Glossary

Use this glossary page to learn about terms used in MilkyWay and its ecosystem.

AVSs

AVSs are shortened for Actively Validated Services. An AVS can be any type of off-chain services or applications that use MilkyWay’s restaking operators to execute specific off-chain tasks. Examples include oracles, rollup sequencers, data availability layer, co-processors, bridging protocol.

Block

A data unit containing a list of transactions, which is permanently added to the blockchain in a sequential manner.

Blockchain

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

Burn​

The permanent destruction of coins from the total supply.

Cosmos SDK

It is the open-source framework the MilkyWay blockchain is built with. It allows developers build multi-asset public Proof-of-Stake (PoS) or Proof-of-Authority (PoA) blockchains. For more information, check out the Cosmos SDK Documentation.

Community Pool

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

Cryptoeconomic Security

Cryptoeconomic security is a measure of how trustworthy the results of a given service is derived from the combination of cryptographic and economic incentives. In the context of restaking, this is generally defined as whether the Cost of Corruption(CoC) is lower than the Profit from Corruption(PfC). In services that are based on being crypto economically secure, as long as the CoC exceeds the PfC, the service is considered to be crypto economically secure.

Governance

The system by which decisions are made within the MilkyWay blockchain. Governance involves proposals, voting, and the implementation of changes using MILK tokens for participation.

IBC

Inter-Blockchain Communication protocol that handles transport of data between Cosmos blockchains.

Initia

Initia is a network for interwoven rollups by binding a highly interwoven system of modular networks through architectural ownership of the L1 orchestration layer, L2 network, and the communication protocol. MilkyWay's liquid staking for INIT is built as a Minitia. For more information, please refer to this page.

Liquid Staking

Liquid staking is a mechanism that allows delegations in Proof-of-Stake (PoS) blockchains to become liquid. As a staker, you don't need to wait for a withdrawal period to get your tokens back into your wallet. It empowers you to maintain your staked position while simultaneously allowing you to maximize your returns for your capital.

Restaking

Restaking is a concept of extending the functionality of traditional staking, allowing users to stake the same tokens on the main blockchain and other protocols, securing multiple networks at once.

LSD

Liquid Staking Derivative, representing staked assets in a freely tradable form (e.g., milkTIA). It is also known as LST (Liquid Staking Token).

Mainnet

The primary network where real transactions occur on the Berachain blockchain, as opposed to test networks used for development.

Minitia

Minitias are Layer 2 application chains within the Initia ecosystem, characterised as fully functional CosmosSDK blockchains that use optimistic rollups for settlement. These chains are distinguished by their rapid block times of 500ms and capacity to handle over 10k tps, positioning them as high-performance platforms for a wide array of applications. Our liquid staking protocol for the INIT token resides on our purpose-built Minitia.

MILK Token

$MILKis the native gas token of the MilkyWay ecosystem. It is used for staking to secure the network, and for paying transaction fees.

Modular Staking Portal

Given that the term modular is thrown around in this space vaguely without being properly defined a definition is required. Modular in this context means that a protocol's components are made up of literal modules. In the context of MilkyWay's restaking protoco, AVSs on the restaking layer has the freedom to choose what to use. It has extensibility by also providing the option for AVS developers to build their own custom modules that cater to their own needs.

Operators

Operators are the actors that run MilkyWay's services to provide compute power for the AVSs they decide to validate for and execute their off-chain tasks. Assets are delegated to the operators either by themselves, restakers or the AVS to ensure the economic security of the AVS network. In exchange for being the entity that provides compute power, they typically take a commission from all yield generated from their provided compute.

Validators

Validators are responsible for verifying transactions on the MilkyWay blockchain. They run programs called full nodes that allow them to participate in consensus, verify blocks, participate in governance, and receive rewards.

Staking

The process of locking up tokens to support the operations of a blockchain network. In MilkyWay chain, staking is used to secure the network and participate in governance.

Slashing

Penalties for misbehaving operators or validators.

Testnet

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