Glossary#

Use this glossary to learn about terms specific to the ODISEO Protocol.

Active Real Estate Validation nodes#

The top 100 validators that participate in consensus and receive rewards.

Air drops#

Additional rewards given to delegators through certain validators, separate from staking rewards. Airdrops come from protocols in the ODISEO ecosystem to increase visibility. To claim an airdrop, visit the webpage of the protocol giving out the airdrop.

Liquid ODIS Briks & Real Estate Smart Contracts Sets#

The nodes on our blockchain represent the investment in a real estate development project.

Our Blockchain contains information about ALL Real Estate projects listed, such as Land Titles, Contracts, Budget Control, but also location, size, drawings, plans and other details of the development.

The GAIA NFT collections will represent the ownership and therefore the rights to real estate assets. Each NFT would be a unique digital asset that is verified on the blockchain and represents the right to specific real estate asset for ever, and ultimately represent the corresponding SPV share owned.

Each SPV / Development Project / ODISEO Node might decide to sell ALL its NFTs to the “world outside of ODISEO Network “, therefore also write them off from their Financial books together with corresponding assets. In such case their digital version represented on the ODISEO Network will burned. Any SPV / Development Project / ODISEO Node can also decide to continue running operations leveraging ODISEO Facility Management service. In such case corresponding ODISEO Node will continue running, with adjusted yield as it corresponds to the Facility Management contract. In any case Real Estate Development project that once ran on ODISEO Network are expected to acquire back ODIS tokens to continue their Real Estate Development Business on our blockchain. To purchase fractional rights to a real estate asset, a user would need to have sufficient fungible utility tokens ODIS in their wallet. They could then use these tokens to purchase a GAIA NFT token representing the partial ownership of real estate asset. In case transaction is done in FIAT, SPV will be responsible for ODIS buy back.

The change of ownership of a real estate asset will be recorded on the blockchain, and the specific NFT token will be transferred to the new owner during swap process. The transaction will be recorded on the blockchain, ensuring the security and transparency of the process.

The fungible utility tokens could be exchanged for ATOMs using our Liquid Real Estate Swap facility, allowing users to exchange as they would any other digital asset. The NFT tokens, on the other hand, will represent SPV corresponding shares class as per SPV contract agreement accessible from our Network. Those share class assets can be swapped for ODIS fungible token at any time also using our Liquid Real Estate Swap facility.

Arbitrage#

To profit from price differences across different markets. Arbitrageurs buy coins in one market and sell them on another market for a higher price.

Blockchain#

An unchangeable ledger of transactions copied among a network of independent computer systems.

Blocks#

Groups of information stored on a blockchain. Each block contains transactions that are grouped, verified, and signed by validators.

ODIS#

A token can be traded freely or used as collateral on other protocols in the ODISEO network, such as Zeus. Bonded ODIS takes 21 days to become unbonded.

Bonded validator#

A validator in the active set participating in consensus. Bonded validators earn rewards.

Bonding#

When a user delegates or bonds ODIS to a validator to receive staking rewards. Validators never have ownership of a delegator’s ODIS, even when bonded. Delegating, bonding, and staking generally refer to the same process.

Burn#

The destruction of coins. The ODISEO protocol burns ODIS to mint ODISEO stablecoins and vice versa. Burned coins are destroyed.

Mobile ODISEO app#

A mobile app powered by ODISEO’s blockchain network.

ODISEO 500BC#

The current version of the ODISEO mainnet.

Commission#

The percentage of staking rewards a validator keeps before distributing the rest of the rewards to delegators. Commission is a validator’s income. Validators (Real Estate Development companies) set their own commission rates for each Development Project.

Community pool#

A special fund designated for funding community projects. Any community member can create a governance proposal to spend the tokens in the community pool. If the proposal passes, the funds are spent as specified in the proposal.

Consensus#

A system used by validators or miners to agree that each block of transactions in a blockchain is correct. The ODISEO blockchain uses the Tendermint consensus. Validators earn rewards for participating in consensus. Visit the Tendermint official documentation site for more information.

Cosmos-SDK#

The open-source framework the ODISEO blockchain is built on. For more information, check out the Cosmos SDK Documentation.

dApp#

An application built on a decentralized platform.

DDoS#

Distributed denial of service attack. When an attacker floods a network with traffic or requests in order to disrupt service.

DeFi#

Decentralized finance. A movement away from traditional finance and toward systems that do not require financial intermediaries.

Delegate#

When users or delegators add their ODIS to a validator’s stake in exchange for rewards. Delegated ODIS is bonded to a validator. Validators never have ownership of a delegator’s ODIS. Delegating, bonding, and staking generally refer to the same process.

Delegator#

A user who delegates, bonds, or stakes ODIS to a validator to earn rewards. Delegating, bonding, and staking generally refer to the same process.

Epoch#

A length of time measured in blocks. An epoch for the governance module occurs every 100800 blocks, or roughly every 7.7 days, given a 6.6-second block time. Block times may vary.

Fees#

  • Gas: Compute fees added on to all transactions to avoid spamming. Validators set minimum gas prices and reject transactions that have implied gas prices below this threshold.

  • Spread fee: A variable fee on any transaction between ODISEO and ODIS.

  • Tobin tax: A fee on any transaction between ODISEO stablecoin denominations.

For more information on fees, visit Fees on ODISEO.

Fiat currency#

Currency issued by a government that is not backed by an underlying asset. USD is the fiat currency of the United States.

Full node#

A computer connected to the ODISEO mainnet that is able to validate transactions and interact with the ODISEO blockchain. All active validators run full nodes.

ODIS#

The native staking token of the ODISEO protocol. ODIS supply expands and contracts in order to maintain the prices of ODISEO stablecoins. ODIS is also used as a governance token. Delegators can stake ODIS to receive rewards.

Governance#

Governance is the democratic process that allows users and validators to make changes to the ODISEO protocol. Community members submit, vote, and implement proposals. One staked ODIS is equal to one vote.

Governance proposal#

A written submission for a change or addition to the ODISEO protocol. Topics of proposals can vary from community pool spending, software changes, parameter changes, or any change pertaining to the ODISEO protocol.

IBC#

Inter-Blockchain Communication. The technology that enables different blockchains to interact with each other. IBC allows for assets to be traded and transacted across different blockchains.

Inactive set#

Validators that are not in the active set. These validators do not participate in consensus and do not earn rewards.

Jailed#

Validators who misbehave are jailed or excluded from the active set for a period amount of time.

Market swap#

A swap in ODISEO Station that uses the ODISEO protocol’s market function. Market swaps occur between Real Estate Assets and ODIS, or between ODIS and ATOM. Market swaps spend gas and incur either a Tobin tax or a Spread fee.

Examples

  • Swapping GAIA Real Estate Certificated in ODISEO Station will charge a Tobin tax and gas fees.

  • Swapping ODIS and ATOM will charge a spread fee and gas fees.

To learn how to use the market swap feature in ODISEO station, visit how to use ODISEO Station.

For more information on fees, visit Fees on ODISEO.

Mint#

The creation of new coins. Minting is the opposite of burning. The ODISEO protocol is minting new ODIS tokens when new Assetss own by SPV Legal Entity are listed on ODISEO Network and burns ODIS when assetss are sold outside of the Network (This exit strategy must be allowed for good of all parties).

Miss#

When a vote fails to be included in consensus.

Module#

A section of the ODISEO core that represents a particular function of the ODISEO protocol. Visit the ODISEO core module specifications for more information.

Oracle#

A software that monitors the real-world price and exchange rates of different assets. Validators submit exchange rates to the protocol and vote on the correct rates. Oracles are used to relay current external exchange rates to the protocol.

For more information, visit the oracle page.

Peg#

A currency rate that directly tracks an asset’s price. The peg for UST is the price of USD. The ideal peg ratio is 1:1.

Pools#

Groups of tokens. Supply pools represent the total supply of tokens in a market.

Proof of Stake#

Proof of Stake. A style of blockchain where validators are chosen to propose blocks according to the number of coins they hold.

Redelegate#

When a delegator wants to transfer their bonded ODIS to a different validator. Redelegating ODIS is instant and does not require a 21-day unbonding period.

Rewards#

Revenue generated from fees given to validators and disbursed to delegators.

SDR#

Special Drawing Rights. An international reserve asset and unit of account created by the IMF. SDR value is calculated daily using a basket of the world’s largest economies. The ODISEO protocol uses ODISEOSDR or SDT as its base currency for calculations and to set standards.

Seigniorage#

The value of a coin minus the cost of its production. In the ODISEO protocol, the cost of minting is very small. All seigniorage in the ODISEO protocol is burned.

Self-delegation#

The amount of ODIS a validator bonds to themselves. Also referred to as self-bond.

Slashing#

Punishment for validators that misbehave. Validators lose part of their stake when they get slashed.

For more information, see slashing in the description of the ODISEO protocol.

Slippage#

The difference in a coin’s price between the start and end of a transaction.

Stake#

The amount of ODIS bonded to a validator.

Staking#

When a user delegates or bonds their ODIS to an active validator to receive rewards. Bonded ODIS adds to a validator’s stake. Validators provide their stakes as collateral to participate in the consensus process. Validators with larger stakes are chosen to participate more often. Validators receive staking rewards for their participation. A validator’s stake can be slashed if the validator misbehaves. Validators never have ownership of a delegator’s ODIS, even when staking.

For more information on staking, visit the concepts page.

Tendermint consensus#

The consensus procedure used by the ODISEO protocol. First, a validator proposes a new block. Other validators vote on the block in two rounds. If a block receives a two-thirds majority or greater of yes votes in both rounds, it gets added to the blockchain. Validators get rewarded with the block’s transaction fees. Proposers get rewarded extra. Each validator is chosen to propose based on their weight. Check out the Tendermint official documentation for more information.

ODISEO core#

The official source code for the ODISEO protocol.

For more information on the ODISEO core, see ODISEO core modules.

ODISEO mainnet#

The ODISEO protocol’s blockchain network where all transactions take place.

ODISEO stablecoins#

Crypto assets that track the price of fiat currency enabled by the ODISEO protocol. Users mint new ODISEO stablecoins by burning ODIS. Stablecoins are named for their fiat counterparts. For example, the base ODISEO stablecoin tracks the price of the IMF’s SDR, named ODISEOSDR, or SDT. Other stablecoin denominations include ODISEOUSD or UST, and ODISEOKRW or KRT. All ODISEO stablecoin denominations exist in the same pool.

For more information, see stablecoins.

ODISEO Station#

ODISEO’s native wallet and platform for swaps, governance, and staking. In Station, you can send, receive, swap, and stake ODISEO coins. You can also participate in governance and vote on proposals.

To learn how to install and get started using ODISEO Station, visit the ODISEO Station tutorial.

To learn how to use the advanced features of ODISEO Station, visit the ODISEO Station how-to guide.

ODISEOd#

The command line interface for interacting with a ODISEO node.

For more information on ODISEOd, see ODISEOd guides.

ODISEOvaloper address#

A validator’s public address beginning with ODISEOvaloper followed by a string of characters.

Testnet#

A version of the mainnet just for testing. The testnet does not use real coins. You can use the testnet to get familiar with transactions.

The ODISEO ecosystem#

A quickly expanding network of decentralized applications built on the ODISEO protocol.

The ODISEO protocol#

The leading decentralized and open-source public blockchain protocol for algorithmic stablecoins. Using a combination of open market arbitrage incentives and decentralized oracle voting, the ODISEO protocol creates stablecoins that consistently track the price of any fiat currency.

For more information on how the ODISEO protocol works, visit the concepts page

Tobin tax#

A fee added to every swap between ODISEO stablecoins (spot-trading). The rate varies, depending on the denomination. For example, while the rate for most denominations is .35%, the rate for MNT is 2%. To see the rates, query the oracle.

Tombstone#

To block a validator from participating in consensus or oracle voting. Tombstoned validators cannot rejoin the active set.

Total stake#

The total amount of ODIS bonded to a delegator, including self-bonded ODIS.

Unbonded validator#

A validator that is not in the active set and does not participate in consensus or receive rewards. Some unbonded validators may be jailed.

Unbonding validator#

A validator transitioning from the active set to the inactive set. An unbonding validator does not participate in consensus or earn rewards. The unbonding process takes 21 days.

Unbonded ODIS#

ODIS that can be freely traded and is not staked to a validator.

Unbonding#

When a delegator decides to undelegate their ODIS from a validator. This process takes 21 days. No rewards accrue during this period. This action cannot be stopped once executed.

Unbonding ODIS#

ODIS that is transitioning from bonded to unbonded. ODIS that is unbonding cannot be traded freely. The unbonding process takes 21 days. No rewards accrue during this period. This action cannot be stopped once executed.

Undelegate#

When a delegator no longer wants to have their ODIS bonded to a validator. This process takes 21 days. No rewards accrue during this period. This action cannot be stopped once executed.

Uptime#

The amount of time a validator is active in a given timeframe. Validators with low up time may be slashed.

Validator#

A ODISEO blockchain miner responsible for verifying transactions on the blockchain. Validators run programs called full nodes that allow them to participate in consensus, verify blocks, participate in governance, and receive rewards. The top 130 validators with the highest total stake can participate in consensus.

For more information on validators, visit the concepts page.

Weight#

The measure of a validator’s total stake. Validators with higher weights get selected more often to propose blocks. A validator’s weight is also a measure of their voting power in governance.