Token

How it is used

One of the most frequent words in the field: issue, launch, mint, burn, list, transfer and swap tokens. People describe a token's purpose with labels such as utility token, governance token and security token. The people who own them are token holders.

Example sentences

1. The project will issue a governance token so that users can vote on changes.

2. The exchange listed the token after a two-month review.

Common collocations

• issue a token
• governance token
• utility token
• token holder
• burn tokens

Related terms

• cryptocurrencyDigital money that exists only on a blockchain and is protected by cryptography instead of being issued by a central bank. Bitcoin was the first one.
• altcoinAny cryptocurrency other than Bitcoin. The word comes from 'alternative coin' and covers thousands of very different projects.
• ERC-20The standard set of rules that most fungible tokens on Ethereum follow, so that wallets, exchanges and apps can handle them all in the same way. ERC stands for Ethereum Request for Comments.
• tokenomicsThe economic design of a token: how many exist, how they are created and distributed, who receives them and when, and what they can be used for.
• mintTo create new tokens or NFTs by calling a smart contract and recording them on the blockchain for the first time. As a noun, a mint is the act or event of creating them.

This word in other fields

The same English word can have a different meaning in another field:

• token · Software Engineering
• token · Artificial Intelligence & Machine Learning

More terms: Coins & Tokens

• Bitcoin
• Ethereum
• stablecoin
• airdrop
• ICO
• circulating supply
• satoshi
• burn