Research · Trading Glossary
Trading Glossary
Plain-English definitions of the trading terms that start with U.
U
- Ultimate Beneficial Owner (UBO)
- The natural person who ultimately owns or controls a corporate customer.
- Uncle Block (Ommer)
- In Ethereum's proof-of-work era, a stale block that was still referenced and partially rewarded to reduce the advantage of large mining operations.
- Unlimited Approval
- An allowance set to the maximum possible value, avoiding repeat approvals but leaving a standing risk if the approved contract is compromised.
- Unlock
- A scheduled release of previously locked tokens. Large unlocks are closely tracked for their supply impact.
- Upgradeable Contract
- A contract whose logic can be replaced, typically via a proxy pattern. Adds flexibility and introduces governance and trust considerations.
- Uptime / Service Level Agreement (SLA)
- Contractual availability commitments and the remedies for failing to meet them.
- UserOperation
- A pseudo-transaction object in ERC-4337 expressing a user's intent, submitted to an alternative mempool.
- Utility NFT
- An NFT conferring access, entitlements, or functional rights beyond the asset itself.
- Utility Token
- A token whose stated purpose is access to a product, service, or network function.
- Utilization Rate
- The proportion of a lending pool's deposits currently borrowed. The primary input to interest rate models.
- UTXO (Unspent Transaction Output)
- The accounting model used by Bitcoin, in which the ledger is a set of discrete unspent outputs. Transactions consume existing outputs and create new ones.