Syrax Glossary

Key Terms Explained

Blockchain

A distributed, append-only ledger shared across many computers, where transactions are grouped into cryptographically linked blocks. Once recorded, entries cannot be altered retroactively, giving the network a tamper-evident, verifiable history without a central authority.

Custodial

A model in which a service provider holds and controls user funds on the user's behalf. The Syrax payment gateway is custodial: Syrax safeguards balances internally so institutions can transact without managing cryptographic keys themselves.

Non-Custodial

A model in which users retain sole control of their funds through their own private keys, and the provider never holds those keys. The Syrax blockchain layer and wallet are non-custodial — Syrax never touches a user's private keys or seed phrase.

Zero-Knowledge Proof ZK

A cryptographic method that lets one party prove a statement is true without revealing the underlying data. Zero-knowledge proofs underpin Syrax's infrastructure, enabling privacy-preserving yet verifiable transactions.

ZK Rollup

A Layer-2 scaling technique that bundles many transactions off-chain and posts a single zero-knowledge validity proof to the base chain. This delivers high throughput and low fees while inheriting the security of the underlying Layer-1.

Layer 2 L2

A network built on top of a base blockchain (Layer 1) to increase speed and reduce cost while relying on the Layer 1 for final settlement and security. The Syrax chain is a zero-knowledge Layer-2 network.

Real-World Asset Tokenisation RWA

The process of issuing a blockchain-based token that represents ownership or a claim on a tangible or traditional financial asset — such as treasury bills, funds, or property — with compliance controls enforced on-chain.

SRX Token SRX

The governance and utility token of the Syrax ecosystem, with a fixed maximum supply of 10 billion. SRX is used for protocol governance, network utility, and ecosystem incentives. It is currently live on testnet.

Payment Gateway

Infrastructure that lets merchants and institutions accept, process, and settle payments. The Syrax payment gateway is an enterprise-grade, compliance-first gateway for digital-asset payments and is operational today.

KYC / AML

Know Your Customer (KYC) and Anti-Money-Laundering (AML) are regulatory processes for verifying identity and preventing illicit finance. Syrax embeds KYC and AML controls throughout its onboarding and payment infrastructure.

VARA

The Virtual Assets Regulatory Authority of Dubai — the regulator overseeing virtual-asset activity in the emirate. Syrax is headquartered in Dubai and aligns its product rollout with VARA's framework.

Smart Contract

Self-executing code deployed on a blockchain that automatically enforces the terms of an agreement when predefined conditions are met, removing the need for intermediaries.

Multi-Party Computation MPC

A cryptographic technique that splits a private key into shares held by multiple parties, so no single party ever holds the full key. MPC is part of the Syrax wallet's hybrid security model.

Account Abstraction ERC-4337

An Ethereum standard that lets wallets behave like programmable smart-contract accounts — enabling features such as gas sponsorship, social recovery, and batched transactions. It is part of the Syrax wallet design.

Stablecoin

A digital asset designed to hold a stable value, typically pegged to a fiat currency such as the US dollar. Stablecoins are commonly used for settlement and cross-border payments.

Governance / DAO DAO

A Decentralised Autonomous Organisation governs a protocol through token-holder voting rather than central control. Syrax governance requires 1,000,000 SRX to propose, a 4% quorum, a 7-day vote, and a 48-hour timelock.

Quorum

The minimum share of voting power that must participate for a governance vote to be valid. Syrax governance uses a 4% quorum of total SRX supply.

Timelock

A mandatory delay between a governance decision passing and its execution, giving the community time to react. Syrax governance enforces a 48-hour timelock.

Gas Fee

The fee paid to a blockchain network to process and validate a transaction. On the Syrax chain, gas is paid in the native token, SRX.

Testnet / Mainnet

A testnet is a trial network for testing with no real-world value; a mainnet is the live production network. The Syrax chain and SRX token are currently live on testnet, with mainnet to follow an external security audit.

Token Generation Event TGE

The point at which a token is created and distributed to participants on the live network. The SRX TGE follows the completion of the project's external security audit.

Whitelisting

A compliance control that restricts which addresses may hold or transfer an asset. Tokenised real-world assets on Syrax use whitelisting and permissioned transfers so only eligible participants can transact.