# Important Terms

### **Financial Terminology**

You will find that cryptocurrency, not blockchain tech, brings but a few new fundamentals to the world of economics. One must simply search for the earliest account of a *broker* being a functional role in economics and its first established position as a recognized profession. Or, go further back to the first money markets that existed, and thrived, more than 8,000 years ago. Cryptographical ledgers, aka; blockchain technology is new. Though, currency no matter what form it takes, is quite antiquated. As are the terms and definitions that go along with it.&#x20;

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We make a point to strive for being the best at what we do. Being highly knowledgeable in all areas while also being professional is great but with out consistency and accuracy, we would not get far. There are currently no staking opportunities that provide direct exposure to staking on Fiefdom Lords. We discuss opportunities later in this document. See you there.
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#### Traditional & Established

* **Deposit =** What a lot of projects erroneously call *staking* we call deposits or post.&#x20;
* **Derivatives =** Taken from \[some thing]. Most prevalent of these (in the crypto-verse) are the perpetual futures contracts. They track (quite closely) the price action of the real asset yet they have no direct nor indirect ownership of said asset. Sometimes used for hedging positions and shorting. Not to be confused with options but they do share similarities.
* &#x20;**Fiat =** Fiat is a government sanctioned currency to which they have control over (or intend to control), and is not backed by a commodity (like gold). The USD (United States dollar) was once backed by gold. This limited the printing of money and speculative options for market creation. Although the USA still has gold reserves; this is of little importance in the federal and state monetary policy. Now, the GDP (gross domestic product) and credit rating is the central points of US monetary policy both internally and internationally. Essentially, most of today's currency is backed by the "good ole word or promise" of the subject government. In short, the value of the dollar is slightly fabricated by those assigning said value. Other countries are free to disagree and or dispute this via market and foreign affairs activities.
* **Long/Short (position) =** A long position is a buy low (open) sell high (close) cycle. A long position is held if you have indication that the asset will go up in value (upside). Short position is the opposite of long and is typically executing via derivatives markets.
* **Severalty =** This is **not** *several* as in the quantity (Not like "Several people love crypto at my school"). It is *sever*, as in, to *cut off, to separate* or to bring about the disconnecting of things from one another. In real estate, ownership in severalty (being the one and only owner) is an important concept.

#### New Age (Technology + Finance)

* &#x20;**AMM =** Automated Market Maker. A smart contract or set of contracts, that use a rather simple but incredibly power formula that removes the need for a trader to find a match to their order. Although some DExs have order books, AMMs (a type of DEx) don't have another human buying what you are selling nor selling what you want to buy. Trades execute against a pool governed by the formula. If you are willing to pay the advertised price, the trade will execute.
* **CEx =** Centralized Exchanges
* **DApp =** Decentralized Application.
* **DeFi =** Decentralized Finance; simply put, there are no need for approvals like there are in CeFi (centralized "traditional" finance). As soon as you meet or exceed the requirements written in the code (smart contract), you can then proceed with your transaction(s). Even if that transaction is a loan. No humans, (mostly) no errors nor attitudes.&#x20;
* **DEx =** Decentralized Exchanges with multiple types (i.e. AMM, Order Book, Derivatives).&#x20;
* **Epoch =** A period of time.&#x20;
* **Fiat On-Ramps =** Software and/or service providers of merchant services that receive national currencies, process exchanges, and send in return to the user, the cryptocurrency that was specified at a predetermined amount (there will nearly always be slight variations in the received amounts and predicted amounts due to slippage and other market forces).&#x20;
* **Fin-Tech =** Financial Technology
* ❗ **NFT =** Art and collectibles are just the tip of the NFT iceberg. NFT's will have near infinite utility as the tech matures and real world infrastructure comes on line. Here, in the Fiefdom, NFTs verify your ownership portion in real property exposure investments (no need to stake, simply hold and receive rental payments). They are integral for voting (repairs, maintenance) and calculating rent payments to you each month. Additionally, NFTs are the Ranked Platform Membership asset. These, can and should be staked. At times, you will need to show/scan the NFT to access venues, conventions, and protected areas (both on platform and real world).
* **LP =** Liquidity Provider. A high risk position involving a token pair that mints an LP token. A vital concept in AMM style technology. LP tokens can earn from 2 - 4 or more revenue sources. Trading/Swap fees (very small amount), Yield Farming (moderate to ludacris APY). Typically paid in projects native token (e.g. FIEF).
* **Pool =** A versatile word that can cover a lot of areas and perhaps lead to a little confusion. In general, a pool is an instrument (an investment vehicle, namely; a smart contract) that is designed to have a large number of participants. There are a few types of pools you should be familiar with before considering participation in Fiefdom Lords. Single Asset pools are nearly the same as depositing money into a savings account except for the interest rates and lack of inherent insurance (e.g. FDIC). Some pools, like liquidity pools, can bring about severe financial losses at astonishing speeds to even the most experienced and knowledgeable of people in the crypto space. You absolutely **should not** participate in LP Liquidity Pools, if you lack a high level of experience and knowledge on the matter.
* **Staking =** This may be one of the most used and misused words in all of crypto (except for When Moon, and When Lambo). It is vital to have a deep understanding of the mechanism that are in control of your assets. To not have that could be financially disastrous.  Staking comes from *Proof of Stake*, a consensus mechanism. The PoS protocol is a class of consensus mechanisms for blockchains that work by selecting validators in proportion to their quantity of holdings in the associated cryptocurrency. This is done to avoid the computational cost of proof of work scheme (PoW). To *stake* means to loan or **delegate** your cryptocurrency (and votes) to a validator. You will earn a return (something around 5% - 15% up to 40%), and the validator benefits by having a higher chance of be elected.
* **TX =** Transaction. Any interaction that causes or request a change. Monitoring, for example; would not be considered a transaction.
* **Vault =** Historically, vault has had limited usage. It is far more heavily used in crypto than in the big banks (CeFi/Traditional Fi). It is not an established word per se, so you are surely going to hear conflicting information. A vault is simply a safe storage area for monetary instruments and/or things of high value (like diamonds or gold). At Fiefdom though, when we say vault, we are referring to locking mechanism. As in **Time** locks. Be careful to not inadvertently Time Lock your crypto in one of our vaults. Our vaults will not release the asset until the appropriate time. We offer locks that time out in as few as 7 days and up to 2 years (730 days)! The benefit to you is a higher ROI (Return On Investment). Also, if you tend to FOMO sometimes, a locked vault will certainly stop you from buying or selling when you know you probably shouldn't or may later regret.

### Fiefdom Vocabulary

* **Account(s) =** A collection (grouping) of: wallet addresses, smart contracts, allocation purpose categories for display/illustration, organizational purposes, and security by isolation. Some accounts are stand-alone (e.g. Faucet account is one contract, a frontend, and some tooling).
* **AWM =** Anti Whale Mechanism. We are not Anti Whale per se but, we also do not give them special privileges for being Whales. We **do** attempt to level the playing field, our methods are fair but not equal. The AWMs do however, attempt to **equalize** the wealth dispersion (or lack there of). The rich can have more here, but they'll be challenged a bit along the way.
* **Go Live - Launch Day =** The day pools are activated and yields begin to be emitted with each block. Initial Liquidity will be created and supplied to Viper. Farming reward pools are on Fiefdom DApp not Viper. Create LP on Viper, swap for FIEF on Viper, deposit/supply assets to earn on FiefdomLords.io&#x20;
* **Fief/FIEF/$FIEF =**  FIEF is our native utility token and historically it was a term for land. During the Feudal ages (aka the Dark Ages), land was a very important part of the economical and social system. A lot of things were measured by comparing one "thing" to the amount of land a work animal could tend to in a given period of time (e.g. an ox plow team). When you see FIEF or $FIEF rather than Fief; we are referring to our utility token.
* **Fiefdom =** Fiefdom is the platform, the users, the token, even the memories some of us will make are all part of the Fiefdom.  As far as we know, the word Fiefdom is our creation and is pretty similar to a Kingdom without all of the unnecessary parts, like swords and overbearing dictators! However, we are dealing with real property, real money, and things move really fast in the crypto-verse.&#x20;
* **Fiefdom Member (aka Platform Member, Ranked Member) =** Yes, we have a ranking system. When a user has accumulated the necessary points and completed any pre-requisite task they can earn titles. The First title is one we are all familiar with, the **Knight**. The ranking system is meant to add some fun to the operation but, let us be clear; earning a title of Knight or higher in the Fiefdom can bring about some really strong financial and other benefits. So stay tuned!&#x20;
* ❗ **Member Owner/Legal Member =** When any person participates in the real estate property sales they will be dealing with just that, real world real estate. It is not virtual property in a game or metaverse. As such, you become a member during that transaction because you are purchasing ownership of an LLC or a Corporation (it depends on a few factors but we will always be clear on the matter). Coincidentally, people who own LLCs are called Members instead of shareholders. Owning investment property can be risky, and not having the LLC for protection can be a costly mistake. Which can be worse if you are an owner in severalty (single sole owner). We take your digital safety and financial soundness seriously.
* **Platform Owned Assets (POA) =** Fees end up as POA which is invested in numerous ways. Certain groups (e.g. Legal Members for a period, and Ranked Members) are rewarded with additional yields from the earnings of the POAs. This does something *very* **special** and maybe unique (let us know if not). When all FIEF is minted and dispersed in about 25 years from launch day, the POAs will still be earning revenue (and quite a lot by then). Long term, dedicated Members will not suffer income loss once the last FIEF is harvested because of POAs. We intend for this to last generations meaning your children's children could inherit an income portfolio that you begin to build now.
* ⚜️**Base Rate =** A starting point for nearly all fees. It is homogenous across all DeFi pools. The base rate plus modifier is the Standard Rate.
* ⚜️**Standard Rate =** When depositing or withdrawing funds from a smart contract (aka *a pool*) utilizing our formula, the **Standard Rate** is the assigned rate which is written as a an integer and base rate symbol *b (e.g. 4b). It* executes as the last operation of the fee calculation formula. The Standard Rate is/can be different between pools, and transaction types (deposits and withdrawals). This assigned rate can change, but \*only\* under 2 conditions. Those being; if there is an approval of the community or after an appropriate disclosure is made to the public and a **waiting period** has passed. Our waiting period will be set at 4 days to start. More information on "cool downs" (aka waiting period for dev code changes) can be found [here](https://thefiefking.gitbook.io/fiefdom-lords-litepaper/introduction/who-or-what-is-a-fiefdom/important-terms).
* ⚜️**Floating / Gauge Rate =** The floating rate is said to \*float\* because the amount of interest moves higher or lower in direct response to the volume of the transaction being summited. We do think very differently in the Fiefdom. We do **not** give discounts to high volume users. Actually, the floating rate does the opposite, the bigger the transaction, the bigger the fee. Small transactions can sometimes pay less than the Base Rate.
* **Season =** A period of time, 3 months.
* **Span =** A period of time, 1 year.

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