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Glossary | Symbiosis

The list of terms, abbreviations and definitions used in the Symbiosis' documentation.
This document lists terms, abbreviations and definitions used in the Symbiosis' documentation.
Term
Abbreviation
Definition
Altcoin
Tokens, cryptocurrencies, and other types of digital assets that are not bitcoin.
Asset
A resource with economic value that an individual, corporation, or country owns or controls with the expectation that it will provide a future benefit.
Automated market maker
AMM
A smart contract that creates a liquidity pool of ERC20 tokens, which are automatically traded by an algorithm rather than an order book. The price is determined by the ratio of assets in the exchange.
Burn
To delete a token.
(Crypto) Token
A type of cryptocurrency representing an asset or specific use and residing on a blockchain.
Cross-chain swap
An exchange of one token for another token. The exchanging tokens reside on different blockchains.
Cryptocurrency
Any form of currency that only exists digitally, that usually has no central issuing or regulating authority but instead uses a decentralized system to record transactions and manage the issuance of new units, and that relies on cryptography to prevent counterfeiting and fraudulent transactions.
Decentralized exchange
DEX
A peer-to-peer marketplace where transactions occur directly between crypto traders.
ERC20 token
A crypto token that is created with the ERC-20 standard' use.
Gas
A unit that measures the amount of computational effort required to execute specific operations on a blockchain supporting smart contracts.
Gas fee
A fee that required to conduct a transaction or execute a smart contract.
Liquidity pool
LP
A crowdsourced pool of cryptocurrencies or tokens locked in a smart contract that is used to facilitate trades between the assets on a decentralized exchange (DEX).
Liquidity provider token
LP Token
LP tokens are tokens issued to liquidity providers on a DEX run on AMM protocol. When liquidity providers deposit tokens to DEXes, they receive LP tokens in exchange. LP tokens can be used to withdraw deposited tokens and rewards for staking.
Mint
To issue a token.
Multi-party computation
MPC
A cryptographic tool that allows multiple parties to make calculations using their combined data without revealing their individual input. The relayers use it within the Symbiosis protocol.
Native cryptocurrency
A cryptocurrency that is used to pay gas fees.
On-chain swap
An exchange of one token for another token. The exchanging tokens reside on one blockchain.
Relayer
A node running special software, which participates in bridging blockchains.
Relayers network
A blockchain-agnostic permissionless P2P network of relayers with built-in crypto-economic incentivization mechanisms.
SIS token
SIS
The token of the Symbiosis protocol. It's used for staking and governing the Symbiosis DAO and DAO Treasure. Deployed on Ethereum.
Stablecoin
A cryptocurrency where the price is designed to be pegged to fiat money, exchange-traded commodities (such as precious metals or industrial metals), or or another cryptocurrency.
Synthetical token
sToken
A wrapped token used in the Symbiosis protocol within cross-chain swaps to shift from one blockchain to another..
Swap
An exchange of one token for another.
Symbiosis protocol
A decentralized multi-chain liquidity protocol, which allows users to swap tokens between all the chains while remaining the sole owners of the funds.
Threshold signature scheme
TSS
A protocol used for distributed key generation and signing.
veSIS
veSIS
The vote escrow (ve) tokens of the Symbiosis protocol. Holders lock their SIS tokens for a desired period and get veSIS tokens that can be used for getting rewards
Wrapped token
A representation of one token through another. The source asset is locked in a special smart contract on the source blockchain, and:
  1. 1.
    The wrapped version is issued (minted) on the same blockchain OR
  2. 2.
    The wrapped version is issued (minted) on a destination blockchain.