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  • 🌐WELCOME TO PLANET IX
  • 🕹️PLANET IX
    • What is Planet IX
    • Prologue / Lore
  • 🏅HOW TO START
    • 1. Introduction
    • 2. How to buy IXT
    • 3. Trade Land
    • 4. Stake land in Mission Control
      • 1. Acquire Tile Contracts for Mission Control
      • 2. Stake Tile Contracts
      • 3. Stake PIX in Mission Control
    • 5. How to Collect Waste
    • 6. Refine Waste at EternaLab
    • 7. Refine Waste at GWS
  • 🎯MID GAME
    • Explore and Utilize Gameplay
    • Road 1 - Build Facility
      • Why build Facilities?
      • New land corp -> Add tiles
      • Show tile map -> talk Drones
      • Tile contract B - renting
      • Out-put generating
      • Build Facility
    • road 2 - PIX & teritory
      • What is a Territory
      • How to build a Territory
      • How to stake Territory
      • Explaining the benefit of incorporating territories into mission control
  • 🏛️CORPORATION HUB
    • Global Waste System
    • Gravity Grade
    • NewLands
    • EternaLabs
    • HaveBlue
    • Lucky Cat
  • 🌎GAME STATIONS
    • NET EMPIRE
    • MISSION CONTROL
    • IX FOUNDATION
  • 💰GAME ASSETS
    • Items
      • Drones
      • Facilities
      • Rovers
    • Building Material
      • Bio-M0ds
      • Energy
      • Tile Contracts
      • Landmarks
      • PIX
    • Coins
      • Astro Credits
      • Loot Crates
      • Raffle Tickets
      • Waste
      • Astro Gold
      • AoC Badges
      • Genesis NFTs
      • METASHARES
  • 🆕NEW TO CRYPTO
    • Polygon
    • Free To Play (F2P)
    • NFTS
    • How do cryptocurrencies work
    • Advanced Glossary
  • ⛓️ON CHAIN
    • 🎮Contracts
    • 🎰Chain-link VRF
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On this page
  • APY
  • DEFI (Decentralized Finance)
  • LP / Liquidity Provider
  • Smart Contract
  • Stake
  • Treasury
  • Vault
  • Yield Farming

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  1. NEW TO CRYPTO

Advanced Glossary

For all the new crypto fanatics

APY

Annual percentage yield

DEFI (Decentralized Finance)

Decentralized finance is a concept where financial products are available on a public decentralized blockchain network making them open to anyone to use rather than going through a middleman like banks or brokerages. Unlike a bank or brokerage account, a government-issued ID, social security number, or proof of address are not necessary to use DeFi. More specifically, DeFi refers to a system where software written on blockchains makes it possible for buyers and sellers and lenders and borrowers to interact peer to peer or with a strictly software-based middleman rather than a company or institution facilitating a transaction.

LP / Liquidity Provider

Yield farming is closely related to a model called automated market maker (AMM). It typically involves liquidity providers (LPs) and liquidity pools. In simple terms, it means locking up cryptocurrencies and getting rewards. In some sense, yield farming can be paralleled with staking. However, there’s a lot of complexity going on in the background. In many cases, it works with users called liquidity providers (LP) that add funds to liquidity pools.

Smart Contract

Blockchain smart contracts allow for the creation of trustless protocols. This means that two parties can make commitments via blockchain, without having to know or trust each other. They can be sure that if the conditions aren't fulfilled, the contract won't be executed. Other than that, the use of smart contracts can remove the need for intermediaries, reducing operational costs significantly.

Stake

Stake is defined as an amount of cryptocurrency deposited by the user as collateral. For some cryptocurrencies, the stake is a requirement to become eligible to record and verify the correctness of transactions. Their incentive is earning fees paid by every user, for each transaction.

The in-game wallet processor minting uUSD for BTC and Transmuting it back to crypto.

Treasury

The in-game wallet processor minting pUSD from for crypto payments and its possible to Transmuting it back to crypto.

Vault

The in-game wallet processor minting pUSD from for crypto payments and it's possible to swap it back to crypto.

Yield Farming

Yield farming, also referred to as liquidity mining, is a way to generate rewards with cryptocurrency holdings. In simple terms, it means locking up cryptocurrencies and getting rewards. In some sense, yield farming can be paralleled with staking. However, there’s a lot of complexity going on in the background. In many cases, it works with users called liquidity providers (LP) that add funds to liquidity pools.

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Last updated 3 years ago

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