Glossary
Aggregator
A service that connects to multiple liquidity sources (DEXs, bridges, LPs) and finds the best execution path for a trade. 7.Exchange is a cross-chain DEX aggregator.
AMM (Automated Market Maker)
A type of DEX that uses liquidity pools and a mathematical formula to price assets, rather than an order book. Users trade against the pool rather than against other traders.
Bridge
A protocol that transfers assets between different blockchain networks. Bridges enable cross-chain swaps by handling the message passing and asset settlement between chains.
Cross-chain swap
A trade where the source token is on one blockchain and the destination token is on a different blockchain. The swap may involve bridging, on-chain swaps, or both.
DEX (Decentralized Exchange)
An exchange that operates on-chain without a central authority. Users trade directly from their wallets through smart contracts.
Diamond Router
7.Exchange's planned smart contract architecture for on-chain route execution. Based on the EIP-2535 diamond standard, allowing modular and upgradeable contract logic. Currently in pre-deployment bug bounty stage.
EVM (Ethereum Virtual Machine)
The runtime environment for smart contracts on Ethereum and compatible chains (Polygon, Arbitrum, BNB Chain, etc.). EVM chains share a common standard for wallets, tokens, and smart contracts.
Execution payload
The transaction data generated by 7.Exchange after you select a route. This payload contains all instructions needed to execute the swap. It's sent to your wallet for signing.
Finality
The point at which a blockchain transaction is considered irreversible. Different chains have different finality times from seconds (some L2s) to minutes (Ethereum, Bitcoin). Cross-chain swap duration depends on finality requirements of both chains.
Gas
The fee paid to blockchain validators to process your transaction. Gas costs vary by chain and network congestion. Gas fees go to the network, not to 7.Exchange.
Liquidity
The available depth of tradeable assets in a pool or across pools. Higher liquidity means less slippage on trades. Low liquidity means larger trades may move the price significantly.
LP (Liquidity Provider)
A user or entity that deposits assets into a liquidity pool on a DEX. LPs earn fees from trades that route through their pool.
MEV (Maximal Extractable Value)
Profit that can be extracted by reordering, inserting, or censoring transactions within a block. Common MEV attacks on swaps include sandwich attacks, where an attacker front-runs and back-runs your trade to profit from the price impact.
Net output
The final amount you receive in your destination wallet after all fees (gas, bridge, DEX, routing) are deducted. This is the number 7.Exchange optimizes for when ranking routes.
Non-custodial
A design where the platform never holds or controls user funds. On 7.Exchange, assets remain in your wallet until you sign a transaction. The platform cannot move your funds without your explicit approval.
Quote
An estimated swap result from a provider, showing expected output, fees, and execution time. Quotes on 7.Exchange are time-bound, single-use, and ranked by net output.
Route
The full path a swap takes from source to destination. A route may involve one or more steps: on-chain swaps, bridge transfers, or intermediate token conversions.
SIWE (Sign-In with Ethereum)
An authentication standard where you prove wallet ownership by signing a message (not a transaction). Used by 7.Exchange for profile sign-in. Does not grant on-chain permissions.
Slippage
The difference between the expected price of a swap and the actual execution price. Caused by price movement, low liquidity, or network delays between quote time and execution.
Slippage tolerance
A user-defined maximum acceptable slippage. If the actual output falls below this threshold, the transaction reverts and funds are returned.
WalletConnect
An open protocol that enables wallet connections between dApps and mobile/desktop wallets via QR code or deep link. Supported by most EVM wallets.