AX Dictionary

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AX Dictionary
Read below to get accustomed to our community lingo (not in alphabetical order)
AX Coin
Definition: The AthleteX native Cryptocurrency. AX can be used to purchase APTs, stake/earn rewards, and vote on governance proposals.
You can purchase AX on SushiSwap and used to stake and propose/vote on governance proposals. 
You can stake AX and earn rewards for providing liquidity to the DEX.
You can use AX to mint APTs and Inverse APTs.
Athlete Performance Token (APT)
Definition: A synthetic token asset that represents a professional athlete's performance. Its price is solely determined by the athlete's in-game statistics.
Since APT prices are only determined by in-game statistics, they allow you to invest in an athlete's performance. APT prices are NOT affected by any other factors (supply/demand, market conditions, athlete net worth, athlete popularity, etc.).
AX APTs are comprised of Long Short Pair (LSP) contracts. The involves the minting of two separate derivative contracts: Long APTs and Short APTs. We adopted this system from UMA and work closely with their team to ensure success.
APTs can be purchased, sold, and traded anytime on our DEX platform.
Long APT
Definition: Price increases as athlete generates better statistics than the league average. You would buy a long APT if you expect an athlete's performance to improve.
For example, let's say you purchase a Tom Brady long APT at the beginning of the season. Brady then proceeds to have an amazing season consisting of 100 touchdowns and another Super Bowl title, generating above-average performance statistics. This would cause his long APT price to increase, creating a positive return on your investment. On the other hand, if Brady endured a bad season and generated below-average statistics, this would cause his long APT price to decrease and a negative return on your investment.
Short APT
Definition: Price increases as athlete generates worse statistics than the league average. You would buy a short APT if you expect an athlete's performance to diminish.
For example, let's say you purchase a Tom Brady short APT at the beginning of the season. Brady then proceeds to have a terrible season, generating below-average performance statistics. This would cause his short APT price to increase, creating a positive return on your investment. On the other hand, if Brady had a great season and generated above-average statistics, this would cause his short APT price to decrease and produce a negative return on your investment.
Staking
Definition: A way to put your crypto to work and earn rewards on it. Staking cryptocurrencies is a process that involves committing your crypto assets to support a blockchain network and confirm transactions. You can stake AX by depositing AX/APT pairs on our system to provide liquidity for our DEX. Stakers earn AX rewards for staking their coins over time - the longer you stake, the more you earn. You can not use or access your staked assets while they are staked, but you can unstake them at any time.
You can earn AX and GYSR rewards by staking your AX in our GYSR pools.
Staking is similar to the concept of a savings account - where you give a bank your money to a bank and earn interest from it. Similarly, when staking you provide your coins to a protocol and earn yield (rewards) from them.
Wins Above Replacement (WAR)
Definition: The formula used to calculate APT prices
Wins Above Replacement (WAR) is an attempt to summarize a player’s total contributions to their team in one statistic.
WAR is not meant to be a perfectly precise indicator of a player’s contribution, but rather an estimate of their value to date. Given the imperfections of some of the available data and the assumptions made to calculate other components, WAR works best as an approximation. A 6 WAR player might be worth between 5.0 and 7.0 WAR, but it is pretty safe to say they are at least an All-Star level player and potentially an MVP.
What is WAR adapted from FanGraphs.com​
Mint
Definition: Create long and short APT pairs by providing AX liquidity to the DEX. Once you create a pair, you can either:
Keep the APTs as a neutral position
Deposit them on the Earn tab in our DEX
Swap them for other tokens on the Swap page in our DEX
Redeem
Deposit: Expire long and short APT contract pairs. In return, you will receive their equal value in AX.
Decentralized Exchange (DEX)
Definition: A peer-to-peer marketplace where transactions occur directly between crypto traders. DEXs fulfill one of crypto’s core possibilities: fostering financial transactions that aren’t officiated by banks, brokers, or any other intermediary. Many popular DEXs, like Uniswap and Sushiwap, run on the Ethereum blockchain. The AthleteX DEX runs on the Polygon network - a Layer 2 sidechain built on the Ethereum blockchain. (Source)
The AthleteX DEX is a platform where users can trade APTs and iAPTs in a decentralized ecosystem. AthleteX is not a centralized entity that serves as an intermediary - instead, we provide an automated market maker (AMM) protocol for our decentralized community to use.
Automated Market Maker (AMM)
Definition: A type of decentralized exchange (DEX) protocol that relies on a mathematical formula to price assets. Instead of using an order book like a traditional exchange, assets are priced according to a pricing algorithm. (Source)
Decentralized Finance (DeFi)
Definition: The term decentralized finance, or DeFi for short, describes a financial system that operates without the need for traditional, centralized intermediaries. We're used to everything going through a bank and other financial institutions like a global exchange, but DeFi creates a system that can function on its own.
Cryptocurrency
Definition: A digital currency in which transactions are verified and records maintained by a decentralized system using cryptography, rather than by a centralized authority.
Starters
Definition: AthleteX users who only use our DEX to swap APTs, iAPTs, and other cryptocurrencies.
Starters can only earn from the positive performance of their investments.
All-Stars
Definition: AthleteX users who purchase and stake AX coin to earn rewards and vote in AthleteX governance proposals.
AthleteX All-Stars use put their AX to work by providing liquidity to the system (learn more about this in "Staking"). All-Stars can also earn rewards for providing liquidity on the GYSR protocol.
Hall of Fame (HOF)
Definition: AthleteX users who actively contribute to the AthleteX project. Join the AX Hall of Fame to earn AX coin by contributing to the community.
The AthleteX HOF consists of team members, advisors, affiliates, investors, and everyone else who directly contributes to the growth of our project. In return for their contribution, HOF members earn AX coin and/or other financial compensation.