Glossary

• NFT: A non-fungible token (NFT) is a unit of data stored on a blockchain (a digital ledger) which can represent a unique digital item. NFTs are not mutually interchangeable, i.e., not fungible.

• APR stands for Annual Percentage Rate. It indicates the percentage of interest that will be obtained in a year, without considering compound interest. It depends exclusively on the initial investment.

• IRL: In Real Life.

• Cryptocurrency: Cryptocurrencies are digital currencies that use cryptographic technologies to secure their operation.

• Vault: Vault NFTs are digital tokens that represent ownership of physical items.

• DeFi: Decentralized finance (DeFi) is an emerging financial technology based on secure distributed ledgers similar to those used by cryptocurrencies.

• CeFi: CeFi, short for centralized finance, offers some of the yield benefits of DeFi with some of the ease of use and security of traditional financial-services products. With CeFi, you can earn interest on savings, borrow money, spend with a crypto debit card, and more.

• Whitelist: A list of interested participants in an initial coin offering, who registered their intent to take part or purchase in a sale.

• Floor price: The floor price is the lowest price at which a product, good, commodity, or service can be sold. It’s determined by market forces of demand and supply.

• Mint: Minting is the process of generating new coins using the proof-of-stake mechanism and adding them to the circulation to be traded.

• Claim: To demand or ask for as rightfully belonging or due to one.

• Exchange: permanently removing a number of tokens from circulation, bringing it back to the group.

• Stake: Participation in a proof-of-stake (PoS) system to put your tokens in to serve as a validator to the blockchain and receive rewards.

• Capital: Capital is most commonly defined as the large sum of money you would use to invest.

• Deposit: A crypto deposit is similar to a conventional savings account in a physical bank, but in this case, it is not your fiat money that brings interest, but your cryptocurrency assets.

• Claim: The action through which you obtain your capital gains or NFTs.

• Withdraw: A crypto withdrawal is a transaction that allows you to move your cryptocurrency balance off the Reef platform to an external crypto wallet that you control.

• Referral code: A referral code (or referral tracking code) is a unique combination of numbers and/or letters used to identify the participants in a customer referral program. Referral codes are assigned to every customer (the referrer) as soon as they join a program.

• Administrative fee: An administrative charge or fee is an expense charged to cover costs associated with opening, maintaining, changing, or closing an insurance policy.