Terms and Abbreviations

This section introduces frequently used terms and abbreviations. Please review the list for a more comfortable reading experience.

Mass Adoption	In the world of cryptocurrencies, this refers to the widespread use of cryptocurrency in daily operations, such as purchasing goods and services, sending money, investing, and much more. It also means that blockchain technology will be extensively implemented in various industries and fields of activity, changing the way many processes function.
NFT	Non-fungible token, this is a unique token in the blockchain network that exists in a single instance (as opposed to fungible tokens, each of which is a copy of any other). NFTs usually represent digitized images, text information, messages, and so on.
Blockchain	A distributed ledger of data that is stored decentrally, that is, on many computers in the network. The blockchain stores all transactions ever made in a given network, and can be viewed at any time by anyone who wishes.
Gas fee	In the context of blockchain, gas is a unit of measurement used to determine the cost of performing operations and computational tasks on the blockchain. It is a measure of the computational resources required to execute a particular operation or transaction on the blockchain.
MAU (Monthly Active Users)	Monthly Active Users (MAU) – a metric showing the popularity of a game, platform, or community among users. It is one of the main indicators for project evaluation.
Token	A unit of account, a certain set of symbols recorded in the blockchain, is needed to display your digital balance in some asset, i.e., a record of what you own and in what quantity.
Tokenomics	A combination of "token" and "economics," tokenomics is a general term for describing the characteristics of crypto-token demand and supply. Unlike state currency, tokens do not have a mutually agreed value. Value must be created for them and described in a tokenomics.
ACE	An untility in-game token in MetaTrace. Its emissions are unlimited.
TRC	A token in MetaTrace with limited emission. The total number of TRC tokens is 5,000,000,000.
MATIC	The cryptocurrency of the Polygon project, which operates on the Proof-of-Stake (PoS) consensus. Polygon is a Layer 1 solution for the Ethereum network.
Web3	The concept of "next-generation internet" is made possible by blockchain and services based on it. In this concept, users can not only consume content but also become its authors and owners, obtain exclusive rights to it, and monetize it. They can also take a direct part in project management, voting with their crypto tokens.
Genesis NFT Pass	Genesis NFT Pass — an NFT in the MetaTrace metaverse, tied not only to the NFT Cars mode mechanics, but also giving privileges to its owners within the entire MetaTrace project and other mechanics added to the project. For instance, it gives privileges for participation in various future airdrops conducted by us (the developer) specifically for Genesis NFT Pass owners.
Non-custodial wallet	It's a digital, decentralized wallet that doesn't belong to any organization. At the moment of creating the wallet, the user receives access keys, like an electronic safe that only user have access to.
Mint	Turning a regular image, gif, or track into an NFT, appearing in your wallet and at the same time making its debut on the market. "Minting an NFT" essentially means being the first in the network to claim your rights to a particular piece of art.
FreeMint	Free minting.
Swap	The exchange of one asset for another at a specified rate, carried out between two users or between a user and an exchange.
Floor Price	The lowest fixed price for items in a collection.
Pre-Sale	Pre-sale or a set of actions preceding the sale.
Emission	Creating and issuing cash and non-cash money into circulation.
Listing	The process of placing cryptocurrency on an exchange to start trading with other assets.
Gem	"Gem" is a potentially profitable asset, is usually underrated and inconspicuous among all others.
Royalty	A bonus to the NFT creator for each of its resales, in the form of a certain percentage of the amount received by the seller.
IEO (Initial Exchange Offering)	Initial Exchange Offering — the issuance of project tokens on CEX (centralized crypto exchanges).
IDO (Initial DEX Offering)	Initial DEX Offering — the issuance of project tokens, backed by liquidity pools on DEX (decentralized crypto exchanges).