Glossary
Octus Bridge terminology
Glossary of Octus Bridge Terms:
Auto Exchange - A feature that automatically converts a portion of the user's tokens into the required currency to pay for gas fees during cross-chain transfers. This ensures smooth transactions even if the user's wallet balance is insufficient for gas fees.
Blockchains - Decentralized networks where tokens are stored, and transactions are recorded on immutable ledgers.
BRIDGE - The native utility token of Octus Bridge used across various interfaces and for governance purposes within the platform. It allows users to stake, participate in governance, and access additional features and benefits.
Cross-chain transfers - A feature that allows you to transfer tokens from one blockchain network to another, enabling seamless asset movement between different ecosystems.
DAO (Decentralized Autonomous Organization) - The governance interface of Octus Bridge, where BRIDGE token holders can actively participate in decision-making processes and propose changes or improvements to the platform.
Decentralization - A core principle of Octus Bridge, where decision-making power and control over assets and transfers are distributed among network participants, reducing central authority and enhancing security and transparency.
Explorer - A user-friendly interface designed to allow users to analyze the activities and transactions occurring on the Octus Bridge platform and its associated blockchains.
Gas Fees - The cost associated with processing transactions on blockchain networks. In the context of Octus Bridge, users have the option to pay gas fees in EVER tokens or use the auto exchange feature for a seamless transaction experience.
Invisible Bridge - A cutting-edge feature that enables direct fund transfers from one EVM blockchain to another within a single interface, reducing gas fees significantly and making it appear as a direct transfer by utilizing a credit smart contract within the Everscale blockchain. This innovative solution allows users to transfer funds between different blockchains without the need for EVER tokens in their wallets, offering seamless and cost-effective cross-chain transfers.
Liquidity - The ease with which assets can be converted into cash or other assets without causing a significant impact on their price. Octus Bridge enhances liquidity by enabling efficient cross-chain transfers between different blockchain networks.
Multi-network - Octus Bridge allows users to operate with assets from numerous blockchains connected to a single bridge, simplifying the process of asset management and movement across different ecosystems.
Proposal - A formal suggestion for any change or improvement to the Octus Bridge platform submitted through the Governance interface. It allows the community to discuss and vote on potential updates.
Relayer - A bridge validator responsible for facilitating fast and secure cross-chain transfers between different blockchain networks, ensuring smooth liquidity flow.
Stake - The act of locking tokens in staking contracts to participate in the consensus mechanism of the Octus Bridge network and earn rewards.
Transfers - Token movements between different blockchain networks facilitated by the Octus Bridge cross-chain transfer feature.
Universal Bridge - A mechanism within Octus Bridge that enables the transfer of any token from another network to Everscale, expanding the interoperability and usability of the platform.
Volume - The total value of token transfers measured in USD for a specific period, providing insights into the level of activity and liquidity within the Octus Bridge ecosystem.
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