Key Terms

Key Terminologies and Phrases in AutoLayer

Staking and Restaking

Staking is the process of locking a user's crypto assets for a certain amount of time to support the operation of a blockchain. In return, the user receives rewards in the form of other cryptocurrencies. Restaking is when those same assets are staked again - but on another program or platform. The user gets even more rewards this way, but is also exposed to more slashing risks.

Liquid Staking & Liquid Restaking

AutoLayer allows users to deposit their ETH into a staking pool, receiving Liquid Staking Tokens (LSTs) in the process. These tokens are a representation of a user's claim on their ETH and its staking yield. Users can trade LSTs within the DeFi ecosystem and redeem them for their underlying ETH value after some time.

LSTs can be restaked by their respective holders by transferring them to smart contracts in EigenLayer.

EigenLayer

Directly from the EigenLayer Docs:

"EigenLayer is a protocol built on Ethereum that introduces restaking, a new primitive in cryptoeconomic security. This primitive enables the reuse of ETH on the consensus layer. Users that stake ETH natively or with a liquid staking token (LST) can opt-in to EigenLayer smart contracts to restake their ETH or LST and extend cryptoeconomic security to additional applications on the network to earn additional rewards."

Slashing

Slashing is a built-in mechanism built into blockchains to discourage and penalize malicious behavior from validators. Protocols have their own slashing mechanisms, but they all follow the same rule: if a validator displays any abnormal behavior, it will lose a percentage of its tokens.

AVS (Actively Validated Services)

Directly from the EigenLayer Docs:

"Any system that requires its own distributed validation semantics for verification, such as sidechains, data availability layers, new virtual machines, keeper networks, oracle networks, bridges, threshold cryptography schemes, and trusted execution environments."

$LAY3R

The AutoLayer token is pivotal to the protocol ecosystem, increasing in value as the user base expands. Currently, all transactions conducted via AutoLayer have a 0.2% fee, calculated based on transaction volume. They are then held for 24 hours and used to purchase LAY3R tokens on the open market, creating buying pressure, rewarding stakers, and supporting the token's growth. Please visit our tokenomics for more information.

Auto-Compounding

AutoLayer automatically compounds rewards generated by our products, reinvesting them at certain intervals and ensuring a continuous cycle of maximized returns.

On-chain/Off-chain

"On-chain" refers to activities or data that are recorded directly on the blockchain, making them immutable and transparent. "Off-chain" refers to activities or data that occur or exist outside the blockchain, often in a more traditional or centralized manner.

Progressive Web App

A Progressive Web App (PWA) is a web application that mimics the user experience of a native mobile app. This technology is especially advantageous for blockchain and cryptocurrency platforms. Exciting news: Tortle Ninja is now accessible as a mobile app, harnessing PWA technology to offer users a native mobile app-like experience.