Glossary

Plain-English definitions of every crypto term you'll meet around $SKI. Each term has its own page for deeper context.

Base

Coinbase's Layer-2 Ethereum network. Cheap, fast, and the home chain of $SKI.

CTO

Community Takeover. When the original dev abandons a token and holders take over operations.

DEX

Decentralised Exchange — a smart contract that lets you swap tokens without an account (e.g. Uniswap, Aerodrome).

CEX

Centralised Exchange — Coinbase, Binance, MEXC. You hand them custody of your coins.

Gas

The transaction fee paid to the network. On Base, gas is fractions of a cent.

Slippage

The difference between the price you expected and the price you actually got. Common when buying low-cap memecoins.

RPC

Remote Procedure Call — the URL your wallet uses to talk to a blockchain node.

LP

Liquidity Pool — the on-chain pair of tokens (e.g. SKI/ETH) that powers DEX trades.

Renounced

When the contract owner gives up admin keys, making the token immutable. $SKI is renounced.

Wallet

Software (or hardware) that holds your private keys. Common: MetaMask, Rabby, Coinbase Wallet.

Bridge

A protocol that moves assets between chains (e.g. Ethereum mainnet → Base).

Honeypot

A scam contract that lets you buy but blocks selling. Always test with a small amount first.

Rug-pull

When the deployer pulls liquidity or dumps their bag, leaving holders with worthless tokens.

Memecoin

A token whose value comes from attention, culture and community rather than utility.

Schelling Point

The 'obvious' choice everyone converges on without coordinating — why dog memes keep winning.

Ethers / ETH

The native currency of Ethereum and Base. You need ETH on Base to pay gas.

Coinbase Smart Wallet

Coinbase's no-seed-phrase wallet that defaults to the Base network — a major distribution edge for $SKI.

Layer 2

A network built on top of Ethereum that batches transactions to make them cheap and fast. Base is an L2.

AMM

Automated Market Maker — the smart contract that prices DEX trades using a liquidity pool formula.

Aerodrome

Base's leading native DEX. Often the deepest liquidity venue for $SKI.

Uniswap

The largest DEX in DeFi. Available on Base — one of the easiest places to buy $SKI.

Basescan

Block explorer for Base. Use it to verify the $SKI contract address and check transactions.

Seed Phrase

12–24 word backup of your wallet. Anyone with these words controls your funds. Never share it.

Hardware Wallet

A physical device (Ledger, Trezor) that signs transactions offline — safest way to store memecoins long-term.

Self-Custody

Holding your own keys instead of trusting an exchange. Required for buying memecoins on a DEX.

On-ramp

A service that converts fiat (USD/EUR) to crypto. Coinbase, Binance and Swyftx are common on-ramps.

Off-ramp

Converting crypto back to fiat — usually via the same CEX you on-ramped through.

Tokenomics

The economics of a token: total supply, distribution, taxes, burns and unlock schedule.

Whale

An address holding a large percentage of supply. Whale moves often telegraph trends on-chain.

Diamond Hands

Holding through volatility instead of selling. The opposite is paper hands.

FUD

Fear, Uncertainty, Doubt — usually negative chatter aimed at shaking holders out of their position.

FOMO

Fear Of Missing Out — buying late because price is mooning. Often a top signal.

Moon

Slang for a parabolic price move. "To the moon" = expecting massive upside.

Bag

Your holdings of a particular token. "$SKI bag" = your $SKI position.

Dump

A sharp price decline, usually caused by large holders selling at once.

Burn

Sending tokens to a dead address, permanently removing them from supply.

Airdrop

Free token distribution to qualifying wallets. Often used for community rewards or marketing.

DeFi

Decentralised Finance — open, permissionless financial protocols built on smart contracts.

MEV

Maximal Extractable Value — profit extracted by reordering transactions in a block (sandwich attacks etc.).

Approval

On-chain permission you grant to a contract to spend your tokens. Revoke unused approvals regularly.

Cold Wallet

A wallet kept offline (hardware or air-gapped). Best for long-term storage of meaningful bags.

Hot Wallet

An always-online wallet (browser extension, mobile app). Convenient but more exposed to phishing.

Smart Contract

Self-executing code on a blockchain. The $SKI token is a smart contract on Base.