Tokenomics, in plain English.

A free distribution of tokens to users, often retroactive — for example, to anyone who used a protocol before launch.

A regulated trading platform like Binance or Coinbase. Listings here drive most of the visible volume.

A waiting period after launch during which no tokens unlock for that bucket. Common for team and investor shares.

A protocol that uses token rewards to bootstrap real-world hardware (compute, storage, wireless).

An on-chain trading venue like Uniswap or Raydium. Trades anyone can do without an account.

Price per token × total supply. The valuation if every token were already circulating.

The portion of total supply that is unlocked and able to trade. The rest is locked in vests, treasury, or burns.

Tokens held by the team and investors (as opposed to community / treasury / public).

A wallet that supplies tokens to a DEX pool, earning a share of trading fees in return.

A professional firm that quotes both sides of the order book to keep trading liquid. Most listed tokens have at least one.

A token backed by something off-chain — bonds, real estate, gold, invoices.

Launch day — when the token first exists and trading begins.

A pool of tokens reserved for the project itself — grants, hires, partnerships, future programs. Often controlled by governance.

The schedule that releases tokens over time. Used to align team and investors with long-term success rather than dumping at launch.