> For the complete documentation index, see [llms.txt](https://docs.dexponent.com/llms.txt). Markdown versions of documentation pages are available by appending `.md` to page URLs; this page is available as [Markdown](https://docs.dexponent.com/glossary.md).

# Glossary

| Term              | Meaning                                                                                                       |
| ----------------- | ------------------------------------------------------------------------------------------------------------- |
| DTF               | Dexponent's onchain strategy vault, with its own share token.                                                 |
| Manager           | The participant who creates and operates a DTF's strategy.                                                    |
| LP                | Liquidity provider: a participant depositing capital into a DTF.                                              |
| Base asset        | The configured asset used for DTF deposits, accounting and redemptions.                                       |
| DTF share         | A token representing participation in one DTF; its value can rise or fall.                                    |
| NAV               | Net asset value: the value of assets after relevant liabilities and adjustments.                              |
| NAV per share     | NAV divided by the applicable share supply.                                                                   |
| AUM               | Assets under management; an increase can come from deposits as well as returns.                               |
| High-water mark   | The DTF-level share-value threshold used in performance-fee accounting.                                       |
| Performance fee   | A configured share of qualifying gains, represented by fee shares in the current design.                      |
| Slippage          | The difference between an expected and executed trade price or output.                                        |
| Rebalance         | Trades that move an Index DTF toward target weights.                                                          |
| Perpetual         | A derivative with no scheduled expiry; margin and funding rules apply.                                        |
| Funding           | Periodic payments associated with perpetual positions; paid or received depending on the position and market. |
| Queued redemption | A withdrawal request awaiting settlement rather than full immediate payment.                                  |
| bDXP              | Dexponent Beta Token, separate from production DXP and DTF shares.                                            |
| DXP               | The eventual production token; its broader design is deferred.                                                |

See [getting started](/getting-started.md) and [DTF types](/dtf-types.md).