Glossary of Terms
| Term | Description |
|---|---|
| FDV | Fully diluted value, the total market cap of a cryptocurrency token if the entire supply of that token was in circulation. |
| Cliff period | The initial phase of a vesting schedule during which no tokens are granted. |
| Vesting schedule | The timeline which outlines the granting of tokens i.e. when they are claimable. The vesting schedule is based on a linear distribution across the vesting period. Note that the vesting period must include the cliff period. e.g. if a token has a cliff period of 3 months and the vesting schedule is to distribute the tokens over 12 months, the total vesting period is 15 months. |
| Vesting contract | Smart contract used in the blockchain and cryptocurrency space to manage the distribution of tokens over a specified period. This type of contract ensures that tokens are released to recipients (investors) gradually, rather than all at once, in accordance with a predetermined vesting schedule. |
| Discount rate | The discount to the price for a lot. There are two types of discounts available for the seller to set:- “linear” which is a proportional discount that scales with the quantity of tokens being purchased or “fixed” which is a set discount on the purchase price. |
| Unlock start date | The date when the vesting schedule begins and tokens begin to be granted. This date is at the end of the cliff period when no tokens are granted (note: month = 30 days, week = 7 days, day = 1 day). |
| Cycle based vesting plan | The token distribution function will be based on cycles, with the drop rate per cycle being evenly distributed. For example, if the vesting duration is 24 months and one cycle is 1 month, the token distribution will be divided into 24 cycles. Users will be able to claim tokens only after the end of each cycle. |
| Time based vesting plan | The vesting condition stipulates that tokens will be distributed progressively over the vesting duration, allowing users to claim their tokens at any time; the contract will dynamically calculate the claimable balance each time the user interacts with the claim function. |
| Token issuer dashboard | A dashboard with all tokens related to the token issuer’s wallet address. |
| Sell limit | Set to limit the percentage of tokens that can be sold. Setting a limit maintains market stability by preventing rapid sell-offs that lead to price volatility and also encourage higher conviction owners. |
| Marketplace | The common platform where sellers and buyers carry out trades. Users can browse the marketplace where lot cards are displayed and then carry out offers or bids. The user added to a vesting plan can also list their tokens. |
| Partial fill type lot | Allows partial purchases of the tokens in the lot. |
| Single fill type lot | All tokens in the lot must be purchased at the same time. |
| Pool type | Only the public pool type is available at this time. Public lots are available to users of the Marketplace. |
| Selling price per token | The selling price for a token being sold in a lot in USDT. |
Updated on: 28/11/2024
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