M - P
M – P
M
Mainnet The live version of a blockchain network, where real assets and transactions occur, as opposed to a testnet.
Management Fees Fees charged for managing index operations, typically expressed as a percentage of AUM (Assets Under Management). (See Fee & Revenue Model for details.)
Market Cap Filter A threshold mechanism that excludes assets below a defined market capitalization, ensuring a minimum size and relevance for inclusion.
Market Capitalization (Market Cap) The total value of a token in circulation, calculated as Price × Circulating Supply. A core input in index weighting.
Market Maturity An assessment of how developed, stable, or institutionally adopted an asset or sector is.
Market Spread (Bid-Ask Spread) The difference between the highest price a buyer is willing to pay (bid) and the lowest price a seller is willing to accept (ask). Narrow spreads indicate higher liquidity and more efficient markets.
Mid Cap Digital assets with medium market capitalization, generally between $300 million and $1.5 billion. Often included in diversified or growth-oriented indices.
MiCA (Markets in Crypto-Assets Regulation) A European Union regulatory framework governing digital assets, stablecoins, and tokenized instruments.
Mint The process of creating new index units in exchange for deposits (e.g., USDC), executed via smart contracts.
Monte Carlo Simulation A statistical technique that models the probability of different outcomes by running numerous simulations. Commonly used in finance for risk modeling, backtesting, or stress testing.
Most Liquid Crypto Assets Digital assets with the highest trading volumes and narrowest spreads, generally prioritized for their execution efficiency.
Multi-Signature Controls (Multi-Sig) A security mechanism requiring multiple parties to sign off on sensitive transactions, such as treasury operations or protocol upgrades.
N
NAV (Net Asset Value) Represents the per-unit value of a fund or index. Calculated as the total market value of all assets minus liabilities, divided by the number of outstanding units. (See NAV Calculation for details.)
NAV Smoothing A technique to reduce short-term volatility in NAV calculations, often using TWAP (Time-Weighted Average Price) or VWAP (Volume-Weighted Average Price). (See NAV Calculation for details.)
O
Offchain Refers to operations or data stored outside of the blockchain.
Offchain Pricing Pricing information originating from external sources such as centralized exchange (CEX) APIs or databases, typically integrated via oracles. (See Oracle Infrastructure for details.)
OLTA Core Index A flagship index product focused on large-cap digital assets with strong liquidity and structural relevance. (See Core Index for details.)
OLTA Sleeve An internal allocation or mechanism within an index structure, which may include governance staking, buyback logic, or fee redistribution. (See Token Allocation Indices for details.)
Onchain Refers to activity that occurs directly on a blockchain, including minting, rebalancing, and execution of transactions.
Option Maturity The expiration date of a call or put option. Determines the remaining time value of the derivative.
Oracle Infrastructure A decentralized network of data providers and validators that delivers external information (such as prices) to smart contracts. (See Oracle Infrastructure for details.)
P
Performance Fees Fees calculated as a percentage of the profits or outperformance generated by a fund or strategy. (See Fee & Revenue Model for details.)
Perpetual Futures (Perps) A type of futures contract with no expiration date. Traders can hold positions indefinitely as long as margin requirements are met.
In traditional finance, all futures have a set maturity date.
In crypto, perpetual futures (“perps”) are more common, using a funding rate mechanism to keep their prices close to the spot market. Perpetual futures differ from standard futures contracts, which settle at a fixed date, and from options, which provide rights but not obligations.
Price Data Gaps Periods where market data is missing, delayed, or unstable. Risk systems and oracles may apply fallback or smoothing rules to compensate.
Price Feed External data used to determine an asset’s price, typically sourced from oracles aggregating multiple markets. (See Oracle Infrastructure for details.)
Private Round Investor Vesting A token release schedule for early investors, designed to align incentives and prevent immediate selling pressure.
Protocol TVL (Total Value Locked) The total value of assets locked in a protocol’s smart contracts, expressed in USD or stablecoins.
Prospectus A formal legal document describing the structure, rules, and risks of an investment product, used to provide transparency and regulatory compliance. (See Prospectus Framework for details.)
Put Option A derivative contract that gives the holder the right, but not the obligation, to sell an asset at a predetermined strike price before or on its expiration date. Put options are often used to hedge against falling prices or to speculate on declines. They are the opposite of call options, which give the right to buy. (See Option Module for details.)
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