# Glossary

## Tezos <a href="#id-3crv" id="id-3crv"></a>

Tezos is smart money, redefining what it means to hold and exchange value in a digitally connected world. A self-upgradable and energy-efficient Proof of Stake blockchain with a proven track record, Tezos seamlessly adopts tomorrow's innovations without network disruptions today. For more information, please visit [tezos.com](https://tezos.com/).

## PNLP <a href="#id-3crv" id="id-3crv"></a>

PNLP is the LP token for the new Plenty volatile and stable AMMs.

## Trading fee <a href="#admin-fee" id="admin-fee"></a>

The fees is 0.05% for both volatile and stable swap. When a liquidity pool has a gauge and bribe contract attached to it the trading fees don't accumulate in the liquidity pool. The Trading fees can be claimed on a weekly basis by `vePLY` NFT holders when they vote for a liquidity pool.&#x20;

Liquidity provision across liquidity pools would work in the standard way, with all providers receiving associated liquidity provider (LP) tokens. LP tokens can be staked in a corresponding gauge.&#x20;

All trading fees generated on plenty.network go to users that voted for the gauge attached to a given liquidity pool. This approach creates a powerful incentive whereby liquidity pools that generate the most fees will also attract the more voters and thus the more `PLY` emissions.

## Boosting <a href="#boosting-also-boosties" id="boosting-also-boosties"></a>

Attaching your `vePLY` NFT to your LP token stake to earn up to 2.5x more `PLY` on your provided liquidity.

{% content-ref url="/pages/4ZRxIELlbjfhwJJRXvKa" %}
[Understanding Boosting](/v2-docs/plenty-v2-introduction/understanding-boosting.md)
{% endcontent-ref %}

## PLY <a href="#crv" id="crv"></a>

Governance token of plenty.network.

## vePLY <a href="#vecrv" id="vecrv"></a>

Stands for vote escrow `PLY`. `VePLY` is an NFT that represents `PLY` locked for a specific duration for the purpose of voting, claiming fees, and claiming bribes.

{% content-ref url="/pages/ctsWesTb1gfKINzTdK7l" %}
[Understanding PLY & veNFTs](/v2-docs/plenty-v2-introduction/understanding-ply-and-venfts.md)
{% endcontent-ref %}

## DeFi (Decentralized Finance) <a href="#defi-decentralized-finance" id="defi-decentralized-finance"></a>

Decentralized finance (commonly referred to as DeFi) is an experimental form of finance that does not rely on financial intermediaries such as brokerages, exchanges, or banks, and instead utilizes blockchains, like for example Tezos.

## LP (Liquidity provider) <a href="#lp-liquidity-provider" id="lp-liquidity-provider"></a>

Users providing liquidity (funds/assets).

## LP tokens (Liquidity provider token) <a href="#lp-tokens-liquidity-provider-token" id="lp-tokens-liquidity-provider-token"></a>

When you deposit into a Plenty liquidity pool, you receive a counter party token which represents your share of the pool.

## Gauge

A gauge is a fancy crypto term for defining how much of the PLY rewards an LP can earn when providing liquidity to a Plenty liquidity pool. The higher the votes for a gauge, the more PLY can be earned by staking LP tokens in a gauge.

The gauge is an instrument to measure which liquidity pool is weighted most heavily with rewards. Voting for gauges occurs weekly.

## Epoch

A period of time between changes in the gauge weights. An epoch in the new ve system of Plenty is one week.


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