Plain definitions
zAVA glossary
Every term used on the site and in the whitepaper, in one or two sentences each.
- AVAX
- The native token of Avalanche and the gas token of the C chain. zAVA is mined by committing it.
- Allocation
- The amount of zAVA a cycle offers. Cycle 1 offers 10,500,000, and each cycle after offers half of the one before.
- Auto mode
- An opt in setting for positions of 0.1 AVAX or more. Once a position is 24 hours old anyone may roll it for its owner, through the cycle the owner chose, with no fee.
- Buyback and burn
- The 2 percent share of every commit. It buys zAVA from the pair only while the market is below the true cost and sends it to the dead address.
- Burned LP
- Liquidity pool tokens sent to the dead address. The liquidity they represent can never be withdrawn by anyone.
- Claim
- Collecting a matured position: 90 percent of the committed AVAX comes back together with the zAVA it earned.
- Commit
- Sending AVAX to the Mine. The zAVA reward is minted at that moment's rate and held for 24 hours.
- Cycle
- One of the 32 stages of zAVA supply. A cycle ends when its allocation is mined out, and the next one opens at double the rate.
- Dead address
- 0x000000000000000000000000000000000000dEaD. Tokens sent there are gone for good. Burned zAVA and burned LP both sit there.
- Halving
- The move from one cycle to the next. The zAVA on offer halves and the mining rate doubles, like Bitcoin's block reward halving.
- Holder dividends
- The 3 percent share of every commit, paid in AVAX to zAVA held in ordinary wallets in proportion to balance.
- Hopper
- The public queue of auto mode positions that are past 24 hours. Anyone may roll up to 50 of them in one call.
- Impact gate
- The 15 percent price impact limit on each buyback and deepening call, which stops anyone from walking the price in steps.
- Liquidity deepening
- The 4 percent share of every commit. It buys zAVA with half, adds both halves to the pair and burns the LP.
- Mining rate
- The headline AVAX per zAVA for the current cycle. It starts at 0.002 and doubles every cycle.
- Note
- A private balance inside the Shield. Only the holder of the note can spend it.
- Position
- One commit and its 24 hour clock. Each position is claimed on its own schedule.
- Rollover
- Claiming a matured position and committing its 90 percent again in one step, used by auto mode.
- Shield
- The zAVA private pool. Deposit, send and withdraw without the chain linking sender and receiver.
- Solvency
- A public check that the AVAX the protocol holds covers every amount it owes: miner principal, the liquidity and buyback queues, dividends and operations.
- True cost
- What a miner really pays per zAVA once 90 percent of the AVAX comes back: a tenth of the mining rate.
Questions? See the FAQ, the whitepaper or the live halving tracker.