# Glossary

#### Open Finance (OpFi) <a href="#opfi" id="opfi"></a>

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&#x20;

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  <a href="#lp" id="lp"></a>

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

#### Liquidity Pool&#x20;

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

#### Liquidity Pair&#x20;

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

#### Token Emissions&#x20;

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

#### Bribes&#x20;

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

#### Gauge  <a href="#gauge" id="gauge"></a>

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&#x20;

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](https://3six9innovatio.gitbook.io/documentation/3six9-products/the-3xcalibur-ecosystem/3xcaligovern/vest).

#### Vote&#x20;

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&#x20;

The fees accrued by the protocol&#x20;

#### Platform Fees&#x20;

The fees accrued and distributed to vote lockers&#x20;