AMM: Automated Market Maker. An algorithmic system to allow for non-custodial swaps of cryptocurrencies.
Bridge: An app that allows you to lock tokens from a different blockchain and receive the SecretToken equivalent to use inside Secret Network. Currently, Ethereum is supported on mainnet, Binance Smart Chain is supported on testnet and other bridges are in development.
Constant Product Formula: The AMM algorithm used by SecretSwap.
LP tokens: Tokens that a Liquidity Provider receives when providing tokens to a liquidity pool, representing the LP's portion of the liquidity pool.
LP: Liquidity Provider. A member of the SecretSwap community that has provided tokens to the liquidity pools that drive SecretSwap.
Liquidity Provider Fees: The fee incurred for each swap executed in SecretSwap, to reward Liquidity Providers. It is currently 0.3%.
Network Fees: The fees that are required to execute transactions and secret smart contracts on Secret Network. These fees are paid in SCRT tokens.
Pair: A secret smart contract that enables trading between two SNIP-20 tokens.
Price Impact: The impact the size of your trade will have on the liquidity pool and therefore on the price you will ultimately pay.
SNIP-20: The Secret Network standard for tokens, based on the Cosmos CW-20 standard.