> ## Documentation Index
> Fetch the complete documentation index at: https://docs.2hour.fun/llms.txt
> Use this file to discover all available pages before exploring further.

# Glossary

> The words and short forms you'll see around 2hour.fun, in plain English.

| 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](https://docs.2hour.fun/price-and-graduation.md). |
| **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](https://docs.2hour.fun/notes-and-following.md). |
| **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](https://docs.2hour.fun/original-and-copy.md). |
| **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](https://docs.2hour.fun/dev-lock.md). |
| **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](https://docs.2hour.fun/safety-badges.md#who-counts-as-an-insider). |
| **Launch window** | The 2 hours each day when new coins can be created. See [The launch window](https://docs.2hour.fun/the-window.md). |
| **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 Locked liquidity can never be withdrawn.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](https://docs.2hour.fun/chains-and-pairs.md). |
| **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](https://docs.2hour.fun/refund-bot.md). |
| **Reservation** | A launch booked while the window is closed, by prepaying half the launch fee. See [Reservations](https://docs.2hour.fun/reservations.md). |
| **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](https://docs.2hour.fun/test-drive.md). |
| **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](https://docs.2hour.fun/xp-levels-badges.md). |


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