Glossary
List of key terms related to Blockswap Network Protocols.
The wording used in some of our documents may be unfamiliar to our readers. Some of the more commonly used terms are listed below to help with your understanding of Blockswap Network. If you have additional questions regarding some of the documentation's explanations, please join our community Discord.
| Terms | Description |
|---|---|
| dETH | A derivative ERC-20 representing staked ETH within a validator offering slash protected yields. |
| SLOT Token | A derivative ERC-20 token representing management rights and network fee yields to an ETH2 validator. |
| Brand Central | Community Toolkit for Stakehouse coordination. Where staking is made social. |
| Staking | Participating in Beacon Chain validation. |
| Maximal Extractable Value Rewards (MEV) | MEV stands for revenue extracted from the transaction ordering process of Ethereum block production. This is based on specific commercial interests of network operators. Including (arbitrage, subsidy, or fast transactions, ect.). |
| Liquidity | The ability for an asset to be converted/redeemed to cash. |
| Synthetic Token | Synthetic tokens are price feed backed tokens whose value fluctuates depending on the tokens' reference. They require a peg and unsustainable and deep liquidity. |
| Management Rights | Operations and earned network revenue right of the validator. |
| Redeemable | Ability to clawback underlying assets. |
| Validator | Active operator with stake of 32 ETH performs block production/attestation on Beacon Chain. |
| Brand Manager | The entity which registered the Brand ticker with a KNOT - 32 ETH validator using Stakehousee protocol. |
| Goodie Bag | An NFT token set that comes with a KNOT. |
| Brand Ownership NFT | The NFT for the creator of the Stakehouse. |
| Middle Layer | A neutral technology stack for the blockchain ecosystem. |
| Proof of Stake (PoS) | The consensus mechanism by which the Ethereum blockchain is validated based on ETH deposits. |
| DeFi | Decentralized Finance. |
| Stakehouse | Is an AMM which acts as a registry for the Ethereum Deposit Contract & Beacon Chain validators. |
| Yield | Refers to the earnings generated or realized. |
| Fungibility | To be mutually interchangeable. |
| Ownership Keys | Private keys represent final control and ownership of digital assets. |
| Gas Fees | Network fees charged by the Ethereum network for processing its users transactions and making them available on the Ethereum blockchain. |
| Slashing | Slashing is a mechanism built into proof of stake blockchain protocols to discourage validator misbehavior. |
| DAO | A decentralized autonomous organization (DAO) is a legal structure that has no central governing authority. Each member of the organization can vote and act in the best interest of the organization. |
| sETH | Is a liquid representation of SLOT tokens which can be found on the execution layer. sETH is used to track the increase of dETH in association with the SLOT tokens. |
| savETH | Is the minted share of a validator (sits on the consensus layer) when a KNOT is created in the Stakehouse registry. It is the accounting token for dETH which is found on the execution layer. |
| Multichain composable ETH (dETH) | Is a truly composable infrastructure, a bridgeless path to any EVM ecosystem, no price peg or pool maintenance, it has yield singularity and programmability. |
| Open Index | Is the default index for savETH. This index holds all the outstanding savETH and can be accessed by anyone looking to swap KNOTs. To complete this transaction a user must be holding dETH. |
| Redemption Rate | Is the rate of sETH needed to be burned per SLOT token to remove the KNOT (validator) from Stakehouse. This rate will have an exchange rate of 3+ sETH per 1 SLOT. Redemption Rate = dETH minted in the house / current SLOT balance in the house. |
| Protected Staking | Is one of the three LSD Networks staking pools. Protected Stakers earn staing rewards generated by their LSD Network. (Protected Staking pool contracts are defined as ) |
| MEV Staking | Is one of the three LSD Networks staking pools. MEV Stakers earn MEV and Tips generated by their LSD Network. (MEV Staking pool contracts are defined as fees&mev) |
| Node Operator Staking | Is one of the three LSD Networks staking pools. Node Operators can stake a validator with only 4 ETH and use any node hardware and Ethereum clients they want. |