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The Symbol Handbook

Everything you need to know about the Symbol Syndicate.


List of codenames, acronyms, lingo and crypto-specific words not everyone is familiar with.
Name Context Definition
AGORA symbol The codename for a decentralized, peer-to-peer marketplace built on Symbol to enable the trading of mosaics.
AMA internet Ask Me Anything. An open questions session.
AML economy Anti-Money Laundering
ANDROMEDA symbol The codename for a workflow product by NEM that enables users to visually architect and deploy dApps.
APAC internet Asia and Pacific region
APR economy Annual Percentage Rate.
ARBITRAGE crypto When a trader purchases an asset in one place and sells it in another place to profit from a deviation in natural prices between markets.
BACKRUNNING crypto To broadcast transactionA with slightly lower gas (or fees) than an already pending transactionB so that transactionA gets mined right after transactionB in the same block.
BLS crypto A Boneh–Lynn–Shacham signature is a cryptographic signature scheme which allows a user to verify that a signer is authentic.
BTC crypto Bitcoin
CBDC crypto Central Bank Digital Currency
CMC crypto Coin Market Cap. A web page.
CSD crypto Central Securities Deposit
DAO crypto Decentralized Autonomous Organization
DDH crypto Decisional Diffie-Hellman
DEFI crypto Decentralized Finance
DEX crypto Decentralized Exchange.
DD economy Due Diligence
DID crypto Decentralized ID
DTC economy Direct To Consumer, i.e. mass market
E2E crypto End-To-End
EMEA internet Europe, Middle-East and Africa
ERC crypto “Ethereum Request for Comment”. Commonly utilized to refer to a token standard on the EVM (such as ERC-20, ERC-721, ERC-1155).
ETH crypto Ethereum
EVM crypto Ethereum Virtual Machine
FFT crypto Fast Fourier Transform
FLASHBOTS crypto A research and development organization working on mitigating the negative effects of MEV extraction techniques.
FRONTRUNNING crypto In context of cryptocurrencies: crypto: Trying to include your transaction in front of some other transaction. This is more important in case of DeFi markets, where gains can be made from front-running.
FWIW internet For What It’s Worth.
HERMES symbol Messenger of the Gods. Codename for Symbol’s next wallet project.
ICO crypto Initial Coin Offering
IVC crypto Incrementally Verifiable Computations
IP internet Intellectual Property
IRS economy Internal Revenue Service. Who you pay your taxes to if you live in the US.
KAIROS symbol From Ancient Greek: “The right, critical, or opportune moment.” The codename for a collectible card game, built on top of Symbol. Kairos.
KYC economy Know Your Customer
LATAM internet Latin America (Central and South America)
M&A economy Mergers & Acquisitions (NOT a chocolate candy)
MEV crypto Miner-Extractable Value – process of reorganising transactions inside a block by miners, to gain something (might be covered by secret contract)
MOSAIC symbol A representation of any kind of value on Symbol (both fungible and non-fungible).
MULTISIG symbol Multi-signature. A Symbol account requiring more than one signature to operate.
NAM internet North America
NEM symbol The new economy movement
NGL symbol NEM Group Limited
NFT crypto A non-fungible token – a way to represent anything as an Ethereum-based asset.
NSL symbol NEM Software Limited
OPTIMISTICROLLUPS crypto An Ethereum layer 2 scaling solution. Optimistic Rollups.
PERSEUS symbol The codename for a end-to-end simulation platform by NEM that allows backtesting of network upgrades. Will launch with Symbol support but other blockchains can be added.
SHARDING crypto An Ethereum scaling solution. Sharding.
POC internet Proof of Concept (NOT a consensus protocol).
POI crypto Proof of Importance. The consensus protocol used by Symbol. Similar to PoS but measuring an account’s activity besides its stake.
POS crypto Proof of Stake. A consensus protocol.
POW crypto Proof of Work. A consensus protocol.
RUG PULL crypto A malicious maneuver where cryptocurrency developers abandon a project and run off with the funds.
SANDWITCH crypto A type of front-running technique that’s popular in DeFi. To make a sandwich, you find a pending transaction in the network and then try to surround the network by placing one order just before the transaction (front-running) and one order just after it (back-running).
SXDH crypto Symmetric External Diffie-Hellman
TOKEN economy A voucher or gift card redeemable for items of value.
TOKEN crypto Certain types of cryptocurrency, typically different from the main currency of a blockchain.
TPS crypto Transactions Per Second
XEM symbol NEM’s NIS1 blockchain native currency
XYM symbol NEM’s Symbol blockchain native currency