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Crypto GO!!
| Question | Answer |
|---|---|
| What are the 4 currency types? | commodity (have value) representative (backed by value) fiat (established not backed) cryptocurrency |
| What is a One Time Pad (OTP)? What are cons? | Rand string of equal length to text you want to encrypt You XOR both together to get encrypted version CON: hard to transport long pad, no authentication, one time only use |
| What is the relation between a public and a private key? How would you use to send a message from A -> B? | Public key encrypts, a private key decrypts A encrypts the message with B's public key, B can decrypt it with their private key |
| How do signed messages work? What are they used for? | Get the message hash, encrypt it with private key, release message and signature Used to make sure message wasn't changed in transmission |
| How do you verify a message signature? | Compute the hash of the original message, decrypt the signature with the public key, make sure they match |
| What are easy cryptography operations? What are hard cryptography operations? | Easy: generate keys, encrypt/decrypt Hard: discrete logs (needed to undo encryption), elliptic point division, factoring a large composite number |
| What is the form of an elliptic curve? What is the form of the secp256k curve? | elliptic: y^2 = x^3 + ax + b secp256k: y^2 = x^3 + 7 |
| Describe how elliptic point addition works (if adding 2 different points or the same point to itself) | take a line that connects both points, find where it intersects with the curve, reflect that point across the x axis if you add a point to itself, get tangent to that point and its intersection with the curve |
| What is the point at infinity? | adding a point to its reflection, results in a vertical tangent line |
| what is ECDSA used for? how do you make a key pair? | used for signatures, since keys are not interchangeable to make priv key: choose d between 1-(o-1) to make pub key: get the point from d x G (base point) |
| What elements are needed to make an ECDSA signature? | message hash, OTP, base pint, priv key |
| Compare/contrast RSA with ECDSA | RSA: keys interchangeable, and easier to impliment ECDSA: faster to make/use keys, keys shorter with same security |
| Describe the properties needed for a CSPRNG (cryptographically secure pseudorandom number generator) | Needs good source of entropy for the seed, and a good algorithm that appears to be unpredictable once you have the seed |
| What are seed phrases? | english words associated with sequences of bits to help you recover the seed your cryptocurrency seeds used |
| What is the difference between SHA-2 and SHA-3? When is each one mostly used? | SHA-2 is an improvement to SHA-1, and is used a lot in Bitcoin SHA-3 (Keccak) is mathematically different than SHA-2, used in Etherium |
| How do we increase the mining difficulty for PoW coins? Why would we do that? | Increase the number of leading 0 bits on the target hash to make the hash harder to compute. We would want to keep difficulty higher because if it's too easy, we exhaust available coin/devalue coin from giving out more rewards |
| What does the nbits field in Bitcoin do, and how does it work? | Encodes the target first 2 digs: exponent (convert to decimal and subtract 3) = how many trailing hex 0s last 6 digs: mantissa left fill rest of the digit with 0s until you get 64 bytes |
| What is the block difficulty? | how many times harder the current target is compared to the original (original / current) |
| Explain what a mining pool is and how it works to reward contributers | Collection of nodes where each contributes its computing power to attempt to get the target hash. Contributers get a percentage of the reward based on how much work they do |
| What is a mining pool share? | When a nonce is found with a lot of leading 0s, but not enough to reach the target |
| How do mining pools make sure the miners don't find a successful block, then keep the block reward to themselves? | The coinbase must match the pool's coinbase, this is checked on each share |
| Why isn't mining profitable on an individual scale? | Electricity costs, no price discount for bulk, can't reuse heat, tariffs on ASICs |
| How does Ravencoin attempt to be ASIC-resistant? | It uses different hashing algorithms, which involve a lot of computation, making it very difficult/low incentive to design an ASIC for it |
| Describe Proof of Authority - who can verify blocks? Pros/cons? | group of signers signs the block, not very decentralized |
| Describe the "nothing at stake" problem | if there's a fork in the chain, miners would want to mine both forks so that if one chain is not used, they still get reward on the other one. This is an issue bc it makes double speding attacks easier bc duplicate chains not removed as fast |
| Describe Proof of Stake - who can verify blocks? Pros/cons? | those with holdings can present blocks, they stake some of their crypto to vouch for validity of the block Pro: less vulnerable to 51% attacks |
| What can staking mean for PoS cryptocurrencies? | You either put your currency on the line to vouch for the validity of a block OR you rent coins to others so they can participate in validation/staking |
| How did Etherium change from PoW to PoS? | They implemented a difficulty bomb, where after a certain block, would become really hard to mine PoW, so they encouraged nodes to switch to PoS |
| How does Solana work? What kind of Po-X is it? | Proof of history - txns form a DAG, which shows order they occured in. To verify a block, you just need to prove it happened after some other known twn |
| What are green coins? | Anything not PoW, since they take so mch energy to make |
| What is double spending? How can it be prevented? How does the network usually resolve this? | When 2 txns are submitted spending the same UTXO Network prevents it by either miners not including the 2nd TXN or nodes consider the second TXN failed if it ends up on the blockchain BTC segwit was big in preventing this |
| What is a 51% attack? How can it be prevented? | When one controls majority of computign power, so they can create the longest chain and validate whatever prevented by using systems other than PoW |
| What are block confirmations? Why are they used? | waiting until n blocks have been added after spending utxos from the block you care about, makes sure you're working on the longest chain |
| What is an uncle/ommer/orphan block? How are these treated in BTC vs Etherium? | When two blocks are mined at the same time, and block A becomes part of the longest chain, block B is dropped + is an "orphan" block In BTC, there's no reward and they're discarded. In Eth, small reward and they're kept in memory |
| What are the different types of forks? | Soft - changes made to crypto protocol/algo, all users eventually adopt it Hard - change proposed that some users DONT want to adope, so choose a path Source code - take existing code base for cryptoo, modify to make new coin |
| What is a Merkle Tree? Where is it used and how does it work? | DS used in BTC blocks to hold the hashes of txns. Each leaf is the data and hash of data, each internal node is the concatenation of the node's 2 children |
| What are fast merkle trees and how are they able to be faster | improvement on merkle trees, which double hash everything. These do a modified single hash, which is much faster |
| What is the smallest amt of a BTC that can be traded, and how many make up 1 BTC? | 1 satoshi = smallest, 10^8 satoshis in a BTC |
| in a BTC wallet, which holds public and private key pairs, how do you get the invoice address? | take the hash of the public key |
| How many inputs/outputs can a BTC txn have? What's true about the nature of the outputs related to the input balance? | 1+ inputs, 1+ outputs, all input balance must be spent in an output (can redirect change back to yourself if needed) |
| What is a UTXO? | unspent transaction otuput, like a giftcard you got from someone, you can use it as input for a txn you make as funding |
| What are the parts of a BTC block? | Header, txn info, inputs, outputs |
| What is always the first txn in any BTC block? | coinbase txn, pays the miner their reward |
| What is the difference between the sig script and the pub key script in BTC? | Pub key script = OUTPUT, to spend this UTXO, someone needs to provide a matching pub key (hash). Checks that the key hash AND signature match Sig script = INPUT, when we redeem a UTXO, we provide a signature and pub key that the output script asks for |
| How do you spend a UTXO, related to scripts | concat input w/ output script, run them on the mini stack, if code finishes and top of stack is true, ok to spend |
| Why is Pay2PublicKey obsolete? | Pub key needs to be known and displayed in advence, with quantum computing we could work backwards and get the private key, then spend that UTXO |
| What problem did the BTC witness hash solve? | Txn malleability - if some fields in a txn changed, the whole thing would have a diff hash (might be double spent bc looks different). Witness hash doesn't change if fields in a txn change, also helps hold repeated data to decrease txn size |
| How do cross-chain transactions work? | A makes secret x, sends B h(x) A makes txn to transfer B $ if they know x and sign OR if both sign A makes refund txn, if they didn't get payment, transfer $ back to themselves after a time period B does the same thing When A spends B's txn, B knows x |
| What is a smart contract? | program on the etherium blockchain |
| What is the smallest unit of an Ether? How many are in an Ether? How many gwei are in an Ether? | Wei, 10^18 in an ether, 10^9 gwei in an Ether |
| What is a token? | A thing on the blockchain representing an asset other than the native cryptocurrency |
| What is an etherium account nonce? | How many txns an account has sent |
| How do you get and checksum an etherium account address? | take SHA3 of ECDSA pub key, last 20 bytes, checksum with capital/lowercase letters |
| what is gas? what is the gas price? what is the gas limit/start gas? | gas = amount of computational steps required gas price = ether cost per gas step gas limit = max amt of gas willing to pay for |
| What is a patricia tree? | like a merkle tree, but inserts/deletes more efficient (only change one node) |
| what do each of these method types mean in solidity: virtual, public, private, internal, external | virtual = can be overridden public = public private = only code in that class can use internal = this class/subclasses external = everything BUT this class |
| what's the difference between view and pure functions? | view can read from the blockchain, pure can't . neither can write to the blockchain |
| what does the selfdestruct() method do? | caller claims the ether balance of the contract |
| What is an ABI? | list of functions in a contract so programmer can interact with it |
| What is fungability? | any part of a fungible commodity can be replaced by another equal part (ex: 4 quarters can be replaced by 1 dollar) |
| What is the difference between a fungible token and a non-fungible token (NFT)? | fungible: canc be exchanged for an equal amount of the same token (can be split) non-fungible: can't be split into parts, an atomic unit |
| What did ERC-165 do? How does that method work? | supportsInterface - standard for what interface a contract supports, so users know how to interact with it uses interface selectors - XOR of all the function selectors (hashes of the function names) |
| What is ERC-20 for? | Fungible tokens, establishes how to transfer, approve, get balance of an account |
| Why is approve useful for ERC-20 contracts? | Allows us to grant a DEX the right to transfer our tokens on our behalf when making a trade/exchange |
| What is a DEX? | decentralized exchange, exchanges one ERC-20 token for another with an established ratio |
| Why can't we send our currency to exchange to a DEX? What must we do instead? | If we just send currency, it won't know what we want to exchange it for, so we need to first approve the dex to use our crypto, then call the DEX's exchange function |
| how can the approve function be attacked? how can that be prevented? | attacked if we approve B for 20, but we want change it to 10. B can spend 20 fast, then get approved for 10 more to spend. If we instead change B to 0, then B to 10, they can't spend extra |
| What is ERC-721 for and why is it like a manager? | For NFTs, managed bc keeps track of how to transfer, look with IDs, safeTransfer, etc. ALSO HAS supportsInterface |
| What improvements were made to ERC-20 and ERC-721 contracts? | Hooks, NFTs allow batch transfers |
| What are NFT accounts? | Allows NFTs to get acct numbers, so they could "own" other NFTs. These accounts are created in a registry contract |
| If you give an NFT an account, how can it sign for anything? | Can't sign itself bc then priv key would need to be on blockchain, so token owner can sign for an NFT |
| What is Nakamoto consensus? | honest nodes accept a block if its correctly formed, hash less than target, extends longest chain (only for PoW). Takes strict majority |
| What are requirements for a consensus algo? | Consistency - all honest nodes agree Liveliness - blockchain progress can be made |
| what is the 2 generals problem, why is it unsolvable? | generals need to decide whether to attack/retreat, messages through corriers PROBLEM: how do you communicate and confirm a plan if communication channel unreliable? |
| Describe the byzantine generals problem | how can a group of generals decide to attack or retreat if a few are malicious? Communication channels sound, each general holds an array of the opinions of theother generals, looking for a majority vote in the array |
| What is the three generals problem? Is it solvable? | There are three generals, and it isn't possible to solve that case if we have 3 generals with one traitor among them. It does work if the traitor is the other lietenant, but we can't guarantee that |
| What is the generalized claim we can make with basic consensus about the number of traitors the byzantine generals problem can withstand? How can we relate this to the three generals problem? | there is no solution for 3m + 1 generals with > m traitors. We can relate it to 3 generals bc if there's a ratio of 3:1 in any capacity, we can group generals into 3 groups who act together |
| Describe how the oral messages algo solves the byzantine generals problem. What does m represent in OM(m) | m = max # of traitors we can tolerate, strictly less than 1/3 participants liet records the command they hear, uses OM(m-1) to tell all the other liets what they heard liet follows majority order |
| what is the time complexity of the oral messages algo OM(m). what are some cons with that algo? | O(n^m+1), BAD bc of all the nested broadcasting. also no digital signatures, so lietenants can lie abt what they heard |
| what is the signed messages algo SM(m)? what does m represent? | adds signatures onto messages received from other generals so no messages can be altered without notice. m = max number of traitors we can have |
| how does the SM(m) algo work? | signed messages list all their signatories (v:0:1 signed by commander and liet 1) if a message signed by fewer than m lietenants, sign it and pass it along if m traitors and m+1 signatures, loyal liet still gets one valid msg |
| What is the min number of participants needed for SM(m)? How does it's time complexity compare to OM(m)? | Same time complexity, but needs min of m+2 participants |
| What is practical byzantine fault tolerance? | select a node as a leader, leader broadcasts a client request to secondary nodes. Once m+1 replies come back, leader sends response to client |
| How does Tendermint/Cosmos handle consensus? | round robin of who is the next proposer, and clients bond their coins for change to propose. Bonding clients are validators, and they prevote on proposals. If prevote passes, they lock onto the block |
| What is a liquidity pool? | Collection of tokens locked by a smart contract. Funds a DEX with a specific ratio of tokens to (usually) Ether |
| What is a CEX? (Centralized exchange) | you give your money to a CEX, state how much you want to buy at market price (mkt order) exchange pairs your order with someone looking to sell at that price THIS IS THE ORDER BOOK METHOD |
| what are cons of using a centralized exchange (CEX)? | centralized, higher fees, funds locked until you make an exchange or cancel your order |
| How are currency ratios determined by DEX liquidity pools? How can you add to the pools? | ratios are based on the dollar value of assets, we've been using 50/50 so we assume TCC and Ether input have the same dollar value You can add to the pools with an equal value of each token |
| What is the Automanted Market Maker Method (AMM)? | while you buy curr A from the pool by selling curr B, price of A increases and price of B decreases to maintain ratio DEX estimates value of each token based on starting val and ratio |
| What's the problem with the Automanted Market Maker Method (AMM)? | if we buy almost all of asset A, DEX thinks asset B is REALLY valuable, we can abuse that to make back all our deposit plus more |
| What is the Constant Product AMM? (CPAMM) How is it different from AMM? | Given x of one commodity, y of the other, we have k = x*y, and when we exchange, we must keep k the same when we calculate how much to pay out because of k, we can't abuse CPAMM in the same way as AMM |
| What is arbitrage trading? in what scenario is it possible? how is it useful? | when the exchange ratio/price in one pool goes down, but other pools have better rate, we can get curr A from pool X, then sell it to pool Y for a profit useful bc can help equalize exchange rates between DEXs |
| What is a liquidity provider? how can they add liquidity to a CPAMM DEX? | someone who puts $ into a liquidity pool, and gets part of the fees generated by the DEX as a reward to add liquidity to a CPAMM DEX, they must add in the current ratio, then we must increase k |
| What is routing in the context of DEXs? | if we want to exchange one token for another token (not Ether), often DEXs convert tokenA to Ether, then Ether to tokenB, and give you tokenB |
| What are some pros/cons to using DEXs? | Pro: no KYC (know your customer), decentralized, lower fees, faster than centralized, open src Con: not insured, no customer support, might have low liquidity, open src |
| What is KYC? | know your customer, govt requires all entities they contraol to know their customers' ID info for tax issues |
| what are some reasons why people might NOT want to join a liquidity pool? | rug pulls, bugs cause $ loss, IMPERMANENT LOSS |
| What is a DAO and what is it used for? | Decentralized Autonomous organization, used to manage cryptos or form a group that votes on proposals on how to manage funds Membership determined by owning NFT or token |
| what is a recursive spend attack, and what is an example of that happening in the real world? | when the receive function can call the paying function of another contract multiple times and get paid more than intended this happened to The DAO when they tried to create a child DAO, but they couldn't stop the attack as the DAO was being funded |
| What were the impacts of the attack on The DAO? | Caused a hard fork in the Etherium blockchain - Etherium classic kept moving on, but the other chain (the one in use mostly today) rolled back the blockchain to undo the attack |
| What is a whale? What power do they have in a cryptocurrency context? | someone who owns a large amount of a given currency, and their trades would significantly affect price |
| What did the JUNO coin do relating to whales, and why was it controversial? | A whale was made who aggregated a bunch of airdrops (free currency give-aways), so the JUNO DAO voted to take away the whale's assets |
| what is the diff between a collateralized and uncollateralized stablecoin? | collateralized = backed by financial investment, uncollateralized/undercollateralized: no collateral or not as much collateral as value of minted coin |
| what is the diff between a centralized and decentralized stablecoin? | centralized - controlled by a single company/entity decentralized - controlled by an algo, DAO, group |
| what is a peg, and what does depegging mean? | peg = when price of a coin matches the price of another asset (usually USD) |
| Explain (or give ex) of a collateralized + centralized stablecoin. What are some cons? | Ex: Tether, USDC single entity managed, money used for purchasing coin saved somewhere retrievable cons: entities can deposit your money wherever they want, not clear how much collateral there is, not regulated |
| explain uncollateralized + centralized stablecoins. Given an example and explain the cons | ex: petro single entity runs, but without any backing (so like fiat curr) con: usually only doable by a govt, so trackable and no real benefits over something like a credit card |
| Explain collateralized + decentralized using DAI as an example. Who manages the coin, and how to you buy the coin vs how do you get your assets back? | DAI = managed by a smart contract (Maker DAO) to buy DAI: make a vault with one asset, and the DAO locks it in exchange for DAI to get deposit back: pay back DAI plus stability fee to get your assets |
| How is DAI an example of collateralized debt position? What does that even mean | the contract holds assets, then DAI serves like an IOU for the amt you're owed back |
| is DAI over-collateralized, collateralized, undercollateralized, or uncollateralized? | over-collateralized, since the assets are worth more than the DAI that's been distributed |
| what is the target rate feedback mechanism as relating to pegs? | how to keep the price at the peg if the price drops, supply is too high so increase target rate to make it more expensive to mint if price rises, too little supply, so decrease target rate to make it cheaper to mint |
| what is DAI liquidation? | MakerDAO votes on what assets too risky, determined by a liquidation ratio, and if it liquidates assets it deems too risky, MKR is minted to make up the shortfall |
| How does DAI keep its peg stable? | stability fees taken on withdrawls adds extra collateral, liquidation if a vault's assets are too low, target rate feedback mechanism |
| what is a coefficient of variation (context - looking at cryptocurrency coin value) | shows how much variability the coin price has relative to the average price |
| explain how uncollateralized + decentralized coins work? Give an example | little/no collateral, managed by a DAO usually since no collateral, some coins (like FEI) don't allow you to withdrawl your collateral |
| how do normal uncollateralized/decentralized coins like Fei react if their price is above/below the peg? | if price above the peg: mints more coins if price below the peg: uses assets to buy Fei coins |
| What is the difference between seigniorage coins and regular uncollateralized/decentralized coins? | both react the same if the price is above the peg, but if the price falls below the peg, seigniorage coins issue bonds/IOUs at a lower rate OR burn coins |
| What is a big con to seigniorage coins, especially like Tomb? | death spirals - if price drops, they issue IOUs, but if the price keeps dropping, price keeps decreasing and people lose faith, so can't get back to the peg |
| What's the deal with FRAX? | its a fractional algorithmic coin if the value drops below the peg, uses more collateral if the value is above the peg, it uses more algorithmic |
| what is an oracle? | smart contract that can view/deliver information from outside the blockchain |
| how are prices updated in an oracle? how can that be vulnerable | either 1 signer updates or a group of signers work together to update. if a group of signers is updating, we take the mediam of the proposed prices |
| what's the difference between a normal oracle and a schelling oracle? how are schelling oracles vulnerable? | in a schelling oracle, each signer puts a stake on their vote, and the value with the highest stake is accepted. schelling are vulnerable bc a whale can stake a lot and have their price accepted |
| **case study of terra** what's the relationship between LUNA, Terra, and USTC? what's unique about how that ecosystem works? | Terra = ecosystem, LUNA = coin, USTC = stablecoin Terra has a shuttle/bridge to talk to Etherium, so if you transfer assets to one contract, it can give you coins on the other blockchain |
| Explain the set up of the abracadabra degenbox, and how that was exploited with the LUNA/Terra ecosystem | Degenbox: allows users to stake with any currency and generate interest on it degenbox kept some assets on etherium, but converted rest to anchorUST on Terra looping: used anchor to borrow more terra stablecoin, then get more anchor... inflates demand |
| what is the "trilemma" of growing crypto coins? | security, decentralization, scalability |
| what are the 4 blockchain layers we covered? | 0: network (p2p, internet) 1: implamentation (how blkchain is formed, consensus, evm, etc) 2; execution (smart contracts, dApps) 3: application (user tools) |
| why is layer 1 scaling "on the chain"? what are some examples, and their potential drawbacks | some aspect of the currency itself has to change bigger blocks (delays for node compute) faster block creation (increases circulation w/ rewards) change consensus (likely need another change too) |
| how is the bitcoin segregated witness an example of a layer 1 scale? | it changed the block structure, and it allowed txns to be smaller, so more could fit in each block |
| what are some examples of layer 2 scaling? What does that mean? | making changes outside of the foundational structure lightning network on BTC polkadot sharding layer 2 rollups |
| what is sharding? what kind of blockchains can use it? How does etherium plan to use it? | splitting the blockchain into different pieces main chain holds block hashes only, miners/validators work off of just one chain etherium trying to implement with beacon as main chain, curr etherium chain would be first shard |
| explain how layer 2 rollups work. What are the two different kinds? cons for each? | execute txns off chain, collect data, rollup data into one batch for main chain optimistic rollup: assume data is valid, do a fraud proof (LONG) if not zk-rollup: zk proof to show rollup is valid, hard computationally + hard to implement |
| explain how the BTC lightning network works. What pros and cons does it have? | two parties make a payment channel + commit money to the network parties do txns off the chain when channel closes, people settle up pro: faster, lower fees, lowers load on main chain cons; not widely used, vuln to attacks |
| what is a big competitor for the BTC lightning network? | wrapped bitcoin, works like an ERC-20 token which is already faster than bitcoin and more widely supported |
| how do etherium state channels work? | similar to btc lightning network; contract locks funds, txns off the chain |
| What is a unique feature about Stellar Lumens? | Proof of history, nodes agree on an order of items in blockchain, really fast |
| What is a unique feature/notable about Polygon? | uses Eth contracts to move Ether to polygon sidechains contract accumulates balance, polygon reads the balance side chains have custom rules/custom community |
| what is a unique feature/notable about polkadot? | like polygon with sidechains, has bridges between different blockchains so you can exchange messages |
| can race conditions happen when mining blocks? when reading blocks? | when mining yes - order of txns can result in different outputs when reading block NO - order on block is the set order of txns |
| Why can reading the current state of the blockchain be really slow? | it's held in the EVM, and if you need to run everything sequentially, it takes a while |
| how can you use concurrency and speculation to make reading the blockchain faster? | speculation: execute 2 txns in parallel usign read/write locks. If there's a conflict, you rollback the txns and run sequentially you can place many read locks, but only one write lock |
| How could miners add concurrency info into the blockchain? what layer would that impact | layer 1 -they could add a field into the block to say the first "p" txns can be run in parallel |
| what is one way, other than adding in concurrency info into blocks, that we can speed up block synching? | allow the evm to have atomic data types, split contract memory into read and write |
| how is the ali baba cave an example of an interactive verification process? how could it be doubted? | two parties must interact, and the one with the key is verifying they know how to get through the door, but NOT showing anything concrete. doubted bc it could be staged |
| What is an example of an interactive proof? | where's waldo - he SHOWED another party that he knew what waldo was still could be doubted bc it could be staged |
| what are three qualities of a zero knowledge proof? | completeness (verifier almost certian prover knows the value) soundness (can't prove you know faked information) zero-knowledge (nothing revealed about the info you're proving you know) |
| what are non-interactive proofs and why are they ideal? | prover can verify without interacting with the verifier, ideal bc prover does most of the work beforehand, and the verifiers easily verify on the ntwk |
| what is a zk-snark? what are its goals? | zero knowledge non-interactive proof goals: blindness (learn nothing abt other party), verifiability |
| what is a homomorphic hiding? | encryption scheme to transform x called E(x) we can do math with hidings to show relationships between values without exposing the values or even knowing them |
| what's unique about zcash? how do they handle transactions? | did "the ceremony" have regular/tracable addr and shielded/zk addresses can shield/unshield transactions or be totally private/public |
| what's notable about zcoin? | also used zk proof protocol, but was exploited |
| what is money laundering? | moving large amounts of illegal money into legitimate sources |
| how can crypto be used for bad things? | avoiding sanctions bc not trackable paying for illegal things |
| What is impermanent loss? | ratios determining the exchange rate and value of currency you put into a DEX/liquidity pool drops, so you lose money if you were to withdrawl compared to if you just held your currency outside the liquidity pool |
Created by:
megank0623