Glossary
Short meanings for the words on this site. Where it helps, the example is Fletcher (FLTC) on NEAR.
These are teaching definitions, not legal ones. Nothing here is a price or a promise of value.
- Blockchain
- A shared record. Many computers keep a copy, and a new line is added when they agree. The lesson says this more slowly.
- NEAR
- The blockchain Fletcher uses. Account names on NEAR end in
.near. - Token
- A count on a blockchain: this account holds this many units. FLTC is a token. It is not a share in a company, and it has no promised value.
- Contract
- The program on the chain that sets a token's rules. Fletcher's contract is
fltc-af549c.launchpad.justhoot.near. Match every character. It begins with the letters f, l, t, c. The L is a lowercase L. - Wallet
- Software that holds the keys for an account, so the account can sign a transfer.
- Recovery phrase
- A list of words that can rebuild a wallet's keys. It is also called a seed phrase. Anyone who has it can move what the wallet holds. Never share it, and never type it into a website.
- Transfer
- A recorded message that moves tokens from one account to another. On FLTC, a wallet-to-wallet transfer is free of the 0.1% fee.
- Gas
- A small network fee, paid in NEAR, so the chain will record a transaction. A wallet-to-wallet transfer of FLTC still pays this. It is separate from the 0.1% fee on Rhea trades.
- Fee
- On FLTC, 0.1% of a trade on Rhea. A wallet-to-wallet transfer does not take it. It was set at launch. Of that fee, 33% is burned, 33% goes to the holder pool, and 34% goes to the creator. The case study has the NearBlocks links.
- Burn
- The part of the FLTC fee that leaves total supply. Those units are not sent to a person. The live drop is on the fee page.
- Holder pool
- The account
holders.fltc-af549c.launchpad.justhoot.near. It receives 33% of the fee. The balance is what is there now. If people claim from it, the balance falls. Burned supply does not fall when they claim. - 34% of the fee, sent to
ruderice9599.near. That account also holds tokens from the launch, so its balance is not a total of fees received. - Transaction
- One recorded action on the chain, such as the launch or a transfer. It has an id you can open on NearBlocks.
- NearBlocks
- A public website that shows NEAR accounts, tokens, and transactions. Use it to check the FLTC contract and the launch transaction yourself. Do not type a recovery phrase into it.
- Supply
- How many units exist. FLTC supply falls when the burn runs. Read the current total on the fee page, not from a number frozen on a lesson.
- Decimals
- FLTC uses 18 decimals. The chain stores a whole number. The last 18 digits are the fraction.
- Pool
- On Rhea Finance, a pair of tokens people can trade. Fletcher's pool is FLTC and wrapped NEAR. This site does not show the price of that pool.
- Swap
- A trade of one token for another in a pool. Here that pool is FLTC and wrapped NEAR on Rhea. A swap is optional. This site does not place one and does not show a price.