps functioning.
View related themeKey Rotation
Key rotation is replacing cryptographic keys or API credentials on a schedule or after exposure to limit the impact of compromised secrets.
View related themeKV Cache
A KV cache stores intermediate key/value tensors from prior tokens so an autoregressive model can generate the next token faster without recomputing attention over the full history each step.
View related themeLending Pool
A lending pool lets users supply assets that other users can borrow against collateral.
View related themeLeverage
Leverage lets a trader control a larger position than their cash balance, amplifying both gains and losses.
View related themeLiquid Staking Token
A liquid staking token (LST) represents a claim on staked assets plus accrued rewards, letting holders use the position in DeFi while still earning staking yield.
View related themeLiquidation
Liquidation happens when a position is forcibly closed because margin is no longer sufficient.
View related themeLiquidation Penalty
A liquidation penalty is an extra cost charged when collateral is sold to repay an unsafe loan.
View related themeLiquidation Threshold
A liquidation threshold is the health boundary at which a lending position becomes eligible for forced unwinding to protect lenders from further collateral shortfall.
View related themeLiquidity
Liquidity describes how easily assets can be traded without large price impact.
View related themeLiquidity Buffer
A liquidity buffer is a reserve of cash-like or easily sold assets held to meet redemptions, payments, or unexpected funding needs.
View related themeLiquidity Pool
A liquidity pool is a smart-contract reserve of tokens that traders can swap against.
View related themeLLM
An LLM is an AI model trained on large text datasets to understand and generate language.
View related themeLP Token
An LP token represents a user's share of assets deposited into a liquidity pool.
View related themeMargin
Margin is collateral posted to open or maintain a leveraged trading position.
View related themeMarket Cap
Market cap is commonly calculated as asset price multiplied by circulating supply.
View related themeMemory
In agent systems, memory is stored context (like notes or retrieved documents) used to stay consistent across multiple steps.
View related themeMempool
A mempool is the set of valid but unconfirmed transactions broadcast to a network, where ordering, fees, and propagation dynamics can affect execution outcomes.
View related themeMEV
MEV (maximal extractable value) is the value that can be captured by controlling transaction inclusion and ordering in a block, such as through arbitrage, liquidations, or front-running strategies.
View related themeMining
Mining is the proof-of-work process that secures Bitcoin and proposes new blocks.
View related themeMint
Minting is the process of creating new tokens, typically when new collateral or cash enters a system.
View related themeMint and Burn
Minting creates new tokens and burning destroys tokens, changing total supply in response to deposits, redemptions, or protocol rules.
View related themeMint and Redeem
Mint-and-redeem is the primary mechanism many fiat-backed stablecoins use: authorized parties deposit backing assets to mint tokens and burn tokens to redeem the backing assets.
View related themeModel Attestation
Model attestation is producing evidence about the model version and execution environment used for a result, helping downstream systems reason about trust and provenance.
View related themeModel Drift
Model drift is a change in model performance or behavior as input patterns, data quality, user needs, or surrounding systems evolve.
View related themeMultisig
A multisig wallet requires approvals from multiple keys to execute actions, reducing single-key compromise risk.
View related themeNet Asset Value
Net asset value is the estimated value of a fund's underlying holdings minus liabilities, usually expressed on a per-share basis.
View related themeObservability
Observability is the ability to understand a system's behavior from signals like logs, metrics, and traces to diagnose issues and improve reliability.
View related themeOperator
An operator is an entity that runs infrastructure (such as validators or service nodes) and performs duties on behalf of delegated stake, often under specific performance and availability requirements.
View related themeOracle
An oracle provides off-chain or cross-system data (like prices) to a smart contract that cannot fetch it natively.
View related themeOracle Deviation
Oracle deviation describes how much an oracle-reported value differs from a reference or recent value, often used to trigger safeguards or alerts.
View related themeOracle Heartbeat
An oracle heartbeat is the maximum allowed time between reference-price updates before a protocol treats the feed as stale or forces extra safety checks.
View related themeOracle Manipulation
Oracle manipulation is an attack where an adversary influences the data a contract uses, such as price feeds, to trigger profitable outcomes.
View related themeOrder Book
An order book lists current buy and sell orders on an exchange.
View related themeOrder Flow Auction
An order flow auction is a mechanism where searchers or builders bid for the right to execute or include a user's order, aiming to improve execution while explicitly pricing ordering privileges.
View related themeOvercollateralization
Overcollateralization means locking collateral worth more than the issued stablecoin or loan, providing a buffer against price moves.
View related themePause Function
A pause function is an emergency mechanism that can temporarily halt certain contract actions (like transfers or withdrawals) during an incident.
View related themePeg
A peg is the target value a stablecoin or currency arrangement tries to maintain.
View related themePeg Band
A peg band is a range around a target price where small deviations are expected before stronger market or operational responses may appear.
View related themePhishing
Phishing is a social-engineering attack that tricks users into revealing secrets or approving malicious transactions by impersonating trusted services.
View related themePlanner
A planner breaks a goal into an ordered set of steps, sometimes delegating subtasks to specialized tools or modules.
View related themePlanning
Planning is the process of decomposing a goal into ordered steps and selecting actions, which can improve reliability for multi-step agent tasks.
View related themePolicy Rate
A policy rate is a central bank's target interest rate that influences broader borrowing costs and risk-free yield benchmarks.
View related themePrice Impact
Price impact is the change in an AMM's quoted price caused by the trade itself, typically larger when liquidity is shallow.
View related themePrivate Mempool
A private mempool is a transaction relay path that avoids broad public gossip, which can reduce exposure to certain MEV attacks but also changes trust and censorship assumptions.
View related themePrivate Orderflow
Private orderflow is transaction intent routed through private relays or auction systems so it is not visible to the public mempool before execution.
View related themePrompt
A prompt is the input or instruction given to an AI model to shape its response.
View related themePrompt Injection
Prompt injection is an attack where untrusted content is crafted to steer a model into ignoring rules, leaking data, or taking unsafe actions.
View related themeProof of Inference
Proof of inference refers to techniques for giving verifiable evidence that a specific model computation or output was actually produced by a claimed system.
View related themeProof of Reserves
Proof of reserves is a method for demonstrating that an issuer or custodian holds assets that back liabilities, often using attestations and sometimes cryptographic proofs.
View related themeProvider Reputation
Provider reputation is a score or record of past behavior used to estimate whether an infrastructure supplier is reliable, responsive, and accurate.
View related themePut Option
A put option gives the holder the right, but not the obligation, to sell an asset at a set price.
View related themeRate Limiting
Rate limiting caps how often an agent or API can act over time, helping prevent runaway loops, abuse, or accidental overload.
View related themeReal Rate
A real rate is an interest rate adjusted for inflation, often approximated as nominal yield minus expected inflation.
View related themeReal Yield
Real yield is the return on an asset after adjusting for inflation, making it a common benchmark for comparing nominal rates with actual purchasing-power outcomes.
View related themeRed Teaming
Red teaming is adversarial testing that probes a system for failure modes such as prompt injection, data leakage, or unsafe actions, with the goal of improving defenses and procedures.
View related themeRedemption
Redemption is the process of exchanging a stablecoin or token for its underlying asset or cash value.
View related themeRedemption Queue
A redemption queue is the ordered process for handling requests to convert a token or fund share back into cash or underlying assets.
View related themeRedemption Window
A redemption window is the time frame when an issuer, venue, or system processes redemptions, which can affect liquidity needs and settlement predictability.
View related themeReentrancy
A reentrancy bug can let an attacker call into a contract again before state updates, potentially draining funds if not protected.
View related themeReserve
Reserves are assets held to support redemptions or maintain a stablecoin's target value.
View related themeReserve Attestation
A reserve attestation is a third-party report that gives a point-in-time view of assets backing a stablecoin or similar claim.
View related themeReserve Composition
Reserve composition describes the mix of assets (for example cash, Treasury bills, or repos) held to support a stablecoin or similar product.
View related themeRestaking
Restaking is a design where staked assets (or staking commitments) are reused to provide economic security to additional services beyond the base network, typically with added conditions and risks.
View related themeRetrieval
Retrieval is the process of selecting relevant documents or facts (often from a vector database or search index) to provide context before generation.
View related themeRetrieval-Augmented Generation
Retrieval-augmented generation, or RAG, combines search over relevant documents with model generation so responses can use fresher or domain-specific context.
View related themeRisk Scoring
Risk scoring combines multiple signals (such as exposure paths, behavioral patterns, and counterparties) into a numeric or categorical score used to prioritize reviews and controls.
View related themeRollup
A rollup is a layer-2 system that batches transactions off-chain and posts compressed data and proofs back to a base chain.
View related themeRoute Splitting
Route splitting is executing one trade across multiple pools or routes to reduce price impact and improve execution under given constraints.
View related themeRWA
RWA refers to real-world assets such as bonds, credit, commodities, or real estate represented on-chain.
View related themeSanctions Screening
Sanctions screening is checking addresses, entities, or counterparties against sanctions and restriction lists to reduce regulatory and operational risk in compliant systems.
View related themeSandboxing
Sandboxing is running an agent or tool in a restricted environment with limited permissions to reduce the impact of mistakes or malicious outputs.
View related themeSandwich Attack
A sandwich attack is a form of MEV where an attacker places trades before and after a victim's swap to move the price against the victim and then capture profit when reversing.
View related themeSeed Phrase
A seed phrase is a set of recovery words that can restore control of a crypto wallet.
View related themeSequencer
A sequencer is the component that orders transactions for a rollup and proposes batches that later get finalized on the base chain.
View related themeSettlement Layer
A settlement layer is the base system where transfers, obligations, or rollup state updates become final, anchoring trust for higher-level applications.
View related themeShared Security
Shared security is an approach where multiple chains or services rely on the same set of economic guarantees or validators, which can improve bootstrapping but may couple risk across systems.
View related themeSlashing
Slashing is a protocol-enforced penalty that reduces stake when a validator or operator violates rules, aiming to deter harmful behavior and enforce reliability assumptions.
View related themeSlashing Penalty
A slashing penalty is a protocol-enforced loss of staked funds triggered by misbehavior or certain validator faults, designed to protect network security assumptions.
View related themeSlippage
Slippage is the difference between the expected price of a trade and the price actually received when the order executes.
View related themeSmart Contract
A smart contract is code deployed on a blockchain that runs according to predefined rules.
View related themeSpot ETF
A spot ETF is an exchange-traded fund designed to track direct exposure to an underlying asset rather than a futures contract or derivative strategy.
View related themeStablecoin
A stablecoin is a crypto asset designed to track a reference value, commonly one U.S. dollar.
View related themeStableswap Curve
A stableswap curve is an automated market maker design optimized for trading assets that should stay near the same value (like stablecoins), typically aiming for low slippage around the peg.
View related themeStaking
Staking locks crypto assets to help secure a proof-of-stake network and earn rewards.
View related themeState Root
A state root is a cryptographic commitment (often a Merkle root) to a blockchain or rollup's state after a set of transactions.
View related themeStrike Price
The strike price is the price at which an option can be exercised.
View related themeStructured Output
Structured output is when a model produces responses in a constrained schema (like JSON), making downstream parsing, validation, and safety checks more reliable.
View related themeSupply APY
Supply APY is the estimated yearly return paid to lenders who supply assets to a lending market.
View related themeSwap Router
A swap router is a contract or service that selects a path across pools (and sometimes multiple DEXs) to execute a token swap.
View related themeTaint Analysis
Taint analysis tracks how funds move across addresses and transactions to estimate exposure to specific sources, noting that different heuristics can yield different results.
View related themeTerm Premium
Term premium is the additional compensation investors may demand for holding longer-maturity bonds instead of rolling short-term debt, beyond expected policy-rate paths.
View related themeTether
Tether is the issuer of USDT, one of the largest dollar-linked stablecoins.
View related themeTimelock
A timelock delays privileged changes (like upgrades) to give users time to review and react.
View related themeToken Throughput
Token throughput measures how many tokens a model server can process or generate per second under a given batch size, hardware, and latency target.
View related themeTokenization
Tokenization is the process of representing ownership or claims as blockchain tokens.
View related themeTool Calling
Tool calling is the pattern where a model selects and structures a call to an external function, API, or workflow instead of answering from text alone.
View related themeTool Sandboxing
Tool sandboxing restricts what an agent's tools can access or modify (for example via allowlists, timeouts, and isolated environments) to reduce the blast radius of mistakes or attacks.
View related themeTool Use
Tool use is when an AI agent invokes external functions or services (like search, code execution, or databases) to complete tasks beyond pure text generation.
View related themeTravel Rule
The travel rule is a compliance requirement in many jurisdictions to transmit certain sender and receiver information alongside qualifying value transfers, including some crypto transfers when intermediated.
View related themeTreasury Auction
A Treasury auction is the process through which the U.S. government sells new bills, notes, or bonds, providing a live signal of demand and financing conditions.
View related themeTreasury Bills
Treasury bills are short-term U.S. government debt instruments often used as cash-like collateral.
View related themeTrusted Execution Environment
A trusted execution environment (TEE) is a hardware-backed isolated environment that can protect code and data during execution and produce attestations about what ran.
View related themeTVL
TVL estimates the value of assets deposited in a protocol or group of smart contracts.
View related themeUSDC
USDC is a dollar-denominated stablecoin issued by Circle.
View related themeUtilization Rate
Utilization rate is the fraction of supplied liquidity that is currently borrowed, often driving interest-rate changes in DeFi pools.
View related themeValidator
A validator participates in proof-of-stake consensus by proposing or attesting to blocks.
View related themeValidator Commission
Validator commission is the percentage of staking rewards retained by a validator or operator as compensation for running infrastructure and taking operational responsibilities.
View related themeVector Database
A vector database stores embeddings so an application can retrieve semantically similar documents for tasks like search or RAG.
View related themeVerifiable Compute
Verifiable compute is a design where a system can provide evidence that a computation was executed correctly, which can be important for trust-minimized AI workflows.
View related themeWallet
A wallet manages private keys and lets a user sign blockchain transactions.
View related themeWallet Clustering
Wallet clustering is an analytics approach that groups addresses that may be controlled by the same entity using heuristics and activity patterns.
View related themeWhale Wallet
A whale wallet is an address believed to hold a large amount of a crypto asset.
View related themeWithdrawal Delay
A withdrawal delay is the waiting period required to move assets from a layer-2 back to the base chain, often tied to finality or fraud-proof windows.
View related themeWithdrawal Queue
A withdrawal queue is the waiting period or ordered backlog for converting a staked position back into the underlying asset, often used to manage exit capacity and security.
View related themeWorkload Scheduler
A workload scheduler decides where and when compute jobs should run based on resource availability, requirements, cost, and priority.
View related themeYield Aggregator
A yield aggregator is a protocol or strategy wrapper that routes capital across opportunities to optimize yield under its stated rules and risks.
View related themeYield Curve
A yield curve shows interest rates for bonds of different maturities, reflecting expectations for growth and inflation.
View related themeYield Farming
Yield farming is the practice of allocating crypto assets to earn protocol incentives or fees.
View related themeZK Proof
A ZK proof is a cryptographic proof that can show a statement is true without revealing all underlying data, enabling privacy-preserving verification of certain computations.
View related themeZKML
ZKML refers to techniques that generate cryptographic proofs about a machine learning model's computation, aiming to verify claims without revealing all inputs or internals.
View related theme