Gnosis Pay Glossary of Terms

Welcome to the Gnosis Pay Glossary. This page defines key terms you'll encounter while using our service and learning about Web3. The terms are grouped by category to help you find what you need quickly.

Core Crypto & Web3 Concepts

• Blockchain: A distributed, immutable digital ledger that records transactions across many computers. It's the underlying technology for cryptocurrencies and Web3 applications.
• CEX (Centralized Exchange): A traditional cryptocurrency exchange managed by a company that holds custody of user funds. Examples: Binance, Coinbase.
• DApp (Decentralized Application): An application that runs on a decentralized blockchain network rather than a centralized server.
• Decentralization: The principle of distributing power and control away from a central authority. In crypto, it means no single entity controls the network or your funds.
• DeFi (Decentralized Finance): A financial ecosystem built on blockchain technology that offers services like lending and trading through smart contracts, removing traditional intermediaries like banks.
• DEX (Decentralized Exchange): A peer-to-peer cryptocurrency exchange where users trade directly with each other without a central company holding their funds. Examples: Uniswap, SushiSwap.
• EOA (Externally Owned Account): Your standard cryptocurrency wallet (e.g., MetaMask, Rabby), controlled directly by a private key. It's used to sign transactions and control other accounts, like a Safe.
• EVM (Ethereum Virtual Machine): The runtime environment for smart contracts on Ethereum and compatible networks like Gnosis Chain. A wallet is "EVM-compatible" if it can interact with these networks.
• NFT (Non-Fungible Token): A unique digital asset on a blockchain representing ownership of a specific item, such as art, music, or collectibles.
• SIWE (Sign In With Ethereum): A standard for blockchain-based authentication that allows for logging into website and applications using an Ethereum wallet, replacing tranditional username and password.
• Smart Contract: A self-executing agreement with its rules written directly into code, which is then deployed and enforced by a blockchain.
• Smart Contract Wallet: A wallet controlled by a smart contract, enabling advanced features like multi-signature security and programmable rules (e.g., Safe). It is typically controlled by an EOA.
• Token: A unit of value on a blockchain representing a specific asset or utility. Examples include stablecoins, utility tokens, and governance tokens.

Gnosis Ecosystem & Card-Specific Terms

• Delay Module: A security feature for a Safe Wallet that adds a configurable time delay (e.g., 3 minutes) to outgoing transactions, providing a buffer to prevent unauthorized transfers.
• EURe (Monerium EURe): A regulated, euro-pegged stablecoin issued by Monerium. 1 EURe is designed to always equal 1 EUR, making it ideal for spending.
• GBPe (Monerium GBPe): A regulated, Great British Pound-pegged stablecoin from Monerium. 1 GBPe is designed to always equal 1 GBP.
• Gnosis Chain: A fast, low-cost, and secure Ethereum-compatible blockchain that Gnosis Pay is built on. Formerly known as xDai Chain.
• Roles Module: A security feature for a Safe Wallet that defines specific spending permissions, such as which tokens can be spent, daily spending limits, and the approved recipient for card transactions.
• SAFE (Safe Wallet): The leading multi-signature smart contract wallet, known for its advanced security. Gnosis Pay uses Safe technology to provide self-custody to users.
• USDCe (USD Coin): A widely-used, USD-pegged stablecoin. On Gnosis Chain, this is often represented as USDC.e (a bridged version). 1 USDC is designed to always equal 1 USD.

• OG NFT: A digital collectible awarded to early Gnosis Pay users. Holding this NFT can grant benefits, such as additional cashback bonuses.

• Card Freeze: A temporary block you can apply to your Gnosis Pay card to prevent spending. It is reversible at any time from the app.

• Card Report: A permanent action taken when a card is lost or stolen. It deactivates the card and requires ordering a new one.

• Snapshot Period: A weekly window (Sunday to Saturday UTC) during which your GNO balance and spending activity are tracked for cashback eligibility.

• GNO Multiplier: The rate at which cashback is calculated based on the lowest amount of GNO held in your Safe during a snapshot period.

Wallet & Blockchain Mechanics

• Gas Fee: A transaction fee paid to network validators to compensate them for the computational energy required to process and confirm your transaction on the blockchain.
• On-chain: Any transaction or data that is permanently and publicly recorded on a blockchain's ledger.
• Private Key: The secret, alphanumeric code that proves ownership and grants full control over the funds in a cryptocurrency wallet. It should never be shared.
• Public Key: A cryptographic code derived from your private key, used to generate your public wallet address.
• Wallet Address: A unique identifier (a string of letters and numbers) used to send and receive digital assets on the blockchain. It is safe to share this publicly.

• xDai: The native gas token of the Gnosis Chain. It is used to pay transaction fees when sending or swapping crypto assets.

• Bridging: The process of transferring tokens from one blockchain to another using a third-party bridge service. Example: Bridging USDC from Ethereum to Gnosis Chain creates USDCe.

• Faucet: A free tool that distributes small amounts of gas tokens (like xDai) to help users perform their first on-chain transactions.

• View-Only Mode: A read-only state displayed in apps like Safe{Wallet} when your wallet is not a direct owner of the Safe. Common with Gnosis Pay configurations.

• Offline PIN: A version of your card PIN stored on the card chip, used in terminals without an internet connection (e.g., some trains, fuel pumps).

• Sign-In Wallet: A wallet address added for view-only login access to your Gnosis Pay account. It cannot approve or execute blockchain transactions.

• Safe Owner: A wallet that has full on-chain control over a Gnosis Pay Safe. Owners can send funds, change settings, or remove other owners.

• Invalid Safe Configuration: A protective error state triggered when required Safe modules are removed or altered. It freezes your Gnosis Pay card until resolved with support.

• Wei: The smallest unit of Ethereum-based tokens. 1 token = 10^18 wei. Required for technical inputs like token transfers from the Safe.

• Bridged Token: A version of a token (like USDC or GNO) that has been transferred from another blockchain onto Gnosis Chain via a bridge.

Financial & Operational Terms

• Custodial: A setup where a third party (like a centralized exchange) holds and controls your private keys and funds on your behalf.
• KYC (Know Your Customer): A mandatory regulatory process for financial services to verify a client's identity. Gnosis Pay uses our partner, SumSub, for this process to comply with Anti-Money Laundering (AML) laws.
• Off-ramp: A service that allows you to convert cryptocurrency back into traditional fiat money (e.g., sending funds from your Safe to your bank account).
• On-ramp: A service that allows you to convert traditional fiat money (e.g., USD or EUR) into cryptocurrency.
• POA (Proof of Address): A verification step, often part of KYC, where users provide documents (e.g., utility bill, bank statement) to confirm their physical address.
• POI (Proof of Identity): A verification step where users provide official documents (e.g., passport, national ID card) to confirm their identity.
• Self-Custodial: A setup where you alone hold your private keys and maintain full, independent control over your digital assets. This is how Gnosis Pay works.

• SoF (Source of Funds): A regulatory question during onboarding asking where your spending money originates (e.g., salary, savings).

• SoW (Source of Wealth): A more detailed regulatory check requesting documentation to verify the origin of your overall financial position (e.g., inheritance, property sale).

• Final KYC Rejection: A decision where Gnosis Pay, due to compliance rules or risk factors, permanently declines your account access with no option for resubmission.

• Re-KYC: A re-verification process required when a user updates personal data like their legal name, address, or ID document.

• Freeze Card: A temporary action you can take to immediately stop card transactions. Unlike reporting a card as lost, this is reversible.

• Report Card as Lost or Stolen: A permanent action that disables your Gnosis Pay card and requires a replacement to be issued.

• Cashback Program: A time-limited Gnosis Pay rewards programme where users earn GNO tokens for qualifying purchases, based on their GNO holdings.

• Snapshot: A weekly record taken to calculate your GNO cashback. It captures your GNO balance and card spending activity each Saturday at 23:59 UTC.