Glossary

In-Progress

AMM

Automated market makers

DEX

Decentralized exchange

LST

Liquid Staking Token - Liquid Staking

Non-vote Transactions

Non-vote transactions encompass all other types of transactions that are not related to the consensus process. These include:

• DeFi Transactions: Interactions with decentralized finance protocols, such as swapping tokens, providing liquidity, borrowing, or lending.

• Token Swaps: Direct exchanges of one token for another without the need for traditional order books, often facilitated by automated market makers (AMMs).

• Smart Contract Executions: Interactions with smart contracts for various applications beyond DeFi, such as games, NFT marketplaces, and decentralized autonomous organizations (DAOs).

Vote Transactions

Vote transactions on Solana are related to consensus and validator operations. They are part of the Proof of History (PoH) and Proof of Stake (PoS) mechanisms that Solana uses to secure the network. Validators execute vote transactions to agree on the state of the blockchain and to participate in the consensus process. These transactions are integral to the functioning of the blockchain but are not directly initiated by typical user activities like token transfers or smart contract interactions.