❓FAQ's

What is the primary purpose of the veORBK token in the protocol ?

The veORBK token serves as the backbone for governance and operational activities within our protocol. It allows holders to participate in crucial decision-making processes, such as voting on proposals and delegating voting power to nodes.

How does the staking mechanism work for veORBK tokens?

Users can stake their veORBK tokens for predetermined periods (3, 6, 12, or 24 months). Staking helps secure the network and qualifies stakers for rewards based on the duration of their stake. During the staking period, users cannot unstake their tokens.

How are price oracles integrated into the protocol?

Our decentralized oracle system aggregates and validates price data from multiple sources. Nodes submit this data, and a mathematical model determines the most accurate submissions, rewarding nodes accordingly. This data influences loan valuations and operations within the protocol.

What is the Delegation Portal and how does it function?

The Delegation Portal allows nodes, attestors, and validators to create listings where they lock a specified amount of USDC as a bribe in exchange for voting power. Staked users can then accept these offers, unlocking the USDC and transferring their voting power to the node for the bribe duration.

What happens during the term of a delegation bribe?

During the term of a delegation bribe, the user’s veORBK tokens remain staked and cannot be unstaked. The user’s voting power is transferred to the node for the duration specified in the delegation contract. This maintains the stability and predictability of voting power within the governance process.

How does the bribery mechanism ensure fairness in delegated voting?

The bribery mechanism is integrated into the delegation process. Nodes offer USDC as a bribe, which is locked until a user accepts the delegation offer. This ensures that the bribe is only transferred upon successful delegation, providing a secure and fair exchange.

What is the function of the ordibank network ?

The ordibank network acts as a hub within our protocol, recording transactions and managing cross-chain interactions. It ensures the accurate reflection of actions taken on one blockchain (e.g., Bitcoin) on another (e.g., Ethereum).

Can you explain the role of Discreet Log Contracts (DLCs) in the protocol?

DLCs are used to lock Bitcoin satoshis or ordinals as collateral for loans. These contracts execute based on conditions provided by oracles. For example, if the price of Bitcoin drops below a certain threshold, the DLC may trigger a liquidation process to protect the loan.

How does the penalty mechanism for attestors work?

Attestors are required to stake a significant amount of ORBK tokens. If found acting dishonestly, a portion of their staked tokens will be slashed. Slashed tokens are redistributed to affected users or added to the reward pool for honest attestors, deterring misconduct.

What measures are in place to ensure the security of the protocol?

The protocol employs multiple security measures, including multi-signature wallets, regular security audits, and best practices in smart contract development. These measures protect user assets and ensure the integrity of transactions.