Glossary March 5, 2026 AMM (Automated Market Maker) AMM (Automated Market Maker) A decentralized exchange model that uses liquidity pools and a pricing formula (instead of an order book) to quote trades. Back to A–Z glossary
Glossary March 5, 2026 Liquidity Provider Token (LP Token) A token issued to liquidity providers in an AMM representing their share of a liquidity pool and claim to fees earned.
Glossary March 5, 2026 Stock-to-Flow Model A valuation model applied to Bitcoin that compares existing supply to newly produced supply to estimate price.
Glossary March 5, 2026 Centralized Exchange (CEX) A cryptocurrency exchange operated by a central company that requires user identity verification and holds user funds in custodial wallets.