| Term | Meaning |
|---|---|
| All trades (P&L) | Your result from everything you’ve bought and sold on a coin. |
| ATH (all-time high) | The highest price or market cap a coin has ever reached. |
| Bonding curve | The formula that sets a new coin’s price before it graduates: the more that has been bought, the higher the price. See Price and graduation. |
| Call / shill | A post on a coin you hold, saying you like it. Calls are scored on the Best callers board. See Notes, shills and following. |
| Copy | A coin that used the same ticker, name or picture as an earlier coin launched in the 7 days before it, or one still trading. See Original and Copy. |
| DEX | A decentralised exchange: an app where people trade from their own wallets, such as Uniswap or Raydium. |
| Dev | The person (and wallet) that created a coin. |
| Dev buy | A buy the creator makes in the same transaction as the launch, so nobody can buy before them. Capped at 50% of the supply on 2hour.fun. |
| Dev lock | A dev’s own coins put in a time lock nobody can open before its time, or burned for good. See Lock your dev buy. |
| Fumble | Selling a coin that then went on to at least double. Fumbles have their own leaderboard. |
| Gas / network fee | A small fee paid to the blockchain for processing a transaction. |
| Graduation | When a coin’s bonding curve fills up and its trading moves to a pool on a DEX, with the liquidity locked. |
| Holder | Any wallet that holds some of a coin. |
| Insider | A wallet close to the creator: their linked wallets, wallets they sent the coin to, or very early buyers. See Safety badges. |
| Launch window | The 2 hours each day when new coins can be created. See The launch window. |
| Liquidity | The funds in a pool that let people buy and sell. Locked liquidity can never be withdrawn. |
| MC (market cap) | A coin’s price multiplied by its total supply: a quick way to compare coins of different prices. |
| Open P&L | What you hold of a coin now, at today’s price, minus what it cost you. |
| Original | A coin whose ticker, name and picture weren’t used by any earlier coin launched in the 7 days before it, or still trading. |
| Pair | What a coin trades against: ETH, SOL, a stock token or a stablecoin. See Chains and pairs. |
| P&L (profit and loss) | How much a position is up or down. Realised P&L comes from what you’ve sold; unrealised is what you still hold, valued at today’s price. |
| Pool | A shared pot of a coin and its pair on a DEX that trades happen against. |
| Private key / seed phrase | The master password to a wallet. Never share it. |
| Refund pot | The pot, built from part of 2hour.fun’s fees, that the Refund Bot pays refunds from. See The Refund Bot. |
| Reservation | A launch booked while the window is closed, by prepaying half the launch fee. See Reservations. |
| Round trip | Being well up on a coin, holding through the peak, then giving most of it back. |
| Rug (rug pull) | When insiders sell or remove funds suddenly, leaving other holders with a coin worth far less. |
| Slippage | How far the price may move between pressing the button and the trade going through. If it moves further, the trade is cancelled. |
| Sniper | A wallet that buys within the first 10 seconds after a coin launches. |
| Stablecoin | A coin designed to stay at $1, such as USDC or USDG. |
| Stock token | A token that tracks the price of a share, such as Tesla. |
| Supply | How many of a coin exist in total. Coins on 2hour.fun have a fixed supply. |
| Test drive | Ten simulated 2-minute rounds a day with a $1,000 practice balance. Simulated market. Not real money. See Test drive. |
| Ticker | A coin’s short symbol, like $DOG. |
| Trade fee | The 1% fee on every trade, shared between 2hour.fun and the coin’s creator. |
| Whale | A holder with a large share of a coin: 2% or more of the supply in the holder tags. |
| XP | What you earn from trading, badges and challenges. It raises your level. See XP, levels and badges. |
More
Glossary
The words and short forms you’ll see around 2hour.fun, in plain English.