Glossary

Open Finance (OpFi)

A re-work of "DeFi". The concept of allowing individuals to access and control their finances apart from centralized businesses and entities, and for more than just banking.

Automated Market Maker

A smart contract that uses a math formula to calculate trade/swap prices between tokens instead of a counterparty's price through a centralized order book.

Liquidity Provider

Users who fund liquidity pools on an exchange in return for rewards or fees.

Liquidity Pool

Token assets deposited to decentralized exchange used to facilitate trades between pairs.

Liquidity Pair

The specific two token pair of tokens that compose a liquidity pool.

Token Emissions

Tokens that are minted as a reward for being a Liquidity Provider.

Bribes

Tokens given out by users as reward for voting for specific liquidity pools.

Gauge

A control on a pool that sets the emission of XCAL on a pool, adjusted by the proportion of votes by veNFT holders.

Cycle

The timespan where votes are counted for calculating emissions, fees, and rewards.

Vote Escrow

The concept where tokens can be locked (or "escrowed") and in return gain rewards.

veNFT

A transferable record of a locked amount of XCAL and the period after which those tokens will unlock.

XCAL

The emissions token native to 3xcalibur.

veXCAL

Vote Escrowed XCAL, with an exchange rate determined by the lock period.

Vote

The portion of a veNFT used to direct emissions to a liquidity pool.

APR (Annual Percentage Yield)

The return (for lenders) or cost (for borrowers) of a financial product calculated over the course of a year.

Protocol Fees

The fees accrued by the protocol

Platform Fees

The fees accrued and distributed to vote lockers