📖Lexicon

Some words are quite common in the Blockchain and/or in the Interchain ecosystem. In our specific context, we will refer to these definitions when using the following terms :

Pool: Community governed configuration for a single IBC token (ex: ATOM). Contains the draw configuration (initial draw, draw frequency...), the prizes configuration (prizes' sizes, number of prizes, draw chances...) alongside other technical parameters. N.B: Nothing prevents the creation of multiple Pools using the same IBC token.

Local Pool: A Pool based on a token for which the native blockchain is the Lum Network. No IBC nor ICA operation is needed to make these Pools work (e.g: Lum Pool).

Prize Pool: The total amount of assets available in a Pool before a Draw takes place. It usually includes fresh staking rewards alongside remains (undistributed prizes and clawed back prizes) from the previous Draws.

Draw: A random draw of prizes for a specific Pool. A successful Draw usually generates Prizes which must be claimed by the Winners (they otherwise get clawed back) alongside remains which are compounded in the Prize Pool for subsequent Draws.

Deposit: Tokens locked into a Pool and delegated by the Pool via ICA. Those tokens are used to generate yield and therefore Prizes, they are also the basis to compute each Depositor's chance to win a Prize at Draw time.

Depositor: A wallet address with at least one Deposit into a Pool.

Deposit drop: A Deposit Drop is a deposit for which the winner address is not equal to the depositor address. Meaning that the depositor in this case transfers chances to be selected during Prizes Draws to a chosen wallet address.

Sponsor: A depositor specifying waving their right to win any prize at all from Draws. Usually used by specific communities' programs and project teams to increase their favourite Pool APY.

Withdrawal: Depositors can withdraw their Deposits at any time. This action usually takes between 14 and 28 days since the deposited assets must be unstaked from their native chain before being sent back.

Prize: A prize emitted by a Pool Draw. A Prize contains a fraction of the Prize Pool available at the time of the Draw. A Prize must be claimed in order for its amount to be sent to its Winner, otherwise it gets clawed back by the protocol.

Winner: The wallet address of a Depositor who won a Prize.

Prize Claim: The action to claim a Prize by a Winner via a blockchain transaction.

Prize Clawback: A prize gets clawed back (expires) by the Millions protocol upon reaching an expiration threshold (30 days, up to governance based changes). Clawed back prizes become part of the Prize Pool for subsequent Draws.

Delegation/Staking: The usual term to refer to staking (delegating) assets on Cosmos based blockchains.

Protocol fees: The total percentage of fees consumed by the protocol upon creating a Prize (up to governance based changes). There can be various kinds of fees, the main one being the Stakers fees, sent to Lum Stakers proportionally to their Lum staked on the Lum Network. N.B: Fees are only deduced from distributed Prizes and do not apply to remains from Draws.