Valis Glossary
The Valis Glossary defines key terms in the Valis ecosystem to ensure clarity, consistency, and easier onboarding for collaborators, investors, and users.
To clearly distinguish between general industry concepts and Valis-specific implementations, we apply a consistent naming convention: generic terms use a "Crypto" prefix (e.g. “Crypto Asset”), while Valis-native terms retain the core label (e.g. “Asset”). This keeps the glossary concise and avoids unnecessary repetition like “Valis Asset” or “Valis Token.”
To explore the glossary, use the category filters below or the search bar beneath the Valis logo in the upper left corner.
Title
Glossary Term Definition
A unique alphanumeric identifier on the Tockchain Network, used to send, receive, or hold cryptocurrency. The address holder's position in the Richlist Rank, based on VUSD-equivalent holdings, determines their eligibility and chances of receiving Network Rewards.
Comprehensive access to sensitive information on partnerships, financials, projections, and salaries, available only to Key Investors holding VSTABLE Tokens. In the case of a Collective Investor, confidential information is shared exclusively with its designated representative.
A Valis Work Rule requiring all asynchronous communications to be reviewed with an AI "improve flow" step before sending.
Rationale
Clean async writing respects readers' time, protects anonymity by preventing linguistic patterns from revealing personal background, and upholds the team's professional standard. This rule extends Radical Simplicity to communication.
Operational Rule
Before sending any async communication (weekly reports, announcements, shared documents, team-wide channel messages), paste the draft into any AI assistant, ask it to improve the flow, confirm meaning is preserved, and send. sync communication (live chat and real-time exchanges) is exempt.
Rationale
Clean async writing respects readers' time, protects anonymity by preventing linguistic patterns from revealing personal background, and upholds the team's professional standard. This rule extends Radical Simplicity to communication.
Operational Rule
Before sending any async communication (weekly reports, announcements, shared documents, team-wide channel messages), paste the draft into any AI assistant, ask it to improve the flow, confirm meaning is preserved, and send. sync communication (live chat and real-time exchanges) is exempt.
The process in the Tockchain DLT of exploiting price differences between the Orderbook and Liquidity Pool to profit from synchronized pricing, often automated by bots.
A sell order placed by a Maker on the Tockchain DLT’s Orderbook, specifying a price in VUSD to sell an Asset.
Valis’s implementation of an Crypto Asset in the Tockchain DLT, such as VUSD, VNET, or VPOINT, identified by an Asset ID and used in Transactions like Send Transaction or Trading in a Liquidity Pool.
A Special Transaction Type in the Tockchain DLT that creates a new Asset, requiring a 1000 VUSD deposit as reserve and initial Liquidity Pool funding, with options for mintable or non-mintable Assets using single or Multi-Signature control, requiring a valid pubkeys array and optional multisig field for multi-signer configurations.
A unique identifier for each asset supported by the Tockchain DLT, enabling the management and tracking of multiple assets within the Tockchain DLT.
A Special Transaction Type in the Tockchain DLT that mints additional tokens for a mintable Asset, requiring the creator’s signature or Multi-Signature approval, adding to the Asset’s supply within the Tockchain DLT.
A secure exchange of one Asset for another across Blockchains in the Tockchain DLT, facilitated by a Hashlock Transaction using a secret hash and locktime, ensuring both parties complete the Swapping or funds are refunded.
The average number of real Transactions Per Second by a Blockchain over a specified period, based on real-world Crypto Mainnet data, excluding Crypto Testnet and stress test results.
This metric is calculated as the total number of transactions recorded over the specified period divided by the total seconds in that period, averaged across operational data from the mainnet.
Example: For a blockchain processing 2,592,000 transactions over a 24-hour period (86,400 seconds), the Average TPS = 2,592,000 / 86,400 ≈ 30 transactions per second.
This metric is calculated as the total number of transactions recorded over the specified period divided by the total seconds in that period, averaged across operational data from the mainnet.
Example: For a blockchain processing 2,592,000 transactions over a 24-hour period (86,400 seconds), the Average TPS = 2,592,000 / 86,400 ≈ 30 transactions per second.
A buy order placed by a Maker on the Tockchain DLT’s Orderbook, specifying a price in VUSD to purchase an Asset.
A dynamic pricing strategy in Seed Round D of the Valis Stablecoins Seed Fundraiser where investors bid for VSTABLE Tokens starting at a base price, allowing market-driven pricing within a capped total value.
A bundled set of data in a Blockchain, typically containing a list of transactions, a timestamp, a reference to the previous block (via its hash), and a cryptographic hash of its own content. Blocks are linked together chronologically to form the blockchain, ensuring data integrity and immutability.
The maximum data capacity of a block in a Blockchain, typically measured in bytes, which determines the potential number of Transactions per Block.
This metric is calculated as the predefined limit set by the blockchain protocol, often adjusted based on network consensus rules (e.g., 1MB for Bitcoin, variable for others).
Example: For a blockchain with a predefined limit of 1 MB (1,048,576 bytes), the Block Size = 1,048,576 bytes.
This metric is calculated as the predefined limit set by the blockchain protocol, often adjusted based on network consensus rules (e.g., 1MB for Bitcoin, variable for others).
Example: For a blockchain with a predefined limit of 1 MB (1,048,576 bytes), the Block Size = 1,048,576 bytes.
The average time interval required to generate a new Block on a Blockchain network influencing Transaction confirmation speed and network throughput.
This metric is calculated as the total time taken to mine or validate a set number of blocks divided by the number of blocks, typically averaged over a recent period (e.g., 10 minutes for Bitcoin).
Example: For a network where 10 blocks are mined in 1,000 seconds, the Block Time = 1,000 / 10 = 100 seconds per block.
This metric is calculated as the total time taken to mine or validate a set number of blocks divided by the number of blocks, typically averaged over a recent period (e.g., 10 minutes for Bitcoin).
Example: For a network where 10 blocks are mined in 1,000 seconds, the Block Time = 1,000 / 10 = 100 seconds per block.
In cryptocurrency, a distributed ledger of chained Block, secured by cryptographic techniques, recording Crypto Transactions across a network.
A Transaction in the Tockchain DLT that facilitates interoperability with external Blockchains, such as External Chain Creation Transaction or External Asset Creation Transaction.
A Special Transaction Type in the Tockchain DLT that permanently removes a specified amount of an Asset, such as VUSD, from circulation by sending it to a null address, reducing the Asset’s total supply.
A Valis-developed metric that represents the overall performance of a Blockchain network, combining Transaction throughput (measured in Transactions Per Second, TPS) and network reliability (measured in number of nines) into a single score.
This metric is calculated as the square root of the product of TPS and 10 raised to the power of the number of nines in reliability (e.g., √(TPS × 10^Reliability), where 99.99% reliability = 4 nines).
Example: For a network with TPS = 30,000 and Reliability = 5 nines (99.999%), CPS = √(30,000 × 10^5) ≈ √3,000,000,000 ≈ 54,772.
This metric is calculated as the square root of the product of TPS and 10 raised to the power of the number of nines in reliability (e.g., √(TPS × 10^Reliability), where 99.99% reliability = 4 nines).
Example: For a network with TPS = 30,000 and Reliability = 5 nines (99.999%), CPS = √(30,000 × 10^5) ≈ √3,000,000,000 ≈ 54,772.
A Special Transaction Type in the Tockchain DLT that transfers a specified amount of an Asset from a hot address to a destination, sweeping all remaining funds, including up to 32 different tokens, to a new cold address for secure storage.
An Investor that operates as a group or a legal entity representing multiple individuals or entities pooling resources to invest jointly. Examples of collective investors include Investment Syndicates, DAOs, and trusts.
When a collective investor qualifies as a Key Investor, only its designated representative is recognized as the Key Investor for official communication and reporting purposes.
When a collective investor qualifies as a Key Investor, only its designated representative is recognized as the Key Investor for official communication and reporting purposes.
One of the two two networks in the Dual-Network L1 Tockchain DLT where Consensus Nodes agree on the set and order of transactions for each Tock.
The Consensus Network is distributed (run by many independent nodes), decentralized (no single entity controls it), and permissioned (nodes require Valis approval to participate).
The Consensus Network is distributed (run by many independent nodes), decentralized (no single entity controls it), and permissioned (nodes require Valis approval to participate).
A node that operates in the Tockchain DLT’s Consensus Network responsible for agreeing on the set and order of transactions for each Tock.
Consensus Nodes are also known as Generator Nodes.
Consensus Nodes are also known as Generator Nodes.
An entity that manages and operates Consensus Nodes in the Tockchain DLT’s Consensus Network. They are responsible for maintaining consensus of the Tockchain Network.
Consensus Node Operators receive 10% of the Network Reward Cycle Amount, as compensation for operating and maintaining the Tockchain Network.
Consensus Node Operators receive 10% of the Network Reward Cycle Amount, as compensation for operating and maintaining the Tockchain Network.
The steps involved in achieving agreement in the Tockchain Consensus:
1. Transaction Broadcast.
2. Transaction Summary.
3. Summary Voting.
4. Winning Subsets.
5. Subset Sync.
6. Collision Detection.
7. Signature.
1. Transaction Broadcast.
2. Transaction Summary.
3. Summary Voting.
4. Winning Subsets.
5. Subset Sync.
6. Collision Detection.
7. Signature.
A deduction from gross revenue (e.g., returns, discounts, allowances) that reduces reported net revenue, typically recorded as a debit account offsetting the related revenue account.
A Node Operator managing a Consensus Node or Validation Node in a Core Testnet, ensuring network stability and validating core Tockchain DLT features like Tockchain Consensus, or in the Mainnet, supporting production-ready operations.
A public Testnet focused on validating network stability and core Tockchain DLT features, such as Tockchain Consensus and Transaction throughput, under production-like conditions, enabling public testing before Mainnet deployment.
The estimated cost per Transaction on a Blockchain, based on the network’s operational expenses and its maximum transaction processing capacity.
This metric is calculated as the Network Cost per Second divided by the Maximum Theoretical TPS, where Network Cost per Second is derived from the Network Cost per Month divided by the number of seconds in an average month (2,629,800 seconds).
Example: With a Network Cost per Second = $10 (from $26,298/month ÷ 2,629,800 seconds) and Peak TPS = 30,000, Cost per Transaction = $10 / 30,000 ≈ $0.000333 per transaction.
This metric is calculated as the Network Cost per Second divided by the Maximum Theoretical TPS, where Network Cost per Second is derived from the Network Cost per Month divided by the number of seconds in an average month (2,629,800 seconds).
Example: With a Network Cost per Second = $10 (from $26,298/month ÷ 2,629,800 seconds) and Peak TPS = 30,000, Cost per Transaction = $10 / 30,000 ≈ $0.000333 per transaction.
A Special Transaction Type in the Tockchain DLT that transfers an Asset, such as QUBIC, from the Tockchain DLT to another Blockchain, identified by a chain ID and external symbol, facilitating interoperability within the Tockchain Ecosystem.
A unique alphanumeric identifier on a Blockchain, used to send, receive, or hold cryptocurrency. It functions like a digital wallet address, enabling secure transactions while maintaining user anonymity.
In cryptocurrency, a digital item of value on a Blockchain, such as tokens, native coins, or non-fungible tokens, used in transactions, smart contracts, or as a store of value.
In cryptocurrency, a trustless exchange of Crypto Tokens between two Blockchain networks, facilitated by a Crypto Hash Timelock Contract ensuring both parties fulfill the Crypto Swapping or funds are refunded.
In cryptocurrency, a reward given to network participants, such as miners in Proof of Work or validators in Proof of Stake systems, for securing and maintaining the distributed ledger by processing transactions and achieving consensus.
A periodic event in certain Blockchain networks where the reward for mining or validating transactions (e.g., block rewards) is reduced by half, typically to control token supply and inflation. Examples include Bitcoin, which halves rewards approximately every four years based on block height.
In cryptocurrency, a Crypto Smart Contract that locks funds until a secret hash is revealed or a locktime expires, enabling trust-less exchanges like Crypto Atomic Swaps.
In cryptocurrency, a temporary loss in value for Crypto Liquidity Providers when the prices of deposited Tokens in a Crypto Liquidity Pool diverge due to market volatility, compared to simply holding the tokens outside the pool. This risk is 'impermanent' because it realizes only upon withdrawal, and can be offset by earned fees or rewards in DeFi protocols.
In cryptocurrency, a user or entity that deposits Tokens into a Crypto Liquidity Pool to enable decentralized Trading, Swapping, or lending. Crypto Liquidity Providers earn fees, rewards, or interest proportional to their contribution, while bearing risks like Crypto Impermanent Loss.
In cryptocurrency, a Blockchain environment operating with real-value Asset and live Transactions, executing production operations, such as financial transfers or Crypto Smart Contract execution, with actual economic impact.
In cryptocurrency, a Trading system that matches buy and sell orders for Crypto Assets, using a Maker/Taker model where makers place orders at specified prices and takers accept them, common in centralized and decentralized exchanges.
The difference between the expected price of a Crypto Transaction and the actual executed price on a Blockchain, resulting from market volatility, low Crypto Liquidity Pool depth, or delayed order execution.
Positive slippage occurs when the executed price is better than expected, while negative slippage indicates a worse price, impacting traders and Crypto TVL across decentralized exchanges.
Positive slippage occurs when the executed price is better than expected, while negative slippage indicates a worse price, impacting traders and Crypto TVL across decentralized exchanges.
In cryptocurrency, a self-executing program on a Blockchain that automatically enforces the terms of an agreement, enabling decentralized applications, Crypto Token issuance, or financial services without intermediaries.
In cryptocurrency, a Crypto Token designed to maintain a stable value, typically pegged to a fiat currency like the US dollar, a commodity, or an algorithm, used for Crypto Transactions, decentralized finance, or as a store of value with reduced volatility.
In cryptocurrency Trading, the exchange of one Crypto Token for another, typically facilitated through decentralized protocols like Crypto Liquidity Pools or cross-chain mechanisms, enabling trust-less asset swaps.
In cryptocurrency, a Blockchain environment replicating Crypto Mainnet functionality, using valueless Testnet Tokens to test Transactions and Tockchain Consensus, enabling feature validation without financial risk.
In cryptocurrency, a digital asset on a Blockchain representing value, utility, or rights, such as currency, governance, or access. Issued via smart contracts or protocols and used in transactions, decentralized finance, or network operations.
In cryptocurrency, a recorded operation on a Blockchain that modifies its state, such as transferring Crypto Assets or executing smart contracts, identified by a unique identifier and validated by network participants.
The total value of digital assets locked or deposited in Decentralized Finance protocols or platforms on a Blockchain, measured in a fiat currency like USD, to gauge the overall size, liquidity, and activity of the ecosystem.
This metric is calculated by summing the market value (in USD) of all assets deposited or locked across the protocol's Crypto Smart Contracts at a given time.
Example: If a DeFi protocol has 10,000 ETH (valued at $2,000 each) and 5 million USDC (valued at $1 each) locked, the Crypto TVL is (10,000 × 2,000) + (5,000,000 × 1) = $25,000,000.
This metric is calculated by summing the market value (in USD) of all assets deposited or locked across the protocol's Crypto Smart Contracts at a given time.
Example: If a DeFi protocol has 10,000 ETH (valued at $2,000 each) and 5 million USDC (valued at $1 each) locked, the Crypto TVL is (10,000 × 2,000) + (5,000,000 × 1) = $25,000,000.
The canonical set of predefined database views that every database in should have. They exist to standardize how databases are inspected, audited, and managed, so that any database can be understood and operated in a consistent way.
For a complete list of database basic views, see .
For a complete list of database basic views, see .
In cryptocurrency, often abbreviated as DeFi, a system of financial applications built on Blockchain networks that enables services like Trading, lending, and Crypto Token Crypto Swappingping without intermediaries, using Crypto Smart Contracts and decentralized protocols.
An abbreviation for Decentralized Finance.
A Market Neutral Strategies approach that deploys capital into DeFi protocols, including Liquidity Pool, lending markets, and yield aggregators, to earn native protocol rewards and fees while actively managing smart-contract and market risk.
A private Testnet, also known as DevNet, operated solely by Valis to test new binaries and experimental features, such as new Special Transaction Types internally before public release to a Core Testnet or Mainnet.
An abbreviation for Development Testnet.
A category of fund management strategies that seek to profit from anticipated price movements in a specific direction. Directional strategies accept net market exposure in exchange for potential upside and include the following approaches:
- Fundamental Strategy
- Macro Strategy
- Event Driven Strategy
- Quant Directional Strategy
- Quant Trend Following Strategy
- Fundamental Strategy
- Macro Strategy
- Event Driven Strategy
- Quant Directional Strategy
- Quant Trend Following Strategy
The period during which a Blockchain network is unable to fully perform its intended functions, including processing validated Transactions or maintaining Tockchain Consensus. Downtime may include full network unavailability due to outages or partial disruptions, such as temporary consensus failures, where the network remains operational but cannot validate transactions.
Downtime is determined by identifying the total time over a defined period during which the network fails to process validated transactions, either fully (outages) or partially (consensus failures), and is typically expressed in seconds, hours, or days depending on the context.
Example: If the Tockchain Network experiences a 10-minute outage and 50 Empty Tocks due to consensus issues over a day (86,400 seconds), the downtime is 600 seconds (outage) plus 50 seconds (one second per empty tock), resulting in 650 seconds of total downtime.
Downtime is determined by identifying the total time over a defined period during which the network fails to process validated transactions, either fully (outages) or partially (consensus failures), and is typically expressed in seconds, hours, or days depending on the context.
Example: If the Tockchain Network experiences a 10-minute outage and 50 Empty Tocks due to consensus issues over a day (86,400 seconds), the downtime is 600 seconds (outage) plus 50 seconds (one second per empty tock), resulting in 650 seconds of total downtime.
The combined Consensus Network and Validation Network within the Tockchain DLT’s Dual-Network L1 Blockchain, enabling efficient transaction consensus and validation.
A Tock in the Tockchain DLT with no validated Transactions due to network issues, node failures, or bugs, indicating a temporary failure in Tockchain Consensus.
A Directional Strategies approach that trades around specific catalysts such as restructurings, regulatory developments, protocol upgrades, or other special situations.
An automated Special Transaction Type in the Tockchain DLT that creates an external Asset on another Blockchain, restricted to the coinbase address, specifying the asset’s name, symbol, and issuer.
An automated Special Transaction Type in the Tockchain DLT that establishes a new external Blockchain for interoperability, restricted to the coinbase address, specifying chain ID and external symbol.
Transactions marked as invalid in the Tockdata, identified during the validation process in the Validation Network.
The percentage of time a Blockchain network is unavailable due to Downtime or operational failures, inversely related to reliability.
This metric is calculated as 100% minus the Reliability (in Percentage) of the network over a given period.
Example: For a Reliability of 95.25%, Failure Rate = 100% - 95.25% = 4.75%.
This metric is calculated as 100% minus the Reliability (in Percentage) of the network over a given period.
Example: For a Reliability of 95.25%, Failure Rate = 100% - 95.25% = 4.75%.
A Valis Stablecoin such as VUSD, pegged to a fiat currency like the US dollar, backed by reserves to maintain stability, used for transactions in the Tockchain Ecosystem and generating revenue for VSTABLE Token holders.
A pricing strategy in the Valis Stablecoins Seed Fundraiser (Seed Round A, Seed Round B, Seed Round C) where VSTABLE Tokens are sold at a predetermined price per token, enabling predictable investment costs for participants.
A Directional Strategies approach based on discretionary positioning informed by qualitative and quantitative analysis of Token economics, adoption trends, and revenue/fee fundamentals.
A smart contract-based multi-signature wallet on Ethereum that enables secure storage and management of digital assets through customizable approval thresholds and modular extensions. It is open-source, non-custodial, and governed by SafeDAO.
The event that occurs every four years after the launch of Tockchain Mainnet, in which the Tock Reward Amount is halved, reducing the amount of VNET minted and distributed per Tock. This mechanism controls inflation and ensures long-term scarcity. The initial reward of 1 VNET per Tock will decrease over time, for example to 0.5 VNET after the first halving.
In cryptocurrency, an address generated by hashing a public key or other data, used to securely identify accounts or Crypto Transactions, such as in Trading or wallet management.
A Special Transaction Type in the Tockchain DLT that implements a Crypto Hash Timelock Contract, locking funds to an address until a secret hash (using K12 or SHA256) is revealed or a locktime expires, enabling features like Atomic Swaps for Assets like QUBIC.
Valis’s implementation of Crypto Impermanent Loss in the Tockchain DLT, where Liquidity Provider may experience temporary value divergence in pooled Assets (e.g., VUSD and QUBIC) due to price changes during Token Swapping or Trading. Liquidity providers can mitigate this through strategies like balanced pools or by holding for VNET from Tock Rewards.
Slippage from trades causes liquidity pool rebalancing, contributing to impermanent loss over time, but they're distinct concepts: slippage is trade cost, while impermanent loss is a liquidity provider volatility loss.
Slippage from trades causes liquidity pool rebalancing, contributing to impermanent loss over time, but they're distinct concepts: slippage is trade cost, while impermanent loss is a liquidity provider volatility loss.
An Investor who acts as an individual rather than as part of an organization or institution.
An entity that holds VSTABLE or VALIS Tokens.
Investors are classified based on three key criteria:
1. Entity composition: Individual Investor vs. Collective Investor.
2. Access to the Valis team: Approved Profile vs. Declined Profile.
3. Holdings size: Standard Investor vs. Key Investor.
Only Direct Investors can become Key Investors and reporting access is based on holdings size: Standard Investors receive Standard Reporting, while Key investors receive Advanced Reporting.
Investors are classified based on three key criteria:
1. Entity composition: Individual Investor vs. Collective Investor.
2. Access to the Valis team: Approved Profile vs. Declined Profile.
3. Holdings size: Standard Investor vs. Key Investor.
Only Direct Investors can become Key Investors and reporting access is based on holdings size: Standard Investors receive Standard Reporting, while Key investors receive Advanced Reporting.
The top 10 Approved Profiles contributing $100,000 or more across all rounds.
Key Investors receive Advanced Reporting.
Key Investors receive Advanced Reporting.
Valis’s implementation of a Crypto Liquidity Pool in the Tockchain DLT, holding a reserve of Assets, such as VUSD and QUBIC, to facilitates Token Swapping and Trading, requiring a minimum 1000 VUSD deposit to create and fund for functionality.
Valis’s implementation of a Crypto Liquidity Provider in the Tockchain DLT, where users or entities deposit Assets into Liquidity Pool to facilitate Trading and Swapping of Tokens, such as VUSD.
Liquidity Providers receive 80% of the Network Reward Cycle Amount from each, as compensation for maintaining liquidity in the network and bearing associated risks such as Impermanent Loss.
Liquidity Providers receive 80% of the Network Reward Cycle Amount from each, as compensation for maintaining liquidity in the network and bearing associated risks such as Impermanent Loss.
A Directional Strategies approach that expresses views on broader economic, liquidity, or policy dynamics through digital Asset and related derivatives.
A Crypto Mainnet for the Tockchain DLT, enabling Consensus Nodes and Validation Nodes to process live Transactions and Assets like VUSD, maintaining Tockchain Consensus with high reliability, to support real-world operations in the Tockchain Ecosystem.
A Consensus Node or Validation Node configured for the Mainnet, meeting requirements to process live Transactions and maintain Tockchain Consensus.
A user in the Tockchain DLT’s Orderbook who places a buy or sell order for an Asset at a specific price in VUSD, creating liquidity through a Maker Order Transaction.
A Special Transaction Type in the Tockchain DLT that cancels a maker’s buy or sell order on the Orderbook, specified by the maker, Assets, and price.
A Special Transaction Type in the Tockchain DLT that allows a Maker to claim Tock Reward, such as VNET, earned by their order address on the Orderbook.
A Special Transaction Type in the Tockchain DLT that places a buy or sell order on the Orderbook, specifying the maker’s Assets, price in VUSD, and amount, enabling trading within the Tockchain DLT.
A Market Neutral Strategies approach that continuously quotes Bid and Ask prices on exchanges or AMMs, earning the spread while managing inventory risk.
A category of fund management strategies designed to generate returns with minimal or zero net exposure to overall market direction. Market neutral strategies profit from relative price movements, structural inefficiencies, or spread capture rather than directional bets. They include the following approaches:
- Statistical Arbitrage Strategy
- Volatility Arbitrage Strategy
- Market Making Strategy
- Relative Value Strategy
- DeFi / Yield Strategy
- Statistical Arbitrage Strategy
- Volatility Arbitrage Strategy
- Market Making Strategy
- Relative Value Strategy
- DeFi / Yield Strategy
The theoretical maximum number of Transactions Per Second a Blockchain can handle, based on its Block Size, Smallest Transaction Size, and Block Time under optimal conditions.
This metric is calculated as the block size divided by the smallest transaction size, divided by the block time (in seconds), assuming ideal network conditions and no congestion.
Example: With a Block Size = 1 MB (1,048,576 bytes), Smallest Transaction Size = 256 bytes, and Block Time = 1 second, Maximum Theoretical TPS = 1,048,576 / 256 / 1 ≈ 4,096 transactions per second.
This metric is calculated as the block size divided by the smallest transaction size, divided by the block time (in seconds), assuming ideal network conditions and no congestion.
Example: With a Block Size = 1 MB (1,048,576 bytes), Smallest Transaction Size = 256 bytes, and Block Time = 1 second, Maximum Theoretical TPS = 1,048,576 / 256 / 1 ≈ 4,096 transactions per second.
A subfield of cryptography that enables multiple parties to jointly compute a function over their private inputs while keeping those inputs confidential from each other. It uses cryptographic protocols to ensure the computation reveals only the output and nothing about individual inputs.
In cryptocurrency, a security mechanism requiring multiple signatures to authorize a Crypto Transaction or manage a wallet address, enhancing security for assets like Crypto Tokens.
A Special Transaction Type in the Tockchain DLT that creates a Multi-Signature address, specifying the number of signers, minimum required signatures, and public keys, with an optional locktime, for secure Special Transaction Type execution.
A Special Transaction Type in the Tockchain DLT that spends funds from a Multi-Signature address, requiring signatures from the specified number of signers, appended sequentially, to transfer Assets like VUSD.
The total operational cost of a Blockchain network per month, measured in USD, covering infrastructure, energy, and maintenance expenses.
This metric is calculated as the sum of all operational costs (e.g., node hosting, energy, bandwidth) incurred by the network over a 30.44-day average month.
Example: If the total operational cost for a network is $26,298 over a 30.44-day month, the Network Cost per Month = $26,298.
This metric is calculated as the sum of all operational costs (e.g., node hosting, energy, bandwidth) incurred by the network over a 30.44-day average month.
Example: If the total operational cost for a network is $26,298 over a 30.44-day month, the Network Cost per Month = $26,298.
The real-time operational cost of a Blockchain network per second, measured in USD, used to assess economic efficiency.
This metric is calculated as the Network Cost per Month divided by the number of seconds in an average month (2,629,800 seconds, based on 30.44 days).
Example: With a Network Cost per Month = $26,298, Network Cost per Second = $26,298 / 2,629,800 ≈ $0.01 per second.
This metric is calculated as the Network Cost per Month divided by the number of seconds in an average month (2,629,800 seconds, based on 30.44 days).
Example: With a Network Cost per Month = $26,298, Network Cost per Second = $26,298 / 2,629,800 ≈ $0.01 per second.
A ten-second period during which 10 VNET are minted and distributed, one per Tock, to different Tockchain Stakeholder groups.
The total quantity of VNET tokens minted and distributed over a Network Reward Cycle, starting at 10 VNET (pre-Halving), calculated as 1 VNET per Tock × 10 Tocks.
The VNET tokens minted and distributed every Tock as incentives for network contributions, such as liquidity provision, node operation, and ecosystem oversight. These rewards are treated as a contra-revenue item, deducted from Valis Stablecoins Gross Revenue to calculate Valis Stablecoins Net Revenue, with their allocation determined by Valis as a variable percentage.
A System Transaction in the Tockchain DLT that adds a new Consensus Node to the Tockchain Network, specifying its IP address and identifier, to enhance network capacity.
The cost of operating a single node in a Blockchain network per month, measured in USD, including hardware, energy, and maintenance expenses.
This metric is calculated as the total cost of resources (e.g., server costs, electricity) required to run one node over a 30.44-day average month.
Example: If running one node costs $500 in hardware and energy over a 30.44-day month, the Node Cost per Month = $500.
This metric is calculated as the total cost of resources (e.g., server costs, electricity) required to run one node over a 30.44-day average month.
Example: If running one node costs $500 in hardware and energy over a 30.44-day month, the Node Cost per Month = $500.
The total number of active nodes participating in a Blockchain network, indicating its decentralization and operational scale.
This metric is calculated as the count of nodes actively validating Transactions or maintaining the network ledger at a given time.
Example: If 100 nodes are actively validating transactions, the Node Count = 100.
This metric is calculated as the count of nodes actively validating Transactions or maintaining the network ledger at a given time.
Example: If 100 nodes are actively validating transactions, the Node Count = 100.
An entity that manages and operates Consensus Nodes and/or Validation Nodes on the Tockchain DLT. Node operators can function as a Consensus Node Operator, a Validation Node Operator, or serve both roles.
A System Transaction in the Tockchain DLT that removes a Consensus Node from the Tockchain Network, restricted for networks with a multiple of three nodes to maintain quorum.
A System Transaction in the Tockchain DLT that replaces an existing Consensus Node with a new one in the Tockchain Network, specifying both nodes’ identifiers and the new node’s IP address.
A Special Transaction Type in the Tockchain DLT that retrieves a list of open orders placed by a Maker on the Orderbook for a specific Asset, aiding in trade tracking.
A Special Transaction Type in the Tockchain DLT that creates a hashed address for a specific Orderbook entry, defining the Maker, Assets, and price for Trading.
Valis’s implementation of a Crypto Orderbook in the Tockchain DLT for Assets Trading, using a Maker/Taker model, where makers place buy or sell orders at specified prices in VUSD and takers accept them, supported by Hashed Address and Tock Rewards.
A specialized order in the Tockchain DLT’s Orderbook where a Maker specifies a particular Taker to complete a trade for an Asset.
A method in the Tockchain DLT that enhances transaction validation speed through parallel transaction processing.
The highest number of Transactions Per Second observed on a Blockchain under real-world Crypto Mainnet conditions over a short-term peak period.
This metric is calculated as the maximum value of Transactions Per Second recorded during a specific high-traffic event or period on the mainnet.
Example: During a high-traffic event, a network records a maximum of 35,000 transactions in 1 second, so Peak TPS = 35,000 transactions per second.
This metric is calculated as the maximum value of Transactions Per Second recorded during a specific high-traffic event or period on the mainnet.
Example: During a high-traffic event, a network records a maximum of 35,000 transactions in 1 second, so Peak TPS = 35,000 transactions per second.
The highest number of Transactions Per Second recorded on the Crypto Mainnet under real-world conditions during a peak period.
This metric is calculated as the Peak TPS value observed during a high-traffic event on the mainnet.
This metric is calculated as the Peak TPS value observed during a high-traffic event on the mainnet.
The highest number of Transactions Per Second recorded on a ’s Crypto Testnet under simulated or real-world conditions.
This metric is calculated as the Peak TPS value observed during a stress test or high-traffic simulation on the testnet.
This metric is calculated as the Peak TPS value observed during a stress test or high-traffic simulation on the testnet.
An actual or potential Investor under evaluation by Valis to determine alignment with its vision and strategy. Pending Profiles do not yet have direct access to the Valis team or the Valis treasury. After review, a Pending Profile may become an Approved Profile or a Declined Profile.
A Special Transaction Type in the Tockchain DLT that adds one or both Assets to a Liquidity Pool, specifying the source, destination pool, and amount, supporting one-sided or two-sided deposits, with validation to prevent same-asset two-sided deposits, to enhance pool liquidity.
The exchange of one Asset for another within a Liquidity Pool in the Tockchain DLT, executed via a Poolswap Transaction to facilitate Trading.
A Special Transaction Type in the Tockchain DLT that exchanges one Asset for another within a Liquidity Pool, specifying the source and destination Assets and amount, with an optional minimum amount for the swap.
A Special Transaction Type in the Tockchain DLT that removes Assets from a Liquidity Pool, allowing withdrawal of a single Asset or both in equal proportion, including any earned Tock Reward like VNET.
A pre-configured page in a data source that exists solely to be duplicated by a Prompt via
Prompt Database Templates are prompt-specific infrastructure — not intended for direct human use. Because they are independent (unsynced) copies of a canonical source, they carry drift risk and must be manually updated when the original changes.
Do not confuse Prompt Database Templates with Prompt Templates, which are the blueprint for creating new prompts.
pageTemplate. Named with the [PROMPT] prefix to distinguish them from user-facing database templates.Prompt Database Templates are prompt-specific infrastructure — not intended for direct human use. Because they are independent (unsynced) copies of a canonical source, they carry drift risk and must be manually updated when the original changes.
Do not confuse Prompt Database Templates with Prompt Templates, which are the blueprint for creating new prompts.
A centralized database that tracks all Prompt drift risk dependencies, mapping each hardcoded or unsynced dependency to its source prompt, canonical source, drift vector type, and a description of what is embedded. Used to quickly identify affected prompts when a canonical source changes.
The registry complements per-prompt Canonical Source notes by providing a single queryable view across all prompts. It is documented in the Drift Risk Mitigation section of the page.
The registry complements per-prompt Canonical Source notes by providing a single queryable view across all prompts. It is documented in the Drift Risk Mitigation section of the page.
The stage of a Prompt's journey from initial concept to active use. Prompt Lifecycle tracks where a prompt is in its development process — from Ideation through Review, Sign-off, Production, and Monitoring. Lifecycle is orthogonal to Prompt Status, which tracks structural conformance to a Prompt Template independently of the prompt's development stage.
The collective name for the three Prompts that maintain the structural health of the :
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2.
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Each tool targets a different starting condition based on Prompt Status — no page exists, the page structure is wrong, or the page needs content-level fixes — and outputs a prompt that conforms to its Prompt Template.
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2.
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Each tool targets a different starting condition based on Prompt Status — no page exists, the page structure is wrong, or the page needs content-level fixes — and outputs a prompt that conforms to its Prompt Template.
The bottom-up assembly sequence used to build a Prompt: Prompt Synced Block → Prompt Section → Prompt Template → Prompt.
Prompt Scaffolding is a specific concept within Prompt Structure — while Prompt Structure describes the anatomy of a prompt (what parts exist and how they relate), Prompt Scaffolding describes the order in which those parts are assembled.
Prompt Scaffolding is a specific concept within Prompt Structure — while Prompt Structure describes the anatomy of a prompt (what parts exist and how they relate), Prompt Scaffolding describes the order in which those parts are assembled.
The structural health of a Prompt relative to its Prompt Template. Prompt Status is orthogonal to Prompt Lifecycle — Lifecycle tracks where a prompt is in its development journey, while Prompt Status tracks how well it conforms to its template right now. The three statuses, from worst to best, are: Needs Rebuild, Needs Optimization, and Compliant.
The anatomy of a Prompt, covering what parts it is composed of and how they relate. Prompt Structure covers Prompt Sections (Per Run Instructions, Per Prompt Instructions, Per Prompt Type Instructions, Global Prompt Instructions), Prompt Templates, Prompt Synced Blocks, and the rules governing how these artifacts combine into a finished prompt.
Prompt structure is distinct from Prompt Type, which categorizes prompts by purpose, and from Prompt Scaffolding, which describes the build-up sequence used to assemble the parts.
Prompt structure is distinct from Prompt Type, which categorizes prompts by purpose, and from Prompt Scaffolding, which describes the build-up sequence used to assemble the parts.
A Node Operator undergoing training and certification in a Qualification Testnet, developing proficiency in managing Consensus Nodes or Validation Nodes to maintain Tockchain Consensus, preparing for Core Node Operator responsibilities.
A public Testnet designed to train and certify Qualification Node Operators, ensuring proficiency in maintaining Tockchain Consensus and Tockchain Network operations, before advancing to the Core Node Operator status.
A Directional Strategies approach that uses quantitative models and predictive signals, potentially leveraging AI/ML, to take directional exposure across digital Asset.
A Directional Strategies approach that captures sustained price trends using momentum, time-series signals, and rules-based execution, including mean reversion strategies.
A defense against quantum computing attacks native to Tockchain that relies on physical constraints rather than algorithmic hardness alone. The mechanism centers on the Coldspend Transaction, which leverages speed-of-light propagation and the first-seen rule to sweep funds to a fresh Hashed Address before a quantum attacker can derive the private key from a momentarily exposed public key. Combined with Quantum Resistant Cold Storage, quantum protection is one of two approaches to achieving Quantum Security, the other being Quantum Resistance.
A defense against quantum computing attacks that relies on post-quantum cryptographic (PQC) algorithms whose security derives from mathematical problems believed to be hard for both classical and quantum computers. Examples include lattice-based, hash-based, and code-based schemes designed to replace algorithms vulnerable to Shor's algorithm. In the context of the Tockchain Ecosystem, quantum resistance is one of two approaches to achieving Quantum Security, the other being Quantum Protection.
A feature for securely storing funds to protect them from potential quantum computing threats. This feature is designed to ensure the safety of digital assets in an era where quantum technology could compromise traditional security measures.
The outcome of being cryptographically secure against attacks from quantum computers, regardless of the specific mechanism used to achieve it. In the Tockchain Ecosystem, quantum security is pursued through two complementary approaches:
- Quantum Resistance, which relies on post-quantum cryptographic (PQC) algorithms whose security derives from mathematical hardness assumptions.
- Quantum Protection, which relies on physical constraints, such as speed-of-light propagation and the first-seen rule, implemented natively in Tockchain via the Coldspend Transaction.
- Quantum Resistance, which relies on post-quantum cryptographic (PQC) algorithms whose security derives from mathematical hardness assumptions.
- Quantum Protection, which relies on physical constraints, such as speed-of-light propagation and the first-seen rule, implemented natively in Tockchain via the Coldspend Transaction.
The native token of the Qubic network, bridged as an Asset to the Tockchain DLT for seamless use in Transactions like Send Transaction, Poolswap Transaction, or Crosschain Transaction within the Tockchain DLT.
The endorsements (signatures) obtained from a quorum of Consensus Nodes (two-thirds plus one), confirming consensus on the transaction set and ensuring agreement among participating nodes.
The instantaneous number of Transactions Per Second currently being processed by a Blockchain network.
This metric is calculated as the number of transactions processed within the most recent one-second interval, updated continuously.
This metric is calculated as the number of transactions processed within the most recent one-second interval, updated continuously.
A Market Neutral Strategies approach that isolates and captures pricing inefficiencies between related instruments, such as spot versus futures, cross-exchange spreads, or on-chain versus off-chain pricing, while hedging broad market exposure.
A metric representing the reliability of a Blockchain network, expressed as the number of consecutive nines in its uptime percentage (e.g., 99.999% equals 5 nines).
This metric is calculated by determining the number of consecutive nines in the Reliability (in Percentage) value.
Example: For a Reliability of 99.9%, the Reliability (in Number of Nines) = 3 nines. For a Reliability of 99.99%, Reliability (in Number of Nines) = 4 nines.
This metric is calculated by determining the number of consecutive nines in the Reliability (in Percentage) value.
Example: For a Reliability of 99.9%, the Reliability (in Number of Nines) = 3 nines. For a Reliability of 99.99%, Reliability (in Number of Nines) = 4 nines.
The percentage of time a Blockchain network remains operational without Downtime, reflecting its reliability.
This metric is calculated as the total uptime duration divided by the total observation period (e.g., a year), multiplied by 100.
Example: If a network is operational for 315,360 seconds out of 315,360,000 seconds in a year, Reliability (in Percentage) = (315,360 / 315,360,000) × 100 = 99.9%.
This metric is calculated as the total uptime duration divided by the total observation period (e.g., a year), multiplied by 100.
Example: If a network is operational for 315,360 seconds out of 315,360,000 seconds in a year, Reliability (in Percentage) = (315,360 / 315,360,000) × 100 = 99.9%.
A restricted name for Asset in the Tockchain DLT, such as COINSMINTED, POOLSHARES, or VUSD, to prevent conflicts with system-defined assets or pool identifiers.
An hourly-updated ranking of addresses by VUSD-equivalent holdings, determining eligibility for the Richlist Lottery.
A sub-component of the Tock Reward System that randomly distributes Tock Rewards to Richlist participants, with higher-ranked addresses having better odds.
An Address’s position in the Richlist based on VUSD-equivalent holdings. Higher ranks qualify for more Richlist Tiers and greater chances of receiving VNET rewards.
A non-overlapping group of consecutive Richlist Ranks in the Richlist (e.g., ranks 1-10, 11-25), used for analyzing Network Rewards distribution and selection metrics.
One of eight cumulative categories within the Richlist, grouping addresses by VUSD-equivalent holdings. Because tiers overlap, an address can qualify for multiple tiers based on its rank. Tiers determine eligibility and selection probability in the Richlist Lottery for VNET rewards. Higher tiers grant more entries and better odds. Richlist Tiers and Richlist Rank update hourly.
A technique used to aggregate multiple transactions into a single batch, enhancing overall throughput and efficiency in transaction processing.
The first round of the Valis Stablecoins Seed Fundraiser, using a Fixed-Price Mechanism at $0.0001 per VSTABLE Token, uncapped, with a minimum investment of $100,000, exclusive to the first investor, concluded on December 1, 2024.
The second round of the Valis Stablecoins Seed Fundraiser, using a Fixed-Price Mechanism at $0.00012 per VSTABLE Token, uncapped, with a minimum investment of $100,000, invite-only for pre-selected investors, ran from December 2 to December 8, 2024.
The third round of the Valis Stablecoins Seed Fundraiser, using a Fixed-Price Mechanism at $0.00013 per VSTABLE Token, open to pre-approved investors with a minimum investment of $100,000, ran from December 9 to December 15, 2024.
The final round of the Valis Stablecoins Seed Fundraiser, using a Blind Auction starting at $0.00014 per VSTABLE Token, capped at $100,000 in total value, with a minimum investment of $10,000, open to pre-approved investors, ran from December 16 to December 22, 2024.
A Standard Transaction in the Tockchain DLT that transfers a specified amount of an Asset, such as VUSD or QUBIC, from a sender to a recipient address, identified by a Tockid for tracking in the Tockchain Ledger.
The difference between the expected price of a trade and the actual executed price on the Tockchain DLT’s Orderbook or Liquidity Pool, resulting from market volatility, low liquidity, or delayed order execution. Positive slippage occurs when the executed price is better than expected, while negative slippage indicates a worse price, impacting traders and TVL calculations.
The minimum data size of a transaction on a Blockchain, typically measured in bytes, used to estimate maximum transaction capacity.
This metric is calculated as the smallest possible transaction data unit defined by the blockchain protocol, based on its data structure (e.g., inputs, outputs).
Example: For a blockchain where the minimum transaction data is 256 bytes (e.g., including inputs and outputs), the Smallest Transaction Size = 256 bytes.
This metric is calculated as the smallest possible transaction data unit defined by the blockchain protocol, based on its data structure (e.g., inputs, outputs).
Example: For a blockchain where the minimum transaction data is 256 bytes (e.g., including inputs and outputs), the Smallest Transaction Size = 256 bytes.
Concise summaries of the current state of the Tockchain DLT, used for re-synchronizing offline nodes.
A Transaction in the Tockchain DLT with advanced functionality, such as Multi-Signature Spend Transaction, Poolswap Transaction, or Hashlock Transaction, enabling complex operations like trading or secure transfers in the Tockchain DLT.
Buying or trading tokens for profit based on short-term price movements, prohibited for VSTABLE Tokens, though selling for non-speculative reasons (e.g., financial need, KYC non-compliance) is allowed.
Valis’s implementation of a Crypto Stablecoin in the Tockchain DLT, such as VUSD, pegged to the US dollar and used as a stable medium of exchange in Transactions, Trading in a Orderbook, or swaps in a Liquidity Pool for decentralized finance applications.
The mechanism by which Valis Stablecoins Net Profit from Valis Stablecoin operations is distributed through the Valis Stablecoins Revenue Share Agreement to VSTABLE Token holders, based on their token share of the 100 billion total supply, managed through periodic Token Version updates.
An Investor who does not have Key Investor status.
Standard Investors receive Standard Reporting.
Standard Investors receive Standard Reporting.
Periodic updates with key metrics, excluding confidential information, available to Approved Profiles, Declined Profiles, and the public regarding Valis and VSTABLE Token performance.
A Transaction in the Tockchain DLT that performs basic Asset transfers, such as Send Transaction or Burn Transaction, moving Assets like VUSD between addresses in the Tockchain Ledger.
A hash representing the Tockchain DLT's state after processing a Tock.
A Market Neutral Strategies approach that exploits short-term mispricings between correlated digital Asset using statistical models, mean reversion signals, and high-frequency execution.
The exchange of one Asset for another in the Tockchain DLT, facilitated by a Poolswap in a Liquidity Pool or an Atomic Swap via a Hashlock Transaction.
A Transaction in the Tockchain DLT that manages network operations, such as Node Addition Transaction or Update Cancellation Transaction, configuring the Tockchain Network to ensure stability and synchronization.
A user in the Tockchain DLT’s Orderbook who accepts an existing Maker’s buy or sell order for an Asset, completing a trade via a Taker Order Transaction.
A Special Transaction Type in the Tockchain DLT that accepts an existing Maker order on the Orderbook, specifying the Taker, Assets, price, and amount to complete the trade.
A Crypto Testnet for the Tockchain DLT, enabling Testnet Nodes to perform Consensus Network and Validation Network operations, preparing for Mainnet deployment. There are three types of Tockchain Testnets: Core Testnets, Qualification Testnets, and Development Testnets.
A Consensus Node or Validation Node configured for a Testnet, meeting requirements to test Transaction processing and Tockchain Consensus.
A designated version of a Testnet, such as Testnet 1.0.0 or 2.0.0, defined by specific features, objectives, and timelines to track testing progress.
A valueless version of Tokens, such as testnet-specific VUSD or VNET, used in a Testnets to simulate Transactions, such as Send Transaction or Poolswap Transaction, without impacting the mainnet Asset.
A cryptographic protocol that enables distributed key generation and signing, where a group of parties collaboratively produce a digital signature without any single party holding the full private key. It requires a predefined threshold (e.g., t-of-n participants) to approve and generate the signature, enhancing security by eliminating single points of failure.
In Blockchain contexts, a Threshold Signature Scheme (TSS) is commonly used in Multi-Party Computation (MPC) wallets and protocols to authorize transactions securely, such as in cross-chain bridges or custody solutions, while maintaining privacy of individual keys. This approach provides resilience against key compromise and supports applications like decentralized validators or secure asset transfers.
In Blockchain contexts, a Threshold Signature Scheme (TSS) is commonly used in Multi-Party Computation (MPC) wallets and protocols to authorize transactions securely, such as in cross-chain bridges or custody solutions, while maintaining privacy of individual keys. This approach provides resilience against key compromise and supports applications like decentralized validators or secure asset transfers.
A small, discrete unit of time used to measure or trigger actions in real-time systems. The term originated in the late 19th century in telegraphy, gained prominence in computing by the 1960s (e.g., task scheduling in IBM’s OS/360), and was also used in early 20th-century finance to denote the smallest price movement of a security.
The core time unit in the Tockchain DLT, equal to a one-second UTC timestamp in the Tockchain Consensus mechanism, during which one block is generated and one VNET reward is minted and distributed.
The word “Tock” is a portmanteau coined by Valis blending “Tick" (a time interval) and “Block" (from Blockchain), to form "tock".
The word “Tock” is a portmanteau coined by Valis blending “Tick" (a time interval) and “Block" (from Blockchain), to form "tock".
A metric representing the reliability and effectiveness of the Tockchain Consensus mechanism, expressed as a percentage, which measures the proportion of Tocks that successfully contribute to the consensus process and include validated Transactions relative to the total number of tocks produced over a defined period.
This metric is calculated by dividing the number of non-Empty Tocks by the total number of tocks over a defined period, then multiplying by 100 to express as a percentage.
Example: In a one-hour period (3,600 seconds, or 3,600 tocks), the Tockchain Network experiences 36 empty tocks due to node failures. The number of non-empty tocks is 3,564. The Tock Quality is calculated as 3,564 divided by 3,600, multiplied by 100, resulting in 99%. This indicates that 99% of tocks successfully contributed to consensus, with a 1% Failure Rate attributable to empty tocks.
This metric is calculated by dividing the number of non-Empty Tocks by the total number of tocks over a defined period, then multiplying by 100 to express as a percentage.
Example: In a one-hour period (3,600 seconds, or 3,600 tocks), the Tockchain Network experiences 36 empty tocks due to node failures. The number of non-empty tocks is 3,564. The Tock Quality is calculated as 3,564 divided by 3,600, multiplied by 100, resulting in 99%. This indicates that 99% of tocks successfully contributed to consensus, with a 1% Failure Rate attributable to empty tocks.
Valis’s implementation of a Crypto Coinbase Reward in the Tockchain DLT, consisting of VNET issued every Tock. It rewards network contributors through a Tock Reward Transaction to:
- Liquidity Provider (80%).
- Consensus Node Operators (10%).
- Valis (10%).
- Liquidity Provider (80%).
- Consensus Node Operators (10%).
- Valis (10%).
The mechanism that mints and distributes 1 VNET every Tock to a specific Tockchain Stakeholder group, with each Tock in a Network Reward Cycle corresponding to a different recipient.
A Transaction in the Tockchain DLT that distributes the Tock Reward in VNET to accounts of Liquidity Provider (80%), Consensus Node Operators (10%), and Valis (10%) for network contributions each Tock.
A second-level portmanteau coined by Valis, blending “Tock" with "chain" (from Blockchain), naming the Tockchain DLT where a tock is a one-second UTC timestamp in the Tockchain Consensus mechanism.
An automated system in the Tockchain DLT that executes Trading to equalize prices between the Orderbook and Liquidity Pool, minimizing price discrepancies.
The leaderless quorum-based mechanism used by the Tockchain DLT’s Consensus Network to agree on the set and order of transactions for each Tock.
A distributed ledger technology (DLT) developed by Valis, featuring a Dual-Network L1 Blockchain that splits the traditional L1 into Consensus Network and Validation Network.
The integrated environment of the Tockchain distributed ledger technology (DLT), including its Consensus Network, Validation Network, Tockchain Middleware, and other components that enable transaction processing, asset management, and decentralized applications (dApps) within the Tockchain Network.
The immutable record of transactions and state changes maintained by the Tockchain DLT, updated each Tock with data from the Consensus Network and Validation Network, traceable to its genesis block within the Tockchain DLT.
Software that facilitates interaction with the Tockchain Network, including transaction handling and data access.
The infrastructure of Consensus Nodes and Validation Nodes operating the Tockchain DLT’s Consensus Network and Validation Networks to maintain the Dual-Network L1 Blockchain.
A research project launched by Valis to develop a new DLT designed from the ground up for stablecoins and DeFi, combining high throughput and high reliability.
In the Tockchain Ecosystem, the group formed by the following three entities:
- Liquidity Provider: Supply capital to pools and orders, enhancing network liquidity.
- Consensus Node Operators: Generate blocks, strengthening network security.
- Valis: Oversees ecosystem development and maintenance.
- Liquidity Provider: Supply capital to pools and orders, enhancing network liquidity.
- Consensus Node Operators: Generate blocks, strengthening network security.
- Valis: Oversees ecosystem development and maintenance.
An identifier in the Tockchain DLT that links transactions to their respective Tocks for efficient organization and retrieval in the Tockchain Ledger. It serves as a compact transaction hash, using 6 bytes instead of the standard 32-byte format.
An internal structure that enables Parallel Transaction Processing within the Tockchain DLT, contributing to its high throughput.
Valis’s implementation of a Crypto Token in the Tockchain DLT, such as VUSD, VNET, VPOINT, or QUBIC, issued and managed for use in Transactions like Send Transaction or Poolswap Transaction within the Tockchain DLT.
A potential forced swap of VSTABLE Tokens into Valis equity if the VSTABLE open market supply falls below 10%, calculated as Market Value of Remaining VSTABLE Tokens / Valis Market Valuation, adjusted by the revenue share of the Valis Stablecoins line of business, with revenue sharing ceasing upon execution.
The distribution of VSTABLE Tokens through sequential funding rounds, intended as a revenue-sharing mechanism tied to Valis Stablecoin success, prohibiting Speculation but allowing sales for non-speculative reasons like financial need or KYC non-compliance.
An acronym for Transactions Per Second.
The buying, selling, or Swapping of Assets, such as VUSD or QUBIC, in the Tockchain DLT through mechanisms like Orderbook or Liquidity Pool, facilitated by transactions like Poolswap Transaction or Maker Order Transaction in the Tockchain DLT.
Valis’s implementation of a Crypto Transaction in the Tockchain DLT that modifies the Tockchain Ledger, identified by a TXID. The Tockchain DLT supports three transaction types: Standard Transaction, Special Transaction Type, and System Transaction.
The average number of Transactions that can be included in a single Block on a Blockchain network, reflecting the block’s capacity to handle transaction volume under typical conditions.
This metric is calculated as the Block Size divided by the Smallest Transaction Size, rounded down to the nearest whole number to account for the maximum integer number of transactions that fit within a block’s data limit, based on the blockchain’s protocol specifications.
Example: If a Block has a Block Size of 1,000,000 bytes and the smallest transaction size is 250 bytes, the Transactions per Block is calculated as 1,000,000 divided by 250, which equals 4,000. This indicates that up to 4,000 transactions can be included in the block.
This metric is calculated as the Block Size divided by the Smallest Transaction Size, rounded down to the nearest whole number to account for the maximum integer number of transactions that fit within a block’s data limit, based on the blockchain’s protocol specifications.
Example: If a Block has a Block Size of 1,000,000 bytes and the smallest transaction size is 250 bytes, the Transactions per Block is calculated as 1,000,000 divided by 250, which equals 4,000. This indicates that up to 4,000 transactions can be included in the block.
The number of Transactions processed per second by a Blockchain under typical operational conditions.
This metric is calculated as the total number of transactions processed over a given time interval divided by the duration of that interval in seconds.
Example: For a network processing 1,800 transactions in 60 seconds, Transactions Per Second = 1,800 / 60 = 30 transactions per second.
This metric is calculated as the total number of transactions processed over a given time interval divided by the duration of that interval in seconds.
Example: For a network processing 1,800 transactions in 60 seconds, Transactions Per Second = 1,800 / 60 = 30 transactions per second.
The total adjusted value of assets locked in the Tockchain Ecosystem, including Liquidity Pools, Orderbook addresses, wallets, and Hashlock Transactions, measured in VUSD-equivalent holdings to determine Richlist Ranks and VNET rewards.
This metric is calculated by summing the adjusted value of all holdings: VUSD at $1, VNET at pool price if 1% of supply sold, and other assets at pool price if 10% of supply sold, with bids and orders contributing to liquidity even if unfilled.
If an address has a bid of $1,000,000 on VBTC at $1,000 (ensuring a spot in the 1,000 ID Richlist) and the adjusted value includes matching VUSD liquidity, the TVL contribution counts as $1,000,000, qualifying for VNET rewards if in the top 1000.
This metric is calculated by summing the adjusted value of all holdings: VUSD at $1, VNET at pool price if 1% of supply sold, and other assets at pool price if 10% of supply sold, with bids and orders contributing to liquidity even if unfilled.
If an address has a bid of $1,000,000 on VBTC at $1,000 (ensuring a spot in the 1,000 ID Richlist) and the adjusted value includes matching VUSD liquidity, the TVL contribution counts as $1,000,000, qualifying for VNET rewards if in the top 1000.
A unique identifier assigned to each transaction in the Tockchain DLT used externally to verify transaction validity. If valid, the transaction receives a Tockid for locating it in the Tockchain Ledger in the future.
A System Transaction in the Tockchain DLT that cancels a pending network configuration change, such as node addition or removal, to prevent unintended disruptions in the Tockchain Network.
One of the two networks in the Dual-Network L1 Tockchain DLT where Validation Nodes process and validate transactions from the Consensus Network, update the Tockchain Ledger state, and handle Special Transaction Types.
The Validation Network is distributed (run by many independent nodes), decentralized (no single entity controls it), and permissionless (anyone can join without needing approval).
The Validation Network is distributed (run by many independent nodes), decentralized (no single entity controls it), and permissionless (anyone can join without needing approval).
A node that operates in the Tockchain’s Validation Network, responsible for processing and validating transactions from the Consensus Network, updating the Tockchain Ledger state, and handling Special Transaction Types.
An entity that manages and operate Validation Nodes in the Tockchain DLT’s Validation Network. They handle the processing and validation of transactions, ensuring the integrity of the Tockchain Network.
Validation Node Operators (a.k.a. Validator Operators) do not receive Network Rewards.
Validation Node Operators (a.k.a. Validator Operators) do not receive Network Rewards.
The upcoming equity token issued by Valis, representing a share in Valis's equity and providing holders with governance rights, revenue share from Valis Stablecoins Net Profit, and participation in the Valis Ecosystem's decision-making. VALIS will have a variable supply starting at an initial 100 billion units, with no maximum limit, determined by the outcome of funding rounds.
A distributed ledger technology (DLT) organization developing the Tockchain DLT, focused on creating a high-throughput and reliable Blockchain solution for stablecoins and decentralized finance (DeFi) within the Valis Ecosystem.
Valis receives 10% of the Network Reward Cycle Amount, as funding for the continued development of the Tockchain Ecosystem.
Valis receives 10% of the Network Reward Cycle Amount, as funding for the continued development of the Tockchain Ecosystem.
The comprehensive suite of technologies, products, and services developed by Valis, including the Tockchain DLT, the Valis Hybrid DEX, and other Blockchain-related initiatives, designed to support stablecoins, decentralized finance (DeFi), and digital asset management.
A Stablecoin issued by Valis, such as VUSD, pegged to a stable asset like the US dollar, designed for use in the Tockchain Ecosystem for DeFi, payments, and Trading, generating Valis Stablecoins Net Profit for VSTABLE Token holders.
The total revenue generated by Valis Stablecoins before any deductions, including Network Rewards or operating expenses.
Valis Stablecoins Net Revenue minus all operating expenses, taxes, and other costs, representing the final profit available for distribution to VSTABLE holders.
The total revenue generated from Valis Stablecoins operations after deducting operating costs (salaries, infrastructure, compliance, marketing), platform fees, regulatory compliance, taxes, interest, depreciation, and both explicit (e.g., processing fees) and implicit (e.g., volatility, slippage) transaction costs, serving as the basis for distributions to VSTABLE Token holders.
Gross revenue minus network rewards, which are a variable percentage of Valis Stablecoins Gross Revenue determined by Valis and available for distribution to VNET holders.
The contractual framework governing the distribution of Valis Stablecoins Net Profit from Valis Stablecoin operations to VSTABLE Token holders, managed through Token Versions and subject to terms like Token Conversion, ensuring revenue sharing based on token ownership.
A series of funding rounds (Seed Round A, Seed Round B, Seed Round C, Seed Round D) to support the development of Valis Stablecoin, raising capital through the sale of VSTABLE Tokens, which grant a share of Valis Stablecoins Net Profit, concluded on December 22, 2024.
The native, non-governance token of the Tockchain Ecosystem. VNET is minted and distributed every Tock as Network Rewards to incentivize network contributions like liquidity provision, node operation, and ecosystem oversight from Tockchain Stakeholder. VNET holders receive a monthly share of Valis Stablecoins Gross Revenue through VUSD Payout to the VNET Liquidity Pool.
A decentralized reserve managed by the Tockchain Network, where VUSD from Valis Stablecoins Gross Revenue is credited monthly, proportional to VNET holdings, as part of the VUSD Payout process.
A Market Neutral Strategies approach that trades the spread between implied and realised volatility of digital Asset through options, perpetuals, and other derivatives.
A token planned by Valis to reward collaborators contributing to the Valis Ecosystem’s development, initially issued as a non-valued recognition of contributions. Upon the Tockchain DLT mainnet launch, VPOINT Token holders can swap their tokens for VNET at a predetermined rate, funded by Valis’s 10% share of the Tock Reward.
A revenue-sharing token issued by Valis for the Valis Stablecoin line of business, granting holders a right to a share of the Valis Stablecoins Net Profit generated by Valis Stablecoins, with a total supply of 100 billion units, tradable on Qubic’s Qx Decentralized Exchange, and currently at version VSTB001.
The dual-level reporting system for VSTABLE Token investors, offering Standard Reporting to all and Advanced Reporting to Key Investors, ensuring transparency for Valis Stablecoins while protecting confidential data.
A Stablecoin issued by Valis, pegged to the US dollar, designed for use within the Tockchain Ecosystem as a stable medium of exchange for DeFi and other applications.
The monthly distribution of VUSD (Valis Stablecoin) to the VNET Liquidity Pool, proportional to the amount of VNET held by each Address.
The total amount of time a Blockchain network is unavailable over a year, measured in days, indicating reliability issues and network performance gaps.
This metric is calculated as the product of 365 (the number of days in a year) and the Failure Rate (100% - Reliability %) divided by 100.
Example: For a Reliability of 95.25%, Yearly Downtime (in Days) = 365 × (100% - 95.25%) / 100 = 365 × 4.75 / 100 ≈ 17.34 days.
This metric is calculated as the product of 365 (the number of days in a year) and the Failure Rate (100% - Reliability %) divided by 100.
Example: For a Reliability of 95.25%, Yearly Downtime (in Days) = 365 × (100% - 95.25%) / 100 = 365 × 4.75 / 100 ≈ 17.34 days.
The total amount of time a Blockchain network is unavailable over a year, measured in hours, providing a finer granularity for reliability analysis.
This metric is calculated as the product of 8,760 (the number of hours in a year) and the Failure Rate (100% - Reliability %) divided by 100.
Example: For a Reliability of 95.25%, Yearly Downtime (in Hours) = 8,760 × (100% - 95.25%) / 100 = 8,760 × 4.75 / 100 ≈ 416.1 hours.
This metric is calculated as the product of 8,760 (the number of hours in a year) and the Failure Rate (100% - Reliability %) divided by 100.
Example: For a Reliability of 95.25%, Yearly Downtime (in Hours) = 8,760 × (100% - 95.25%) / 100 = 8,760 × 4.75 / 100 ≈ 416.1 hours.
Title
Glossary Term Definition
The process in the Tockchain DLT of exploiting price differences between the Orderbook and Liquidity Pool to profit from synchronized pricing, often automated by bots.
A sell order placed by a Maker on the Tockchain DLT’s Orderbook, specifying a price in VUSD to sell an Asset.
A buy order placed by a Maker on the Tockchain DLT’s Orderbook, specifying a price in VUSD to purchase an Asset.
A user in the Tockchain DLT’s Orderbook who places a buy or sell order for an Asset at a specific price in VUSD, creating liquidity through a Maker Order Transaction.
A specialized order in the Tockchain DLT’s Orderbook where a Maker specifies a particular Taker to complete a trade for an Asset.
A user in the Tockchain DLT’s Orderbook who accepts an existing Maker’s buy or sell order for an Asset, completing a trade via a Taker Order Transaction.
The buying, selling, or Swapping of Assets, such as VUSD or QUBIC, in the Tockchain DLT through mechanisms like Orderbook or Liquidity Pool, facilitated by transactions like Poolswap Transaction or Maker Order Transaction in the Tockchain DLT.
Title
Glossary Term Definition
A bundled set of data in a Blockchain, typically containing a list of transactions, a timestamp, a reference to the previous block (via its hash), and a cryptographic hash of its own content. Blocks are linked together chronologically to form the blockchain, ensuring data integrity and immutability.
In cryptocurrency, a distributed ledger of chained Block, secured by cryptographic techniques, recording Crypto Transactions across a network.
A unique alphanumeric identifier on a Blockchain, used to send, receive, or hold cryptocurrency. It functions like a digital wallet address, enabling secure transactions while maintaining user anonymity.
In cryptocurrency, a digital item of value on a Blockchain, such as tokens, native coins, or non-fungible tokens, used in transactions, smart contracts, or as a store of value.
In cryptocurrency, a trustless exchange of Crypto Tokens between two Blockchain networks, facilitated by a Crypto Hash Timelock Contract ensuring both parties fulfill the Crypto Swapping or funds are refunded.
In cryptocurrency, a reward given to network participants, such as miners in Proof of Work or validators in Proof of Stake systems, for securing and maintaining the distributed ledger by processing transactions and achieving consensus.
A periodic event in certain Blockchain networks where the reward for mining or validating transactions (e.g., block rewards) is reduced by half, typically to control token supply and inflation. Examples include Bitcoin, which halves rewards approximately every four years based on block height.
In cryptocurrency, a Crypto Smart Contract that locks funds until a secret hash is revealed or a locktime expires, enabling trust-less exchanges like Crypto Atomic Swaps.
In cryptocurrency, a temporary loss in value for Crypto Liquidity Providers when the prices of deposited Tokens in a Crypto Liquidity Pool diverge due to market volatility, compared to simply holding the tokens outside the pool. This risk is 'impermanent' because it realizes only upon withdrawal, and can be offset by earned fees or rewards in DeFi protocols.
In cryptocurrency, a user or entity that deposits Tokens into a Crypto Liquidity Pool to enable decentralized Trading, Swapping, or lending. Crypto Liquidity Providers earn fees, rewards, or interest proportional to their contribution, while bearing risks like Crypto Impermanent Loss.
In cryptocurrency, a Blockchain environment operating with real-value Asset and live Transactions, executing production operations, such as financial transfers or Crypto Smart Contract execution, with actual economic impact.
In cryptocurrency, a Trading system that matches buy and sell orders for Crypto Assets, using a Maker/Taker model where makers place orders at specified prices and takers accept them, common in centralized and decentralized exchanges.
The difference between the expected price of a Crypto Transaction and the actual executed price on a Blockchain, resulting from market volatility, low Crypto Liquidity Pool depth, or delayed order execution.
Positive slippage occurs when the executed price is better than expected, while negative slippage indicates a worse price, impacting traders and Crypto TVL across decentralized exchanges.
Positive slippage occurs when the executed price is better than expected, while negative slippage indicates a worse price, impacting traders and Crypto TVL across decentralized exchanges.
In cryptocurrency, a self-executing program on a Blockchain that automatically enforces the terms of an agreement, enabling decentralized applications, Crypto Token issuance, or financial services without intermediaries.
In cryptocurrency, a Crypto Token designed to maintain a stable value, typically pegged to a fiat currency like the US dollar, a commodity, or an algorithm, used for Crypto Transactions, decentralized finance, or as a store of value with reduced volatility.
In cryptocurrency Trading, the exchange of one Crypto Token for another, typically facilitated through decentralized protocols like Crypto Liquidity Pools or cross-chain mechanisms, enabling trust-less asset swaps.
In cryptocurrency, a Blockchain environment replicating Crypto Mainnet functionality, using valueless Testnet Tokens to test Transactions and Tockchain Consensus, enabling feature validation without financial risk.
In cryptocurrency, a digital asset on a Blockchain representing value, utility, or rights, such as currency, governance, or access. Issued via smart contracts or protocols and used in transactions, decentralized finance, or network operations.
In cryptocurrency, a recorded operation on a Blockchain that modifies its state, such as transferring Crypto Assets or executing smart contracts, identified by a unique identifier and validated by network participants.
The canonical set of predefined database views that every database in should have. They exist to standardize how databases are inspected, audited, and managed, so that any database can be understood and operated in a consistent way.
For a complete list of database basic views, see .
For a complete list of database basic views, see .
In cryptocurrency, often abbreviated as DeFi, a system of financial applications built on Blockchain networks that enables services like Trading, lending, and Crypto Token Crypto Swappingping without intermediaries, using Crypto Smart Contracts and decentralized protocols.
An abbreviation for Decentralized Finance.
A smart contract-based multi-signature wallet on Ethereum that enables secure storage and management of digital assets through customizable approval thresholds and modular extensions. It is open-source, non-custodial, and governed by SafeDAO.
In cryptocurrency, an address generated by hashing a public key or other data, used to securely identify accounts or Crypto Transactions, such as in Trading or wallet management.
A subfield of cryptography that enables multiple parties to jointly compute a function over their private inputs while keeping those inputs confidential from each other. It uses cryptographic protocols to ensure the computation reveals only the output and nothing about individual inputs.
In cryptocurrency, a security mechanism requiring multiple signatures to authorize a Crypto Transaction or manage a wallet address, enhancing security for assets like Crypto Tokens.
A defense against quantum computing attacks native to Tockchain that relies on physical constraints rather than algorithmic hardness alone. The mechanism centers on the Coldspend Transaction, which leverages speed-of-light propagation and the first-seen rule to sweep funds to a fresh Hashed Address before a quantum attacker can derive the private key from a momentarily exposed public key. Combined with Quantum Resistant Cold Storage, quantum protection is one of two approaches to achieving Quantum Security, the other being Quantum Resistance.
A defense against quantum computing attacks that relies on post-quantum cryptographic (PQC) algorithms whose security derives from mathematical problems believed to be hard for both classical and quantum computers. Examples include lattice-based, hash-based, and code-based schemes designed to replace algorithms vulnerable to Shor's algorithm. In the context of the Tockchain Ecosystem, quantum resistance is one of two approaches to achieving Quantum Security, the other being Quantum Protection.
A feature for securely storing funds to protect them from potential quantum computing threats. This feature is designed to ensure the safety of digital assets in an era where quantum technology could compromise traditional security measures.
The outcome of being cryptographically secure against attacks from quantum computers, regardless of the specific mechanism used to achieve it. In the Tockchain Ecosystem, quantum security is pursued through two complementary approaches:
- Quantum Resistance, which relies on post-quantum cryptographic (PQC) algorithms whose security derives from mathematical hardness assumptions.
- Quantum Protection, which relies on physical constraints, such as speed-of-light propagation and the first-seen rule, implemented natively in Tockchain via the Coldspend Transaction.
- Quantum Resistance, which relies on post-quantum cryptographic (PQC) algorithms whose security derives from mathematical hardness assumptions.
- Quantum Protection, which relies on physical constraints, such as speed-of-light propagation and the first-seen rule, implemented natively in Tockchain via the Coldspend Transaction.
A technique used to aggregate multiple transactions into a single batch, enhancing overall throughput and efficiency in transaction processing.
A cryptographic protocol that enables distributed key generation and signing, where a group of parties collaboratively produce a digital signature without any single party holding the full private key. It requires a predefined threshold (e.g., t-of-n participants) to approve and generate the signature, enhancing security by eliminating single points of failure.
In Blockchain contexts, a Threshold Signature Scheme (TSS) is commonly used in Multi-Party Computation (MPC) wallets and protocols to authorize transactions securely, such as in cross-chain bridges or custody solutions, while maintaining privacy of individual keys. This approach provides resilience against key compromise and supports applications like decentralized validators or secure asset transfers.
In Blockchain contexts, a Threshold Signature Scheme (TSS) is commonly used in Multi-Party Computation (MPC) wallets and protocols to authorize transactions securely, such as in cross-chain bridges or custody solutions, while maintaining privacy of individual keys. This approach provides resilience against key compromise and supports applications like decentralized validators or secure asset transfers.
A small, discrete unit of time used to measure or trigger actions in real-time systems. The term originated in the late 19th century in telegraphy, gained prominence in computing by the 1960s (e.g., task scheduling in IBM’s OS/360), and was also used in early 20th-century finance to denote the smallest price movement of a security.
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Glossary Term Definition
A unique alphanumeric identifier on the Tockchain Network, used to send, receive, or hold cryptocurrency. The address holder's position in the Richlist Rank, based on VUSD-equivalent holdings, determines their eligibility and chances of receiving Network Rewards.
Valis’s implementation of an Crypto Asset in the Tockchain DLT, such as VUSD, VNET, or VPOINT, identified by an Asset ID and used in Transactions like Send Transaction or Trading in a Liquidity Pool.
A unique identifier for each asset supported by the Tockchain DLT, enabling the management and tracking of multiple assets within the Tockchain DLT.
A secure exchange of one Asset for another across Blockchains in the Tockchain DLT, facilitated by a Hashlock Transaction using a secret hash and locktime, ensuring both parties complete the Swapping or funds are refunded.
A Transaction in the Tockchain DLT that facilitates interoperability with external Blockchains, such as External Chain Creation Transaction or External Asset Creation Transaction.
One of the two two networks in the Dual-Network L1 Tockchain DLT where Consensus Nodes agree on the set and order of transactions for each Tock.
The Consensus Network is distributed (run by many independent nodes), decentralized (no single entity controls it), and permissioned (nodes require Valis approval to participate).
The Consensus Network is distributed (run by many independent nodes), decentralized (no single entity controls it), and permissioned (nodes require Valis approval to participate).
A node that operates in the Tockchain DLT’s Consensus Network responsible for agreeing on the set and order of transactions for each Tock.
Consensus Nodes are also known as Generator Nodes.
Consensus Nodes are also known as Generator Nodes.
An entity that manages and operates Consensus Nodes in the Tockchain DLT’s Consensus Network. They are responsible for maintaining consensus of the Tockchain Network.
Consensus Node Operators receive 10% of the Network Reward Cycle Amount, as compensation for operating and maintaining the Tockchain Network.
Consensus Node Operators receive 10% of the Network Reward Cycle Amount, as compensation for operating and maintaining the Tockchain Network.
The steps involved in achieving agreement in the Tockchain Consensus:
1. Transaction Broadcast.
2. Transaction Summary.
3. Summary Voting.
4. Winning Subsets.
5. Subset Sync.
6. Collision Detection.
7. Signature.
1. Transaction Broadcast.
2. Transaction Summary.
3. Summary Voting.
4. Winning Subsets.
5. Subset Sync.
6. Collision Detection.
7. Signature.
The combined Consensus Network and Validation Network within the Tockchain DLT’s Dual-Network L1 Blockchain, enabling efficient transaction consensus and validation.
A Tock in the Tockchain DLT with no validated Transactions due to network issues, node failures, or bugs, indicating a temporary failure in Tockchain Consensus.
Transactions marked as invalid in the Tockdata, identified during the validation process in the Validation Network.
Valis’s implementation of Crypto Impermanent Loss in the Tockchain DLT, where Liquidity Provider may experience temporary value divergence in pooled Assets (e.g., VUSD and QUBIC) due to price changes during Token Swapping or Trading. Liquidity providers can mitigate this through strategies like balanced pools or by holding for VNET from Tock Rewards.
Slippage from trades causes liquidity pool rebalancing, contributing to impermanent loss over time, but they're distinct concepts: slippage is trade cost, while impermanent loss is a liquidity provider volatility loss.
Slippage from trades causes liquidity pool rebalancing, contributing to impermanent loss over time, but they're distinct concepts: slippage is trade cost, while impermanent loss is a liquidity provider volatility loss.
Valis’s implementation of a Crypto Liquidity Pool in the Tockchain DLT, holding a reserve of Assets, such as VUSD and QUBIC, to facilitates Token Swapping and Trading, requiring a minimum 1000 VUSD deposit to create and fund for functionality.
Valis’s implementation of a Crypto Liquidity Provider in the Tockchain DLT, where users or entities deposit Assets into Liquidity Pool to facilitate Trading and Swapping of Tokens, such as VUSD.
Liquidity Providers receive 80% of the Network Reward Cycle Amount from each, as compensation for maintaining liquidity in the network and bearing associated risks such as Impermanent Loss.
Liquidity Providers receive 80% of the Network Reward Cycle Amount from each, as compensation for maintaining liquidity in the network and bearing associated risks such as Impermanent Loss.
An entity that manages and operates Consensus Nodes and/or Validation Nodes on the Tockchain DLT. Node operators can function as a Consensus Node Operator, a Validation Node Operator, or serve both roles.
A method in the Tockchain DLT that enhances transaction validation speed through parallel transaction processing.
The exchange of one Asset for another within a Liquidity Pool in the Tockchain DLT, executed via a Poolswap Transaction to facilitate Trading.
The endorsements (signatures) obtained from a quorum of Consensus Nodes (two-thirds plus one), confirming consensus on the transaction set and ensuring agreement among participating nodes.
A restricted name for Asset in the Tockchain DLT, such as COINSMINTED, POOLSHARES, or VUSD, to prevent conflicts with system-defined assets or pool identifiers.
The difference between the expected price of a trade and the actual executed price on the Tockchain DLT’s Orderbook or Liquidity Pool, resulting from market volatility, low liquidity, or delayed order execution. Positive slippage occurs when the executed price is better than expected, while negative slippage indicates a worse price, impacting traders and TVL calculations.
Concise summaries of the current state of the Tockchain DLT, used for re-synchronizing offline nodes.
Valis’s implementation of a Crypto Stablecoin in the Tockchain DLT, such as VUSD, pegged to the US dollar and used as a stable medium of exchange in Transactions, Trading in a Orderbook, or swaps in a Liquidity Pool for decentralized finance applications.
A hash representing the Tockchain DLT's state after processing a Tock.
The exchange of one Asset for another in the Tockchain DLT, facilitated by a Poolswap in a Liquidity Pool or an Atomic Swap via a Hashlock Transaction.
The core time unit in the Tockchain DLT, equal to a one-second UTC timestamp in the Tockchain Consensus mechanism, during which one block is generated and one VNET reward is minted and distributed.
The word “Tock” is a portmanteau coined by Valis blending “Tick" (a time interval) and “Block" (from Blockchain), to form "tock".
The word “Tock” is a portmanteau coined by Valis blending “Tick" (a time interval) and “Block" (from Blockchain), to form "tock".
Valis’s implementation of a Crypto Coinbase Reward in the Tockchain DLT, consisting of VNET issued every Tock. It rewards network contributors through a Tock Reward Transaction to:
- Liquidity Provider (80%).
- Consensus Node Operators (10%).
- Valis (10%).
- Liquidity Provider (80%).
- Consensus Node Operators (10%).
- Valis (10%).
A Transaction in the Tockchain DLT that distributes the Tock Reward in VNET to accounts of Liquidity Provider (80%), Consensus Node Operators (10%), and Valis (10%) for network contributions each Tock.
A second-level portmanteau coined by Valis, blending “Tock" with "chain" (from Blockchain), naming the Tockchain DLT where a tock is a one-second UTC timestamp in the Tockchain Consensus mechanism.
An automated system in the Tockchain DLT that executes Trading to equalize prices between the Orderbook and Liquidity Pool, minimizing price discrepancies.
The leaderless quorum-based mechanism used by the Tockchain DLT’s Consensus Network to agree on the set and order of transactions for each Tock.
A distributed ledger technology (DLT) developed by Valis, featuring a Dual-Network L1 Blockchain that splits the traditional L1 into Consensus Network and Validation Network.
The integrated environment of the Tockchain distributed ledger technology (DLT), including its Consensus Network, Validation Network, Tockchain Middleware, and other components that enable transaction processing, asset management, and decentralized applications (dApps) within the Tockchain Network.
The immutable record of transactions and state changes maintained by the Tockchain DLT, updated each Tock with data from the Consensus Network and Validation Network, traceable to its genesis block within the Tockchain DLT.
Software that facilitates interaction with the Tockchain Network, including transaction handling and data access.
The infrastructure of Consensus Nodes and Validation Nodes operating the Tockchain DLT’s Consensus Network and Validation Networks to maintain the Dual-Network L1 Blockchain.
A research project launched by Valis to develop a new DLT designed from the ground up for stablecoins and DeFi, combining high throughput and high reliability.
An identifier in the Tockchain DLT that links transactions to their respective Tocks for efficient organization and retrieval in the Tockchain Ledger. It serves as a compact transaction hash, using 6 bytes instead of the standard 32-byte format.
An internal structure that enables Parallel Transaction Processing within the Tockchain DLT, contributing to its high throughput.
Valis’s implementation of a Crypto Token in the Tockchain DLT, such as VUSD, VNET, VPOINT, or QUBIC, issued and managed for use in Transactions like Send Transaction or Poolswap Transaction within the Tockchain DLT.
A unique identifier assigned to each transaction in the Tockchain DLT used externally to verify transaction validity. If valid, the transaction receives a Tockid for locating it in the Tockchain Ledger in the future.
One of the two networks in the Dual-Network L1 Tockchain DLT where Validation Nodes process and validate transactions from the Consensus Network, update the Tockchain Ledger state, and handle Special Transaction Types.
The Validation Network is distributed (run by many independent nodes), decentralized (no single entity controls it), and permissionless (anyone can join without needing approval).
The Validation Network is distributed (run by many independent nodes), decentralized (no single entity controls it), and permissionless (anyone can join without needing approval).
A node that operates in the Tockchain’s Validation Network, responsible for processing and validating transactions from the Consensus Network, updating the Tockchain Ledger state, and handling Special Transaction Types.
An entity that manages and operate Validation Nodes in the Tockchain DLT’s Validation Network. They handle the processing and validation of transactions, ensuring the integrity of the Tockchain Network.
Validation Node Operators (a.k.a. Validator Operators) do not receive Network Rewards.
Validation Node Operators (a.k.a. Validator Operators) do not receive Network Rewards.
A distributed ledger technology (DLT) organization developing the Tockchain DLT, focused on creating a high-throughput and reliable Blockchain solution for stablecoins and decentralized finance (DeFi) within the Valis Ecosystem.
Valis receives 10% of the Network Reward Cycle Amount, as funding for the continued development of the Tockchain Ecosystem.
Valis receives 10% of the Network Reward Cycle Amount, as funding for the continued development of the Tockchain Ecosystem.
The comprehensive suite of technologies, products, and services developed by Valis, including the Tockchain DLT, the Valis Hybrid DEX, and other Blockchain-related initiatives, designed to support stablecoins, decentralized finance (DeFi), and digital asset management.
Title
Glossary Term Definition
A Node Operator managing a Consensus Node or Validation Node in a Core Testnet, ensuring network stability and validating core Tockchain DLT features like Tockchain Consensus, or in the Mainnet, supporting production-ready operations.
A public Testnet focused on validating network stability and core Tockchain DLT features, such as Tockchain Consensus and Transaction throughput, under production-like conditions, enabling public testing before Mainnet deployment.
A private Testnet, also known as DevNet, operated solely by Valis to test new binaries and experimental features, such as new Special Transaction Types internally before public release to a Core Testnet or Mainnet.
An abbreviation for Development Testnet.
A Crypto Mainnet for the Tockchain DLT, enabling Consensus Nodes and Validation Nodes to process live Transactions and Assets like VUSD, maintaining Tockchain Consensus with high reliability, to support real-world operations in the Tockchain Ecosystem.
A Consensus Node or Validation Node configured for the Mainnet, meeting requirements to process live Transactions and maintain Tockchain Consensus.
A Node Operator undergoing training and certification in a Qualification Testnet, developing proficiency in managing Consensus Nodes or Validation Nodes to maintain Tockchain Consensus, preparing for Core Node Operator responsibilities.
A public Testnet designed to train and certify Qualification Node Operators, ensuring proficiency in maintaining Tockchain Consensus and Tockchain Network operations, before advancing to the Core Node Operator status.
A Crypto Testnet for the Tockchain DLT, enabling Testnet Nodes to perform Consensus Network and Validation Network operations, preparing for Mainnet deployment. There are three types of Tockchain Testnets: Core Testnets, Qualification Testnets, and Development Testnets.
A Consensus Node or Validation Node configured for a Testnet, meeting requirements to test Transaction processing and Tockchain Consensus.
A designated version of a Testnet, such as Testnet 1.0.0 or 2.0.0, defined by specific features, objectives, and timelines to track testing progress.
A valueless version of Tokens, such as testnet-specific VUSD or VNET, used in a Testnets to simulate Transactions, such as Send Transaction or Poolswap Transaction, without impacting the mainnet Asset.
Title
Glossary Term Definition
The average number of real Transactions Per Second by a Blockchain over a specified period, based on real-world Crypto Mainnet data, excluding Crypto Testnet and stress test results.
This metric is calculated as the total number of transactions recorded over the specified period divided by the total seconds in that period, averaged across operational data from the mainnet.
Example: For a blockchain processing 2,592,000 transactions over a 24-hour period (86,400 seconds), the Average TPS = 2,592,000 / 86,400 ≈ 30 transactions per second.
This metric is calculated as the total number of transactions recorded over the specified period divided by the total seconds in that period, averaged across operational data from the mainnet.
Example: For a blockchain processing 2,592,000 transactions over a 24-hour period (86,400 seconds), the Average TPS = 2,592,000 / 86,400 ≈ 30 transactions per second.
The maximum data capacity of a block in a Blockchain, typically measured in bytes, which determines the potential number of Transactions per Block.
This metric is calculated as the predefined limit set by the blockchain protocol, often adjusted based on network consensus rules (e.g., 1MB for Bitcoin, variable for others).
Example: For a blockchain with a predefined limit of 1 MB (1,048,576 bytes), the Block Size = 1,048,576 bytes.
This metric is calculated as the predefined limit set by the blockchain protocol, often adjusted based on network consensus rules (e.g., 1MB for Bitcoin, variable for others).
Example: For a blockchain with a predefined limit of 1 MB (1,048,576 bytes), the Block Size = 1,048,576 bytes.
The average time interval required to generate a new Block on a Blockchain network influencing Transaction confirmation speed and network throughput.
This metric is calculated as the total time taken to mine or validate a set number of blocks divided by the number of blocks, typically averaged over a recent period (e.g., 10 minutes for Bitcoin).
Example: For a network where 10 blocks are mined in 1,000 seconds, the Block Time = 1,000 / 10 = 100 seconds per block.
This metric is calculated as the total time taken to mine or validate a set number of blocks divided by the number of blocks, typically averaged over a recent period (e.g., 10 minutes for Bitcoin).
Example: For a network where 10 blocks are mined in 1,000 seconds, the Block Time = 1,000 / 10 = 100 seconds per block.
A Valis-developed metric that represents the overall performance of a Blockchain network, combining Transaction throughput (measured in Transactions Per Second, TPS) and network reliability (measured in number of nines) into a single score.
This metric is calculated as the square root of the product of TPS and 10 raised to the power of the number of nines in reliability (e.g., √(TPS × 10^Reliability), where 99.99% reliability = 4 nines).
Example: For a network with TPS = 30,000 and Reliability = 5 nines (99.999%), CPS = √(30,000 × 10^5) ≈ √3,000,000,000 ≈ 54,772.
This metric is calculated as the square root of the product of TPS and 10 raised to the power of the number of nines in reliability (e.g., √(TPS × 10^Reliability), where 99.99% reliability = 4 nines).
Example: For a network with TPS = 30,000 and Reliability = 5 nines (99.999%), CPS = √(30,000 × 10^5) ≈ √3,000,000,000 ≈ 54,772.
The estimated cost per Transaction on a Blockchain, based on the network’s operational expenses and its maximum transaction processing capacity.
This metric is calculated as the Network Cost per Second divided by the Maximum Theoretical TPS, where Network Cost per Second is derived from the Network Cost per Month divided by the number of seconds in an average month (2,629,800 seconds).
Example: With a Network Cost per Second = $10 (from $26,298/month ÷ 2,629,800 seconds) and Peak TPS = 30,000, Cost per Transaction = $10 / 30,000 ≈ $0.000333 per transaction.
This metric is calculated as the Network Cost per Second divided by the Maximum Theoretical TPS, where Network Cost per Second is derived from the Network Cost per Month divided by the number of seconds in an average month (2,629,800 seconds).
Example: With a Network Cost per Second = $10 (from $26,298/month ÷ 2,629,800 seconds) and Peak TPS = 30,000, Cost per Transaction = $10 / 30,000 ≈ $0.000333 per transaction.
The total value of digital assets locked or deposited in Decentralized Finance protocols or platforms on a Blockchain, measured in a fiat currency like USD, to gauge the overall size, liquidity, and activity of the ecosystem.
This metric is calculated by summing the market value (in USD) of all assets deposited or locked across the protocol's Crypto Smart Contracts at a given time.
Example: If a DeFi protocol has 10,000 ETH (valued at $2,000 each) and 5 million USDC (valued at $1 each) locked, the Crypto TVL is (10,000 × 2,000) + (5,000,000 × 1) = $25,000,000.
This metric is calculated by summing the market value (in USD) of all assets deposited or locked across the protocol's Crypto Smart Contracts at a given time.
Example: If a DeFi protocol has 10,000 ETH (valued at $2,000 each) and 5 million USDC (valued at $1 each) locked, the Crypto TVL is (10,000 × 2,000) + (5,000,000 × 1) = $25,000,000.
The period during which a Blockchain network is unable to fully perform its intended functions, including processing validated Transactions or maintaining Tockchain Consensus. Downtime may include full network unavailability due to outages or partial disruptions, such as temporary consensus failures, where the network remains operational but cannot validate transactions.
Downtime is determined by identifying the total time over a defined period during which the network fails to process validated transactions, either fully (outages) or partially (consensus failures), and is typically expressed in seconds, hours, or days depending on the context.
Example: If the Tockchain Network experiences a 10-minute outage and 50 Empty Tocks due to consensus issues over a day (86,400 seconds), the downtime is 600 seconds (outage) plus 50 seconds (one second per empty tock), resulting in 650 seconds of total downtime.
Downtime is determined by identifying the total time over a defined period during which the network fails to process validated transactions, either fully (outages) or partially (consensus failures), and is typically expressed in seconds, hours, or days depending on the context.
Example: If the Tockchain Network experiences a 10-minute outage and 50 Empty Tocks due to consensus issues over a day (86,400 seconds), the downtime is 600 seconds (outage) plus 50 seconds (one second per empty tock), resulting in 650 seconds of total downtime.
The percentage of time a Blockchain network is unavailable due to Downtime or operational failures, inversely related to reliability.
This metric is calculated as 100% minus the Reliability (in Percentage) of the network over a given period.
Example: For a Reliability of 95.25%, Failure Rate = 100% - 95.25% = 4.75%.
This metric is calculated as 100% minus the Reliability (in Percentage) of the network over a given period.
Example: For a Reliability of 95.25%, Failure Rate = 100% - 95.25% = 4.75%.
The theoretical maximum number of Transactions Per Second a Blockchain can handle, based on its Block Size, Smallest Transaction Size, and Block Time under optimal conditions.
This metric is calculated as the block size divided by the smallest transaction size, divided by the block time (in seconds), assuming ideal network conditions and no congestion.
Example: With a Block Size = 1 MB (1,048,576 bytes), Smallest Transaction Size = 256 bytes, and Block Time = 1 second, Maximum Theoretical TPS = 1,048,576 / 256 / 1 ≈ 4,096 transactions per second.
This metric is calculated as the block size divided by the smallest transaction size, divided by the block time (in seconds), assuming ideal network conditions and no congestion.
Example: With a Block Size = 1 MB (1,048,576 bytes), Smallest Transaction Size = 256 bytes, and Block Time = 1 second, Maximum Theoretical TPS = 1,048,576 / 256 / 1 ≈ 4,096 transactions per second.
The total operational cost of a Blockchain network per month, measured in USD, covering infrastructure, energy, and maintenance expenses.
This metric is calculated as the sum of all operational costs (e.g., node hosting, energy, bandwidth) incurred by the network over a 30.44-day average month.
Example: If the total operational cost for a network is $26,298 over a 30.44-day month, the Network Cost per Month = $26,298.
This metric is calculated as the sum of all operational costs (e.g., node hosting, energy, bandwidth) incurred by the network over a 30.44-day average month.
Example: If the total operational cost for a network is $26,298 over a 30.44-day month, the Network Cost per Month = $26,298.
The real-time operational cost of a Blockchain network per second, measured in USD, used to assess economic efficiency.
This metric is calculated as the Network Cost per Month divided by the number of seconds in an average month (2,629,800 seconds, based on 30.44 days).
Example: With a Network Cost per Month = $26,298, Network Cost per Second = $26,298 / 2,629,800 ≈ $0.01 per second.
This metric is calculated as the Network Cost per Month divided by the number of seconds in an average month (2,629,800 seconds, based on 30.44 days).
Example: With a Network Cost per Month = $26,298, Network Cost per Second = $26,298 / 2,629,800 ≈ $0.01 per second.
The cost of operating a single node in a Blockchain network per month, measured in USD, including hardware, energy, and maintenance expenses.
This metric is calculated as the total cost of resources (e.g., server costs, electricity) required to run one node over a 30.44-day average month.
Example: If running one node costs $500 in hardware and energy over a 30.44-day month, the Node Cost per Month = $500.
This metric is calculated as the total cost of resources (e.g., server costs, electricity) required to run one node over a 30.44-day average month.
Example: If running one node costs $500 in hardware and energy over a 30.44-day month, the Node Cost per Month = $500.
The total number of active nodes participating in a Blockchain network, indicating its decentralization and operational scale.
This metric is calculated as the count of nodes actively validating Transactions or maintaining the network ledger at a given time.
Example: If 100 nodes are actively validating transactions, the Node Count = 100.
This metric is calculated as the count of nodes actively validating Transactions or maintaining the network ledger at a given time.
Example: If 100 nodes are actively validating transactions, the Node Count = 100.
The highest number of Transactions Per Second observed on a Blockchain under real-world Crypto Mainnet conditions over a short-term peak period.
This metric is calculated as the maximum value of Transactions Per Second recorded during a specific high-traffic event or period on the mainnet.
Example: During a high-traffic event, a network records a maximum of 35,000 transactions in 1 second, so Peak TPS = 35,000 transactions per second.
This metric is calculated as the maximum value of Transactions Per Second recorded during a specific high-traffic event or period on the mainnet.
Example: During a high-traffic event, a network records a maximum of 35,000 transactions in 1 second, so Peak TPS = 35,000 transactions per second.
The highest number of Transactions Per Second recorded on the Crypto Mainnet under real-world conditions during a peak period.
This metric is calculated as the Peak TPS value observed during a high-traffic event on the mainnet.
This metric is calculated as the Peak TPS value observed during a high-traffic event on the mainnet.
The highest number of Transactions Per Second recorded on a ’s Crypto Testnet under simulated or real-world conditions.
This metric is calculated as the Peak TPS value observed during a stress test or high-traffic simulation on the testnet.
This metric is calculated as the Peak TPS value observed during a stress test or high-traffic simulation on the testnet.
The instantaneous number of Transactions Per Second currently being processed by a Blockchain network.
This metric is calculated as the number of transactions processed within the most recent one-second interval, updated continuously.
This metric is calculated as the number of transactions processed within the most recent one-second interval, updated continuously.
A metric representing the reliability of a Blockchain network, expressed as the number of consecutive nines in its uptime percentage (e.g., 99.999% equals 5 nines).
This metric is calculated by determining the number of consecutive nines in the Reliability (in Percentage) value.
Example: For a Reliability of 99.9%, the Reliability (in Number of Nines) = 3 nines. For a Reliability of 99.99%, Reliability (in Number of Nines) = 4 nines.
This metric is calculated by determining the number of consecutive nines in the Reliability (in Percentage) value.
Example: For a Reliability of 99.9%, the Reliability (in Number of Nines) = 3 nines. For a Reliability of 99.99%, Reliability (in Number of Nines) = 4 nines.
The percentage of time a Blockchain network remains operational without Downtime, reflecting its reliability.
This metric is calculated as the total uptime duration divided by the total observation period (e.g., a year), multiplied by 100.
Example: If a network is operational for 315,360 seconds out of 315,360,000 seconds in a year, Reliability (in Percentage) = (315,360 / 315,360,000) × 100 = 99.9%.
This metric is calculated as the total uptime duration divided by the total observation period (e.g., a year), multiplied by 100.
Example: If a network is operational for 315,360 seconds out of 315,360,000 seconds in a year, Reliability (in Percentage) = (315,360 / 315,360,000) × 100 = 99.9%.
The minimum data size of a transaction on a Blockchain, typically measured in bytes, used to estimate maximum transaction capacity.
This metric is calculated as the smallest possible transaction data unit defined by the blockchain protocol, based on its data structure (e.g., inputs, outputs).
Example: For a blockchain where the minimum transaction data is 256 bytes (e.g., including inputs and outputs), the Smallest Transaction Size = 256 bytes.
This metric is calculated as the smallest possible transaction data unit defined by the blockchain protocol, based on its data structure (e.g., inputs, outputs).
Example: For a blockchain where the minimum transaction data is 256 bytes (e.g., including inputs and outputs), the Smallest Transaction Size = 256 bytes.
A metric representing the reliability and effectiveness of the Tockchain Consensus mechanism, expressed as a percentage, which measures the proportion of Tocks that successfully contribute to the consensus process and include validated Transactions relative to the total number of tocks produced over a defined period.
This metric is calculated by dividing the number of non-Empty Tocks by the total number of tocks over a defined period, then multiplying by 100 to express as a percentage.
Example: In a one-hour period (3,600 seconds, or 3,600 tocks), the Tockchain Network experiences 36 empty tocks due to node failures. The number of non-empty tocks is 3,564. The Tock Quality is calculated as 3,564 divided by 3,600, multiplied by 100, resulting in 99%. This indicates that 99% of tocks successfully contributed to consensus, with a 1% Failure Rate attributable to empty tocks.
This metric is calculated by dividing the number of non-Empty Tocks by the total number of tocks over a defined period, then multiplying by 100 to express as a percentage.
Example: In a one-hour period (3,600 seconds, or 3,600 tocks), the Tockchain Network experiences 36 empty tocks due to node failures. The number of non-empty tocks is 3,564. The Tock Quality is calculated as 3,564 divided by 3,600, multiplied by 100, resulting in 99%. This indicates that 99% of tocks successfully contributed to consensus, with a 1% Failure Rate attributable to empty tocks.
An acronym for Transactions Per Second.
The average number of Transactions that can be included in a single Block on a Blockchain network, reflecting the block’s capacity to handle transaction volume under typical conditions.
This metric is calculated as the Block Size divided by the Smallest Transaction Size, rounded down to the nearest whole number to account for the maximum integer number of transactions that fit within a block’s data limit, based on the blockchain’s protocol specifications.
Example: If a Block has a Block Size of 1,000,000 bytes and the smallest transaction size is 250 bytes, the Transactions per Block is calculated as 1,000,000 divided by 250, which equals 4,000. This indicates that up to 4,000 transactions can be included in the block.
This metric is calculated as the Block Size divided by the Smallest Transaction Size, rounded down to the nearest whole number to account for the maximum integer number of transactions that fit within a block’s data limit, based on the blockchain’s protocol specifications.
Example: If a Block has a Block Size of 1,000,000 bytes and the smallest transaction size is 250 bytes, the Transactions per Block is calculated as 1,000,000 divided by 250, which equals 4,000. This indicates that up to 4,000 transactions can be included in the block.
The number of Transactions processed per second by a Blockchain under typical operational conditions.
This metric is calculated as the total number of transactions processed over a given time interval divided by the duration of that interval in seconds.
Example: For a network processing 1,800 transactions in 60 seconds, Transactions Per Second = 1,800 / 60 = 30 transactions per second.
This metric is calculated as the total number of transactions processed over a given time interval divided by the duration of that interval in seconds.
Example: For a network processing 1,800 transactions in 60 seconds, Transactions Per Second = 1,800 / 60 = 30 transactions per second.
The total adjusted value of assets locked in the Tockchain Ecosystem, including Liquidity Pools, Orderbook addresses, wallets, and Hashlock Transactions, measured in VUSD-equivalent holdings to determine Richlist Ranks and VNET rewards.
This metric is calculated by summing the adjusted value of all holdings: VUSD at $1, VNET at pool price if 1% of supply sold, and other assets at pool price if 10% of supply sold, with bids and orders contributing to liquidity even if unfilled.
If an address has a bid of $1,000,000 on VBTC at $1,000 (ensuring a spot in the 1,000 ID Richlist) and the adjusted value includes matching VUSD liquidity, the TVL contribution counts as $1,000,000, qualifying for VNET rewards if in the top 1000.
This metric is calculated by summing the adjusted value of all holdings: VUSD at $1, VNET at pool price if 1% of supply sold, and other assets at pool price if 10% of supply sold, with bids and orders contributing to liquidity even if unfilled.
If an address has a bid of $1,000,000 on VBTC at $1,000 (ensuring a spot in the 1,000 ID Richlist) and the adjusted value includes matching VUSD liquidity, the TVL contribution counts as $1,000,000, qualifying for VNET rewards if in the top 1000.
The total amount of time a Blockchain network is unavailable over a year, measured in days, indicating reliability issues and network performance gaps.
This metric is calculated as the product of 365 (the number of days in a year) and the Failure Rate (100% - Reliability %) divided by 100.
Example: For a Reliability of 95.25%, Yearly Downtime (in Days) = 365 × (100% - 95.25%) / 100 = 365 × 4.75 / 100 ≈ 17.34 days.
This metric is calculated as the product of 365 (the number of days in a year) and the Failure Rate (100% - Reliability %) divided by 100.
Example: For a Reliability of 95.25%, Yearly Downtime (in Days) = 365 × (100% - 95.25%) / 100 = 365 × 4.75 / 100 ≈ 17.34 days.
The total amount of time a Blockchain network is unavailable over a year, measured in hours, providing a finer granularity for reliability analysis.
This metric is calculated as the product of 8,760 (the number of hours in a year) and the Failure Rate (100% - Reliability %) divided by 100.
Example: For a Reliability of 95.25%, Yearly Downtime (in Hours) = 8,760 × (100% - 95.25%) / 100 = 8,760 × 4.75 / 100 ≈ 416.1 hours.
This metric is calculated as the product of 8,760 (the number of hours in a year) and the Failure Rate (100% - Reliability %) divided by 100.
Example: For a Reliability of 95.25%, Yearly Downtime (in Hours) = 8,760 × (100% - 95.25%) / 100 = 8,760 × 4.75 / 100 ≈ 416.1 hours.
Title
Glossary Term Definition
A Special Transaction Type in the Tockchain DLT that creates a new Asset, requiring a 1000 VUSD deposit as reserve and initial Liquidity Pool funding, with options for mintable or non-mintable Assets using single or Multi-Signature control, requiring a valid pubkeys array and optional multisig field for multi-signer configurations.
A Special Transaction Type in the Tockchain DLT that mints additional tokens for a mintable Asset, requiring the creator’s signature or Multi-Signature approval, adding to the Asset’s supply within the Tockchain DLT.
A Special Transaction Type in the Tockchain DLT that permanently removes a specified amount of an Asset, such as VUSD, from circulation by sending it to a null address, reducing the Asset’s total supply.
A Special Transaction Type in the Tockchain DLT that transfers a specified amount of an Asset from a hot address to a destination, sweeping all remaining funds, including up to 32 different tokens, to a new cold address for secure storage.
A Special Transaction Type in the Tockchain DLT that transfers an Asset, such as QUBIC, from the Tockchain DLT to another Blockchain, identified by a chain ID and external symbol, facilitating interoperability within the Tockchain Ecosystem.
An automated Special Transaction Type in the Tockchain DLT that creates an external Asset on another Blockchain, restricted to the coinbase address, specifying the asset’s name, symbol, and issuer.
An automated Special Transaction Type in the Tockchain DLT that establishes a new external Blockchain for interoperability, restricted to the coinbase address, specifying chain ID and external symbol.
A Special Transaction Type in the Tockchain DLT that implements a Crypto Hash Timelock Contract, locking funds to an address until a secret hash (using K12 or SHA256) is revealed or a locktime expires, enabling features like Atomic Swaps for Assets like QUBIC.
A Special Transaction Type in the Tockchain DLT that cancels a maker’s buy or sell order on the Orderbook, specified by the maker, Assets, and price.
A Special Transaction Type in the Tockchain DLT that allows a Maker to claim Tock Reward, such as VNET, earned by their order address on the Orderbook.
A Special Transaction Type in the Tockchain DLT that places a buy or sell order on the Orderbook, specifying the maker’s Assets, price in VUSD, and amount, enabling trading within the Tockchain DLT.
A Special Transaction Type in the Tockchain DLT that creates a Multi-Signature address, specifying the number of signers, minimum required signatures, and public keys, with an optional locktime, for secure Special Transaction Type execution.
A Special Transaction Type in the Tockchain DLT that spends funds from a Multi-Signature address, requiring signatures from the specified number of signers, appended sequentially, to transfer Assets like VUSD.
A System Transaction in the Tockchain DLT that adds a new Consensus Node to the Tockchain Network, specifying its IP address and identifier, to enhance network capacity.
A System Transaction in the Tockchain DLT that removes a Consensus Node from the Tockchain Network, restricted for networks with a multiple of three nodes to maintain quorum.
A System Transaction in the Tockchain DLT that replaces an existing Consensus Node with a new one in the Tockchain Network, specifying both nodes’ identifiers and the new node’s IP address.
A Special Transaction Type in the Tockchain DLT that retrieves a list of open orders placed by a Maker on the Orderbook for a specific Asset, aiding in trade tracking.
A Special Transaction Type in the Tockchain DLT that creates a hashed address for a specific Orderbook entry, defining the Maker, Assets, and price for Trading.
Valis’s implementation of a Crypto Orderbook in the Tockchain DLT for Assets Trading, using a Maker/Taker model, where makers place buy or sell orders at specified prices in VUSD and takers accept them, supported by Hashed Address and Tock Rewards.
A Special Transaction Type in the Tockchain DLT that adds one or both Assets to a Liquidity Pool, specifying the source, destination pool, and amount, supporting one-sided or two-sided deposits, with validation to prevent same-asset two-sided deposits, to enhance pool liquidity.
A Special Transaction Type in the Tockchain DLT that exchanges one Asset for another within a Liquidity Pool, specifying the source and destination Assets and amount, with an optional minimum amount for the swap.
A Special Transaction Type in the Tockchain DLT that removes Assets from a Liquidity Pool, allowing withdrawal of a single Asset or both in equal proportion, including any earned Tock Reward like VNET.
A Standard Transaction in the Tockchain DLT that transfers a specified amount of an Asset, such as VUSD or QUBIC, from a sender to a recipient address, identified by a Tockid for tracking in the Tockchain Ledger.
A Transaction in the Tockchain DLT with advanced functionality, such as Multi-Signature Spend Transaction, Poolswap Transaction, or Hashlock Transaction, enabling complex operations like trading or secure transfers in the Tockchain DLT.
A Transaction in the Tockchain DLT that performs basic Asset transfers, such as Send Transaction or Burn Transaction, moving Assets like VUSD between addresses in the Tockchain Ledger.
A Transaction in the Tockchain DLT that manages network operations, such as Node Addition Transaction or Update Cancellation Transaction, configuring the Tockchain Network to ensure stability and synchronization.
A Special Transaction Type in the Tockchain DLT that accepts an existing Maker order on the Orderbook, specifying the Taker, Assets, price, and amount to complete the trade.
Valis’s implementation of a Crypto Transaction in the Tockchain DLT that modifies the Tockchain Ledger, identified by a TXID. The Tockchain DLT supports three transaction types: Standard Transaction, Special Transaction Type, and System Transaction.
A System Transaction in the Tockchain DLT that cancels a pending network configuration change, such as node addition or removal, to prevent unintended disruptions in the Tockchain Network.
Title
Glossary Term Definition
The native token of the Qubic network, bridged as an Asset to the Tockchain DLT for seamless use in Transactions like Send Transaction, Poolswap Transaction, or Crosschain Transaction within the Tockchain DLT.
The upcoming equity token issued by Valis, representing a share in Valis's equity and providing holders with governance rights, revenue share from Valis Stablecoins Net Profit, and participation in the Valis Ecosystem's decision-making. VALIS will have a variable supply starting at an initial 100 billion units, with no maximum limit, determined by the outcome of funding rounds.
The native, non-governance token of the Tockchain Ecosystem. VNET is minted and distributed every Tock as Network Rewards to incentivize network contributions like liquidity provision, node operation, and ecosystem oversight from Tockchain Stakeholder. VNET holders receive a monthly share of Valis Stablecoins Gross Revenue through VUSD Payout to the VNET Liquidity Pool.
A token planned by Valis to reward collaborators contributing to the Valis Ecosystem’s development, initially issued as a non-valued recognition of contributions. Upon the Tockchain DLT mainnet launch, VPOINT Token holders can swap their tokens for VNET at a predetermined rate, funded by Valis’s 10% share of the Tock Reward.
A revenue-sharing token issued by Valis for the Valis Stablecoin line of business, granting holders a right to a share of the Valis Stablecoins Net Profit generated by Valis Stablecoins, with a total supply of 100 billion units, tradable on Qubic’s Qx Decentralized Exchange, and currently at version VSTB001.
A Stablecoin issued by Valis, pegged to the US dollar, designed for use within the Tockchain Ecosystem as a stable medium of exchange for DeFi and other applications.
Title
Glossary Term Definition
A dynamic pricing strategy in Seed Round D of the Valis Stablecoins Seed Fundraiser where investors bid for VSTABLE Tokens starting at a base price, allowing market-driven pricing within a capped total value.
A Valis Stablecoin such as VUSD, pegged to a fiat currency like the US dollar, backed by reserves to maintain stability, used for transactions in the Tockchain Ecosystem and generating revenue for VSTABLE Token holders.
A pricing strategy in the Valis Stablecoins Seed Fundraiser (Seed Round A, Seed Round B, Seed Round C) where VSTABLE Tokens are sold at a predetermined price per token, enabling predictable investment costs for participants.
The first round of the Valis Stablecoins Seed Fundraiser, using a Fixed-Price Mechanism at $0.0001 per VSTABLE Token, uncapped, with a minimum investment of $100,000, exclusive to the first investor, concluded on December 1, 2024.
The second round of the Valis Stablecoins Seed Fundraiser, using a Fixed-Price Mechanism at $0.00012 per VSTABLE Token, uncapped, with a minimum investment of $100,000, invite-only for pre-selected investors, ran from December 2 to December 8, 2024.
The third round of the Valis Stablecoins Seed Fundraiser, using a Fixed-Price Mechanism at $0.00013 per VSTABLE Token, open to pre-approved investors with a minimum investment of $100,000, ran from December 9 to December 15, 2024.
The final round of the Valis Stablecoins Seed Fundraiser, using a Blind Auction starting at $0.00014 per VSTABLE Token, capped at $100,000 in total value, with a minimum investment of $10,000, open to pre-approved investors, ran from December 16 to December 22, 2024.
The mechanism by which Valis Stablecoins Net Profit from Valis Stablecoin operations is distributed through the Valis Stablecoins Revenue Share Agreement to VSTABLE Token holders, based on their token share of the 100 billion total supply, managed through periodic Token Version updates.
A Stablecoin issued by Valis, such as VUSD, pegged to a stable asset like the US dollar, designed for use in the Tockchain Ecosystem for DeFi, payments, and Trading, generating Valis Stablecoins Net Profit for VSTABLE Token holders.
The total revenue generated by Valis Stablecoins before any deductions, including Network Rewards or operating expenses.
Valis Stablecoins Net Revenue minus all operating expenses, taxes, and other costs, representing the final profit available for distribution to VSTABLE holders.
Gross revenue minus network rewards, which are a variable percentage of Valis Stablecoins Gross Revenue determined by Valis and available for distribution to VNET holders.
The contractual framework governing the distribution of Valis Stablecoins Net Profit from Valis Stablecoin operations to VSTABLE Token holders, managed through Token Versions and subject to terms like Token Conversion, ensuring revenue sharing based on token ownership.
A series of funding rounds (Seed Round A, Seed Round B, Seed Round C, Seed Round D) to support the development of Valis Stablecoin, raising capital through the sale of VSTABLE Tokens, which grant a share of Valis Stablecoins Net Profit, concluded on December 22, 2024.
Title
Glossary Term Definition
Comprehensive access to sensitive information on partnerships, financials, projections, and salaries, available only to Key Investors holding VSTABLE Tokens. In the case of a Collective Investor, confidential information is shared exclusively with its designated representative.
An Investor that operates as a group or a legal entity representing multiple individuals or entities pooling resources to invest jointly. Examples of collective investors include Investment Syndicates, DAOs, and trusts.
When a collective investor qualifies as a Key Investor, only its designated representative is recognized as the Key Investor for official communication and reporting purposes.
When a collective investor qualifies as a Key Investor, only its designated representative is recognized as the Key Investor for official communication and reporting purposes.
An Investor who acts as an individual rather than as part of an organization or institution.
An entity that holds VSTABLE or VALIS Tokens.
Investors are classified based on three key criteria:
1. Entity composition: Individual Investor vs. Collective Investor.
2. Access to the Valis team: Approved Profile vs. Declined Profile.
3. Holdings size: Standard Investor vs. Key Investor.
Only Direct Investors can become Key Investors and reporting access is based on holdings size: Standard Investors receive Standard Reporting, while Key investors receive Advanced Reporting.
Investors are classified based on three key criteria:
1. Entity composition: Individual Investor vs. Collective Investor.
2. Access to the Valis team: Approved Profile vs. Declined Profile.
3. Holdings size: Standard Investor vs. Key Investor.
Only Direct Investors can become Key Investors and reporting access is based on holdings size: Standard Investors receive Standard Reporting, while Key investors receive Advanced Reporting.
The top 10 Approved Profiles contributing $100,000 or more across all rounds.
Key Investors receive Advanced Reporting.
Key Investors receive Advanced Reporting.
An actual or potential Investor under evaluation by Valis to determine alignment with its vision and strategy. Pending Profiles do not yet have direct access to the Valis team or the Valis treasury. After review, a Pending Profile may become an Approved Profile or a Declined Profile.
Buying or trading tokens for profit based on short-term price movements, prohibited for VSTABLE Tokens, though selling for non-speculative reasons (e.g., financial need, KYC non-compliance) is allowed.
An Investor who does not have Key Investor status.
Standard Investors receive Standard Reporting.
Standard Investors receive Standard Reporting.
Periodic updates with key metrics, excluding confidential information, available to Approved Profiles, Declined Profiles, and the public regarding Valis and VSTABLE Token performance.
A potential forced swap of VSTABLE Tokens into Valis equity if the VSTABLE open market supply falls below 10%, calculated as Market Value of Remaining VSTABLE Tokens / Valis Market Valuation, adjusted by the revenue share of the Valis Stablecoins line of business, with revenue sharing ceasing upon execution.
The distribution of VSTABLE Tokens through sequential funding rounds, intended as a revenue-sharing mechanism tied to Valis Stablecoin success, prohibiting Speculation but allowing sales for non-speculative reasons like financial need or KYC non-compliance.
The total revenue generated from Valis Stablecoins operations after deducting operating costs (salaries, infrastructure, compliance, marketing), platform fees, regulatory compliance, taxes, interest, depreciation, and both explicit (e.g., processing fees) and implicit (e.g., volatility, slippage) transaction costs, serving as the basis for distributions to VSTABLE Token holders.
The dual-level reporting system for VSTABLE Token investors, offering Standard Reporting to all and Advanced Reporting to Key Investors, ensuring transparency for Valis Stablecoins while protecting confidential data.
Title
Glossary Term Definition
A deduction from gross revenue (e.g., returns, discounts, allowances) that reduces reported net revenue, typically recorded as a debit account offsetting the related revenue account.
The total revenue generated by Valis Stablecoins before any deductions, including Network Rewards or operating expenses.
Valis Stablecoins Net Revenue minus all operating expenses, taxes, and other costs, representing the final profit available for distribution to VSTABLE holders.
Gross revenue minus network rewards, which are a variable percentage of Valis Stablecoins Gross Revenue determined by Valis and available for distribution to VNET holders.
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