Glossary

Burning — the act of burning or removing a number of tokens from the circulating and total supply, which often results in increased demand.

DApps — decentralized applications made for blockchains supported by a group of nodes instead of a centralized server.

DeFi — the decentralized analog to traditional finance, it includes accessible financial services and applications based on smart contracts.

DNS — Domain Name System, a technology that allows users to make transactions between human-readable domain names and machine-readable IP addresses

EVM — Ethereum Virtual Machine, a machine behaving like a decentralized computer, it computes the state of the Ethereum blockchain after each new block and executes smart contracts. TONBanking bot Fiat — regular money issued by central banks or financial authorities.

FunC — the smart contract language on TON Jetton - fungible token standard for TON blockchain.

Launchpad — a platform for crypto startups that brings investors and projects together.

Liquidity pool — grouping together crypto assets and freezing them in a smart contract. Liquidity pools are used for decentralized trading, loans, and other endeavors.

Mainnet — the main network of a blockchain.

Merchant - Goods seller on TONBanking platform Nominator — those who provide financial resources to validators so the latter can confirm blocks on TON Blockchain.

Off-ramp — ways to convert cryptocurrencies into fiat money.

On-ramp — ways to convert (buy) cryptocurrency by spending fiat money.

P2P — peer-to-peer, transactions among users without the help of a third party or intermediary.

Roadmap — a project’s strategic plan that displays when its products, services, updates, etc. will be released.

Smart contract — self-executing code that oversees and enables operations with the help of mathematical algorithms and without human intervention.

Staking — a way for users to earn a passive income by storing coins or tokens in a proof-of-stake algorithm, which, in turn, ensures the blockchain runs smoothly. For this, they earn rewards as an incentive.

Token — a form of digital asset; it can have multiple functions.

Toncoin — the native cryptocurrency of the TON Ecosystem, which is used to develop services and pay for fees and services. It can be bought, sold, and traded.

Ticker — the short form of a cryptocurrency, asset, or token on exchanges, trading services, or other DeFi solutions — e.g. TON for Toncoin.

Validator — those who verify new blocks on TON Blockchain.

Wallet — software that stores cryptocurrencies through a system of private keys needed to buy or sell cryptocurrencies and tokens.

White paper — the main document of a project written by its developers. It explains the technology and the project’s goals.

Workchain — secondary chains that connect to the masterchain. They can contain a massive number of different connected chains that have their own consensus rules. They can also contain address and transaction information and virtual machines for smart contracts. Additionally, they can be compatible with the masterchain and interact with one another.