The Outter Ring of the Bodhi Chanda Seal contains the initials of two essential mantras in Buddhist Practice:

Bodhicitta Mantra : Oṃ Bodhicittam Utpādayāmi 
Prajnaparamita Mantra : Gate Gate Pāragate Pārasaṃgate Bodhi Svāhā
 
The Bodhicitta Mantra can be described as the "Beginners Mind" mantra. A practice of cultivating the vow to act with compassion and seek personal growth and realization for the benefit of all beings.
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The Prajnaparamita Mantra can be described as the "Mirror Mind" mantra.  A practice of releasing rigid certainty, seeing the true nature of all things, and letting wisdom dissolve boundaries — so clarity and compassion may act freely for the benefit of all beings.
 
Therefore the Outter Ring of the Bodhi Chanda Seal describes a journey starting with a vow to awaken for others (Bodhicitta) and culminates seeing through all illusions (Prajñāpāramitā). Yet true wisdom circles back — emptier, lighter — to begin again with the heart of a beginner.