Glossary ​

• Burn: The process of destroying tokens permanently, reducing the total supply of the tokens in the system. Burning tokens is a common practice to control the circulation and stabilize the value of tokens.
• ERC-20, ERC-721, and ERC-1155: Equivalent standards for tokens on the Ethereum blockchain. ERC-20 defines a common list of rules for Ethereum tokens to follow, allowing for seamless interaction with other tokens; ERC-721 is the standard for non-fungible Ethereum tokens, and ERC-1155 is a multi-token standard that supports any mix of fungible and non-fungible tokens.
• FA1.2 and FA2: The two most recent standard for token contracts on Tezos. FA2 is the more recent and flexible standard, supporting both fungible and non-fungible tokens, whereas FA1.2 supports only fungible tokens.
• Fungible Token: A type of digital token where each unit is interchangeable with any other unit.
• Ledger: A digital register that tracks the ownership of tokens.
• Metadata: Supplementary information associated with tokens or contracts which doesn't directly influence the contract's logic.
• Mint: The process of creating new tokens. In the context of smart contracts, minting is often a function that allows certain addresses to create new tokens in the system.
• Non-Fungible Token (NFT): A type of digital asset in which each token is completely unique, making them irreplaceable with something else.
• Token: A digital asset representing a unit of value.
• TZIP: Tezos Improvement Proposal, a design document providing information or describing a new feature for Tezos or its processes or environment. TZIPs propose and discuss changes and additions to the Tezos protocol.