Glossary
The vocabulary of markets, crypto, macro and our own method — defined plainly. Every term you’ll meet across The Distributed, in one place.
Author-trust score
MethodA per-account weighting that discounts bot-like and low-history accounts so a handful of noisy posters cannot move a reading.
Basis point
MacroOne hundredth of a percentage point. Rate moves are quoted in basis points: a 25 bp hike is a quarter of a percent.
Bull / neutral / bear split
MethodThe share of classified mentions scored positive, neutral and negative, summing to one hundred percent over the sample.
Cashtag
MarketsA ticker written with a dollar prefix, such as $NVDA. The lowest-ambiguity signal the pipeline extracts.
CBDC
CryptoA central bank digital currency — government-issued money in digital form, run on rails the central bank controls rather than a public blockchain.
Read the full explainerConfidence score
MethodA composite, calibrated score for each extracted entity, combining source, format, financial context and reference validation.
Coordinated activity
MethodA flagged spike in mentions driven by a small set of authors posting heavily — the pattern of a pump attempt rather than organic attention.
Core CPI
MacroCPI with food and energy stripped out — the steadier read the Federal Reserve watches for underlying inflation.
CPI
MacroThe Consumer Price Index — the headline US inflation gauge, tracking the price of a fixed basket of goods and services. We chart it year over year.
Crypto mining
CryptoThe work of validating proof-of-work blocks by spending compute; miners earn newly issued coins plus fees for each block they win.
Read the full explainerDAO
CryptoA decentralized autonomous organization — a project governed by token-holder votes executed through smart contracts instead of a boardroom.
Read the full explainerDeFi
CryptoDecentralized finance — lending, trading and yield built from smart contracts, with no bank or broker in the middle.
Read the full explainerERC-20
CryptoThe Ethereum standard most fungible tokens are built on; wallets and exchanges can support any ERC-20 token the day it launches.
Read the full explainerFinBERT
MethodThe sentiment model that scores each mention from negative one to positive one. Most reliable on formal financial text, weaker on sarcasm.
Form 4
MarketsThe SEC filing a company insider must submit after buying or selling their own stock. Our insider-trades tables are built from these.
Gas fee
CryptoThe fee paid to have a blockchain transaction processed; on Ethereum it rises and falls with network congestion.
Read the full explainerHalving
CryptoThe scheduled event that cuts bitcoin's new-coin issuance in half, roughly every four years.
Liquidity pool
CryptoA smart-contract reserve of paired tokens that traders swap against — pricing comes from a formula, not an order book.
Read the full explainerMarket cap
MarketsThe total value of a company's shares — share price times shares outstanding. The default sort for our market tables.
Mention volume
MarketsThe count of classified mentions of an entity over a window, summed across the tracked subreddits.
NER
MethodNamed-entity recognition. The model that identifies tickers, company names, ETFs and commodities in raw Reddit text.
Net sentiment
MarketsThe mention-weighted average sentiment for an entity over the window, on a negative one to positive one scale.
NFT
CryptoA non-fungible token — a unique on-chain record of ownership for one specific digital or real-world item, unlike interchangeable coins.
Read the full explainerOn-chain
CryptoActivity recorded directly on a blockchain — transfers, balances, contract calls — public and verifiable by anyone.
PPI
MacroThe Producer Price Index — inflation measured at the factory gate, before it reaches consumers. Often moves ahead of CPI.
Proof of stake
CryptoA consensus design where validators lock up tokens for the right to confirm blocks — misbehave and the stake is slashed.
Read the full explainerSample size
MethodThe number of classified mentions behind a figure, shown as n= on every reading so you can weigh it.
Seed phrase
CryptoThe ordered list of words that regenerates a crypto wallet's keys. Whoever holds the phrase holds the funds.
Read the full explainerShort interest
MarketsThe share of a company's tradable stock currently sold short — a rough gauge of how many traders are positioned against it.
Slippage
MarketsThe gap between the price you expected and the price you got — the cost of moving size through thin liquidity.
Read the full explainerSmart contract
CryptoCode deployed on a blockchain that executes automatically when its conditions are met — the building block of DeFi, NFTs and DAOs.
Read the full explainerSpot ETF
CryptoAn exchange-traded fund that holds the asset itself — such as bitcoin — rather than futures on it, so the share price tracks the spot market.
Stablecoin
CryptoA crypto token designed to hold a fixed value, usually one US dollar, backed by reserves of cash and short-term debt.
Read the full explainerTicker
MarketsThe exchange symbol for a security, such as NVDA. The canonical key the pipeline normalises every mention to.
Tokenomics
CryptoA token's economic design: supply, issuance, unlock schedule and how value is meant to accrue to holders.
Read the full explainerYear-over-year
MacroA reading compared against the same month a year earlier — the standard way inflation prints are quoted, and how our macro charts are drawn.
Yield curve
MacroTreasury yields plotted from short to long maturities. When short yields sit above long ones — an inversion — recessions have often followed.