Glossary

User

The entity that defines and submits functions to the network. A user specifies the function logic, required input data, and execution trigger. Users are the primary initiators of network activity and are responsible for setting up functions securely.

Function

A function is the fundamental unit of execution defined by a user within the protocol. Each function consists of three components:

1. Inputs: Data required for execution, typically fetched from oracles. Inputs are validated by relayers using cryptographic signatures provided by oracles.

2. Logic: A deterministic function specified by the user that processes the inputs and evaluates conditions to decide whether an intent should be generated.

3. Trigger: A configuration defining when the function should be executed (e.g., based on time intervals, specific events, or user-defined conditions).

Functions act as the bridge between Relayers, who execute the function logic, Oracles, who provide the necessary inputs, and a central coordinator called Axia in charge of receiving the generated intents if the function conditions are met. By combining these components, functions enable automation and precise evaluation of user-defined criteria within the protocol.

Registry

The Registry is the on-chain component of Mimic Protocol responsible for storing, managing, and validating all registered functions and their associated triggers. By anchoring these details on-chain, the Registry guarantees transparency, immutability, and trustless coordination between users and relayers.

Intents

An intent is a structured request that specifies an action to be executed, subject to predefined conditions and constraints cryptographically signed. Intents serve as the core units of work within the protocol, enabling decentralized systems to process, validate, and execute user-defined operations.

Relayers

Relayers are decentralized network participants responsible for executing functions on behalf of users. They fetch oracle-signed data, evaluate the function logic deterministically, and submit proofs of execution to the protocol. Relayers ensure that functions are executed faithfully, adhering to the user-defined conditions and inputs.

Relayers are incentivized through rewards for valid executions and are penalized for invalid or malicious activity. They play a crucial role in maintaining the integrity and reliability of the network.

Oracles

Oracles are decentralized data providers responsible for supplying accurate, cryptographically signed inputs required for function execution. Oracles respond to queries from relayers with verified data, including values, timestamps, and cryptographic proofs. This ensures that all function executions are based on trusted and reproducible inputs.

Oracles are rewarded for providing valid responses within the expected range and are penalized for outliers or inconsistent data. They serve as the backbone of the protocol’s data integrity, enabling deterministic function execution.

Validators

Validators are independent agents responsible for verifying the correctness and determinism of relayer function executions. When a relayer submits an execution of a function — including the inputs and outputs — validators check that this execution complies with the deterministic behavior specified by the function trigger.

Validators essentially act as impartial referees, ensuring that relayer executions cannot be manipulated or produce inconsistent results. Their signature or attestation may be required before the function is finalized on-chain, providing a layer of trust and integrity for automation workflows.

Axia

Axia is the central coordinator within the protocol responsible for managing the lifecycle of intents execution. It validates intents, broadcasts them to eligible solvers, evaluates solver proposals, and ensures robust execution by prioritizing the best proposals. Axia also tracks solver performance and enforces penalties or rewards to maintain reliability and efficiency in the system.

Solvers

Solvers are entities that compete to fulfill intents. They respond to intent broadcasts with proposals detailing execution parameters, including fees, output amounts, and estimated completion times. Solvers are evaluated based on reputation, execution fees, and timeliness. Reliable solvers are rewarded, while those that fail to execute valid proposals are penalized.

Safeguards

Safeguards are cryptographically signed constraints defined by the user to impose strict controls over the behavior and execution of an intent. Safeguards ensure that intents are executed within specific, user-defined boundaries, preventing misuse, unauthorized actions, or undesired outcomes.

Settler

The Settler is the protocol component responsible for executing validated intents on-chain, ensuring that user-defined safeguards are respected and finalizing the outcome based on the winning proposal selected through the solvers network. It acts as the final step in the lifecycle of an intent, transforming it from a validated request into a concrete action.