> ## Documentation Index
> Fetch the complete documentation index at: https://docs.dyxy.io/llms.txt
> Use this file to discover all available pages before exploring further.

# Glossary

> Key terms used across DYXY.

| Term | Definition |
| - | - |
| **APR** | Annual percentage rate. The yearly return without compounding |
| **APY** | Annual percentage yield. The yearly return with compounding |
| **Approval** | A transaction that lets a smart contract move a specific token from your wallet |
| **Base order** | The first order of a DCA bot round |
| **Bridge** | A protocol that moves assets from one network to another |
| **Concentrated liquidity** | Liquidity provided only within a chosen price range |
| **Cross margin** | A margin mode where all positions share one margin balance |
| **DCA** | Dollar-cost averaging. Buying or selling in steps to average your price |
| **Degen mode** | DYXY's high-leverage perps mode, with up to 1000x on BTC and ETH |
| **Delegation** | Assigning staked tokens to a validator |
| **Funding rate** | Periodic payments between longs and shorts that keep perp prices close to spot |
| **Gas** | The network fee for processing a transaction |
| **Grid** | A bot strategy that places buy and sell orders at set levels across a range |
| **Health factor** | A measure of how far a loan is from liquidation. Below 1, the loan can be liquidated |
| **Impermanent loss** | The value a liquidity position loses compared to simply holding its tokens |
| **Isolated margin** | A margin mode where each position has its own separate margin |
| **Leverage** | Multiplying your exposure beyond your own capital |
| **Limit order** | An order that executes only at a set price or better |
| **Liquid staking token** | A token received for staked assets that keeps earning and stays transferable, such as mSOL |
| **Liquidation** | Forced closure of a position or loan that no longer has enough collateral |
| **Liquidation threshold** | The LTV at which a loan can be liquidated. Called LLTV on Morpho |
| **LP** | Liquidity provider. Someone who deposits tokens into a pool |
| **LTV** | Loan-to-value. Debt divided by collateral value |
| **Maintenance margin** | The minimum margin needed to keep a perps position open |
| **Mark price** | A fair reference price used for PnL and liquidations |
| **Market order** | An order that executes immediately at the best current price |
| **Notional value** | The full size of a position, including leverage |
| **Perpetual futures (perps)** | Futures contracts with no expiry date |
| **PnL** | Profit and loss |
| **Price impact** | How much your own trade moves the price |
| **Referral code** | A code that links a new trader to a referrer and gives the trader a fee discount |
| **Safety order** | An extra order a DCA bot places as the price moves against the position |
| **Slippage** | The difference between the quoted price and the price you get |
| **Tokenized stock** | A token backed 1:1 by a real share held in custody |
| **TP/SL** | Take profit and stop loss |
| **TVL** | Total value locked in a protocol or pool |
| **TWAP** | Time-weighted average price. Splitting an order into parts over time |
| **Validator** | A node that secures a proof-of-stake network and earns staking rewards |


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