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

# Glossary

Plain-language definitions of every term used in these docs.

**AMM (Automated Market Maker)**
The mechanism a DEX uses to set prices automatically. Instead of matching buyers and
sellers, you trade against a shared pool of tokens, and a formula sets the price. See
[What Is a DEX?](../learn/what-is-a-dex).

**APR / APY**
Estimated annual return. **APR** (Annual Percentage Rate) is the simple yearly rate; **APY**
(Annual Percentage Yield) accounts for compounding. On PrigeeX these are estimates based on
recent activity and change over time, not guarantees.

**Arbitrum**
The fast, low-cost network ("Layer 2") that PrigeeX runs on. Built on top of Ethereum, with
the same security but far cheaper, quicker transactions.

**Arbiscan**
The public block explorer for Arbitrum: a website where anyone can look up transactions,
addresses, and verified contracts. See [Contract Addresses](contract-addresses).

**Bridge**
A tool that moves your tokens from one network to another (e.g. from Ethereum to Arbitrum).
See [Get Funds on Arbitrum](../getting-started/get-funds-on-arbitrum).

**DEX (Decentralized Exchange)**
A trading platform that runs on public smart contracts, where you trade directly from your
own wallet and no company holds your funds. PrigeeX is a DEX.

**ETH**
The native currency of Ethereum and Arbitrum, used to pay network fees (gas).

**Gas**
The small network fee paid (in ETH) to process any transaction. On Arbitrum, usually a few
cents. See [Fees & Gas](../learn/fees-and-gas).

**Impermanent loss**
The gap in value that can appear for a liquidity provider when the two pooled tokens' prices
move apart, compared to simply holding them. See
[Impermanent Loss, Explained](../learn/impermanent-loss).

**In range / Out of range (Concentrated)**
Whether the current market price is inside the price band you chose for a Concentrated position.
In-range positions earn fees; out-of-range positions are paused until the price returns or
you adjust.

**KYC**
"Know Your Customer" identity checks required by centralized services. PrigeeX requires none
to start trading.

**Liquidity**
The pool of tokens available for trading. More liquidity means larger trades with less price
movement.

**Liquidity Provider (LP)**
Someone who deposits a token pair into a pool to earn a share of trading fees. See
[Provide Liquidity](../guides/liquidity-v2-vs-v3).

**LP token (Classic)**
The token you receive as a receipt for providing Classic liquidity. It represents your share of
the pool and is redeemed when you withdraw.

**NFT position (Concentrated)**
A Concentrated liquidity position, represented as a unique token (NFT) in your wallet, think of it as
the "deed" to that position.

**PGX**
The PrigeeX native token. Used for staking (to earn revenue) and governance. Fixed supply of
one billion. See [PGX Tokenomics](../investors/pgx-tokenomics).

**Pool**
A shared pot of two tokens that people trade against and that liquidity providers deposit
into.

**Price impact**
How much your own trade moves the price, shown color-coded. Larger trades on smaller pools
have higher price impact. See [Swap Tokens](../guides/swap-tokens).

**Seed phrase (Secret Recovery Phrase)**
The 12-word master key to your wallet. Never share it or type it into any website. See
[Security & Safety](../learn/security-and-safety).

**Self-custody**
You, not a company, hold and control your funds. The core principle of a DEX.

**Slippage / Slippage tolerance**
The change in price between clicking and settling. Your **tolerance** (default 0.5%) is the
most you'll accept before a trade cancels itself to protect you.

**Smart contract**
A public program on the blockchain that runs exactly as written. PrigeeX's features are
powered by verified smart contracts anyone can inspect.

**Stablecoin**
A token designed to hold a steady value, usually about \$1 (e.g. USDC, USDT).

**Staking**
Locking up PGX to earn a share of the platform's revenue. See
[Stake PGX](../guides/stake-pgx).

**Swap**
Trading one token for another. See [Swap Tokens](../guides/swap-tokens).

**TVL (Total Value Locked)**
The total value of all tokens deposited across the platform, a common measure of a DEX's
size. See [Read the Analytics](../guides/read-the-analytics).

**Classic / Concentrated (CL)**
The two liquidity modes PrigeeX offers. **Classic** spreads liquidity evenly across all prices
(simple, hands-off). **Concentrated** (also called *concentrated liquidity*, or **CL** for short)
focuses it in a price range you choose (advanced, higher-earning). See
[Classic vs Concentrated](../guides/liquidity-v2-vs-v3).

**Wallet**
The app that holds your tokens and lets you approve actions: your account and login on a
DEX. See [Set Up a Wallet](../getting-started/set-up-a-wallet).