# Glossary of terms

**Blockchain:** A decentralized and distributed digital ledger used to record transactions across multiple computers.

**Buyback-and-Burn:** A mechanism that involves repurchasing tokens from the market and permanently removing them from circulation to increase scarcity and value.

**Closed-Loop Economy:** An economic system where all profits generated are reinvested within the protocol to maintain continuous growth.

**Decentralized Finance (DeFi):** Financial services operating without centralized intermediaries, often using smart contracts on a blockchain.

**Fixed Staking:** A staking method that earns shares immediately for a predetermined period while locking the tokens.

**Flexi Staking:** A flexible staking option where tokens accrue shares monthly and can be unlocked at any time.

**Rewards Pool:** The fund from which staking participants receive their share of rewards based on their staking tier.

**Smart Contracts:** Self-executing contracts with the terms directly written into lines of code on the blockchain.

**Stablecoin:** A type of cryptocurrency pegged to a stable asset (like USD) to minimize price volatility.

**Staking:** The process of locking up a specific amount of cryptocurrency in a wallet to earn rewards.

**Staking Tiers:** Different levels of staking tiers that require varying amounts of tokens, offering access to rewards pools.

**Tokenomics:** The economic design and distribution of tokens within a specific blockchain ecosystem.

**Treasury:** The fund managed by the protocol for ongoing product and company development.

**WOW Token:** The primary digital asset developed by Wealth of Wisdom for participation in their decentralized ecosystem.

**WOW Wealth Protocol:** The system that determines how funds and profits are allocated within the Wealth of Wisdom ecosystem.


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