Glossary

Every blockchain and Trustfy-specific term used across this guide, defined in plain English.

Arbitrator

The independent reviewer who resolves disputes.

A neutral third party who reviews the chat, evidence, and timeline of a disputed trade and issues a binding ruling on how the escrowed funds should be split. Not a Trustfy employee and not either trader.

BEP20

The BNB Smart Chain token standard.

A technical standard that defines how tokens work on BNB Smart Chain — how they're transferred, how balances are tracked, and so on. "USDT (BEP20)" means the version of USDT built to this standard, which lives only on BSC.

BNB

BNB Smart Chain's native currency, used to pay gas.

The currency you use to pay small network fees (gas) for every action you take on BNB Smart Chain — connecting your wallet, publishing an ad, funding a trade, and so on. You need a small amount of BNB in your wallet to do anything on Trustfy.

BNB Smart Chain (BSC)

The blockchain Trustfy runs on.

The single blockchain network that Trustfy operates on. Every wallet, transaction, and smart contract used by Trustfy lives on BSC — no other network is supported.

Bond

A refundable deposit that keeps traders honest.

An amount of USDT locked up alongside a trade as a good-faith deposit. Trustfy uses two: the same bond rate a maker posts as the Ad Bond and a taker posts as the Matching Bond, plus the larger Dispute Bond (backs the cost of arbitration). Both are returned in full when a trade completes normally, and only partially or fully forfeited if you cancel too often, default on payment as a buyer, or lose a dispute. See the Bonds & Fees chapter — not to be confused with a Fee, which isn't refundable.

Buyer Default

What happens when a buyer never pays.

The outcome when a funded trade's buyer never confirms payment within the window. The seller reclaims their full Trade Amount and their own bond — nothing they put in was ever at risk — and the buyer's Matching Bond (or Ad Bond, if the buyer is the maker) is forfeited to the platform treasury as a penalty. It's never paid to the seller as a windfall; see the Bonds & Fees chapter.

Chain ID

A number that identifies which blockchain network you're on.

Every blockchain network has a unique numeric ID your wallet uses to know which chain it's talking to. If your wallet is set to a chain ID other than BNB Smart Chain's, Trustfy will prompt you to switch.

Dashboard

Your personal home screen inside the Trustfy app.

The page you land on after connecting your wallet, summarizing your locked capital, open ads, active trades, and recent activity at a glance.

Dispute

A formal disagreement over a trade, sent to arbitration.

When a buyer and seller can't agree that a payment was properly sent and received, either side can open a dispute. An arbitrator then reviews the evidence and issues a binding ruling. See the Disputes chapter.

Escrow

Funds held by neutral code until conditions are met.

The mechanism that holds a trade's USDT inside a smart contract — not with Trustfy, not with either trader — until the conditions for release are met. See the Escrow chapter.

Fee

Trustfy's actual, non-refundable charge on a completed trade.

The maker fee (0.5% by default) or taker fee (1% by default) Trustfy collects when a trade completes — unlike a Bond, a fee is never refunded, because it isn't a deposit. See the Bonds & Fees chapter, and Gas for the separate network charge people often confuse it with.

Gas

The small network fee paid in BNB for on-chain actions.

A small payment in BNB required to process any action on the blockchain — matching an ad, confirming a payment, releasing funds. It goes to the network that processes the transaction, not to Trustfy — a different thing from a platform Fee, which is paid in USDT and goes to Trustfy. See the Gas chapter.

Maker

Whoever publishes an advertisement.

The trader who creates and publishes a buy or sell ad, setting its price, limits, and terms. A maker's ad can be matched by one or more takers.

Match

The moment a taker accepts (part of) a maker's ad.

When a taker commits to trade against some or all of a maker's open ad. A match creates a trade with its own lifecycle, separate from the ad it came from.

MetaMask

A popular browser-extension and mobile Web3 wallet.

One of the most widely used Web3 wallets, available as a browser extension and mobile app. Supported for connecting to Trustfy.

Non-custodial

Nobody but you controls your funds.

A system where no central company or person ever takes possession of your assets. On Trustfy, your USDT stays in your own wallet or in a neutral smart contract — never in an account Trustfy controls.

Permit2

A signature standard that bundles a deposit into one approval.

A widely used, audited signing standard that lets you authorize a token deposit with a single wallet signature instead of two separate transactions. Trustfy uses it so publishing an ad only requires one signature, not several.

Private key

The secret code that proves ownership of a wallet.

A long secret string, mathematically derived from your seed phrase, that lets you sign transactions and prove a wallet is yours. Never share it with anyone — whoever has it fully controls the wallet.

Rabby

A security-focused Web3 wallet browser extension.

A browser-extension wallet known for pre-transaction risk warnings. Supported for connecting to Trustfy.

Reputation

A trader's track record of completed trades and ratings.

A score built from a trader's trade history and the ratings left by past counterparties, shown on their profile and ads to help you judge how trustworthy they are before matching a trade.

Seed phrase

The 12–24 word master key to your entire wallet.

A sequence of words that can regenerate your wallet's private keys on any device. Whoever has it has full, irreversible control of your funds. Never type it into a website, screenshot it, or share it with anyone — including anyone claiming to be Trustfy support.

Settlement Time Window

The countdown that governs payment and settlement deadlines.

A maker-chosen time limit (shown on every ad) that determines how long a buyer has to pay after a trade is funded, and how long a seller has to confirm receipt after the buyer marks it paid before settlement or a dispute becomes available.

SIWE (Sign-In With Ethereum)

The signature-based login Trustfy uses instead of a password.

A standard way to log in by signing a one-time message with your wallet, proving you control that address — without ever creating a password or giving Trustfy any custody over your funds.

Smart contract

Code on the blockchain that runs exactly as written, for everyone.

A program deployed on the blockchain that automatically executes according to its rules — nobody, including Trustfy, can change how it behaves after the fact or override an outcome it wasn't written to allow.

Stablecoin

A crypto token designed to hold a steady value (like $1).

A type of cryptocurrency engineered to stay pegged to a stable value, usually the US dollar. USDT is the stablecoin Trustfy trades — 1 USDT is designed to always be worth roughly $1.

Taker

Whoever matches an existing advertisement.

The trader who accepts the terms of an existing ad by matching some or all of it, creating a trade.

TEP (Trustfy Economic Protocol)

The rulebook governing bonds, fees, and escrow on Trustfy.

The specific set of smart-contract rules that define how bonds, fees, escrow, and dispute resolution work on Trustfy. See the Understanding Trustfy chapter.

Trade

A single, matched transaction between two traders.

The individual transaction created when a taker matches (some or all of) a maker's ad. A trade moves through its own lifecycle — see the Trade Lifecycle chapter.

Trust Wallet

A popular mobile-first Web3 wallet.

A widely used mobile wallet app that supports BNB Smart Chain natively. Supported for connecting to Trustfy, including via the "Launch with Trust Wallet" link on the homepage.

USDT (BEP20)

The stablecoin traded on Trustfy.

Tether (USDT) issued on BNB Smart Chain under the BEP20 standard. This is the only version of USDT Trustfy supports — USDT on other networks is not compatible.

Wallet

The app that holds your crypto and signs transactions for you.

A piece of software (browser extension, mobile app, or both) that stores your keys, shows your balances, and lets you approve or reject transactions. You need one to use Trustfy — see the Wallet Setup chapter.

WalletConnect

A protocol that connects mobile wallets to websites via QR code.

A standard that lets you connect a mobile wallet app to a website (like Trustfy) by scanning a QR code, without installing a browser extension. Supports dozens of different wallet apps.