> For the complete documentation index, see [llms.txt](https://ovro.gitbook.io/ovro-docs/llms.txt). Markdown versions of documentation pages are available by appending `.md` to page URLs; this page is available as [Markdown](https://ovro.gitbook.io/ovro-docs/resources/glossary.md).

# Glossary

Short definitions of the terms used across OVRO.

| Term                   | Meaning                                                                                                                      |
| ---------------------- | ---------------------------------------------------------------------------------------------------------------------------- |
| **Round**              | One raffle: a pool of tickets, one winner. Only one round is live at a time.                                                 |
| **Config**             | The rules of a round: ticket price, number of tickets, timer, minimum players, fee split, eligibility. Immutable once added. |
| **Genesis**            | The phase before $OVRO exists. Rounds are open to every wallet.                                                              |
| **Token activation**   | The one-time switch that makes $OVRO holding required from the next round and enables the buyback.                           |
| **Tier**               | A per-wallet ticket limit tied to a minimum $OVRO balance.                                                                   |
| **Chance now**         | Your tickets ÷ tickets sold so far.                                                                                          |
| **Chance at sell-out** | Your tickets ÷ all tickets of the round.                                                                                     |
| **Escrow**             | Ticket ETH held by the raffle contract until the round settles or is cancelled.                                              |
| **Credited prize**     | A prize the contract could not push to the winner; withdrawable at any time.                                                 |
| **Buyback reserve**    | The buyback share collected during Genesis, waiting for $OVRO.                                                               |
| **Buyback executor**   | The separate contract that buys $OVRO with ETH and burns it.                                                                 |
| **Burn address**       | `0x000000000000000000000000000000000000dEaD`. Tokens sent there are out of circulation for good.                             |
| **drand**              | A public randomness network run by the League of Entropy. OVRO uses its `evmnet` beacon.                                     |
| **Beacon round**       | One drand output, published every 3 seconds, identified by a round number.                                                   |
| **BLS signature**      | The cryptographic signature that makes each beacon unique and verifiable on-chain.                                           |
| **Keeper**             | OVRO's automation wallet. It calls public functions and runs buybacks within limits.                                         |
| **Safe**               | The 2-of-3 multisig that controls the protocol and receives the treasury share.                                              |
| **Timelock**           | The contract that delays every admin change by at least 48 hours.                                                            |
| **Guardian**           | The pause power held by the Safe. It can stop ticket sales, never draws or refunds.                                          |
| **Pons V2**            | The Robinhood Chain launchpad where $OVRO launches, with a bonding curve that graduates to Uniswap v4.                       |


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