Learn Crypto with KALA – KALA Crypto Glossary (Part 2)

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Hi #KalaArmy 👋

We’re back with the next part of our learning series to give you another 15 crypto terms that we used on our website, whitepaper, and related documents. Let’s get to it! 🏃‍♂️

🛑 This is part 2 of this series. If you haven’t read part 1 please check it out here: 

📘 KALA Crypto Glossary 📘

Airdrop: A marketing campaign that distributes a specific cryptocurrency or token to an audience.

Governance Token: A governance token is a token that can be used to vote on decisions that influence an ecosystem.

Guild: Guild or faction is an organized group of people that regularly interact together for mutual aid or the pursuit of a common goal.

IDO: IDO stands for Initial Dex Offering and is a crypto token offering run on a Decentralized Exchange (DEX).

KLNW: The governance token of KALA Network.

KUDO: The SociaFi token of KALA Network.

Launchpad: Crypto launchpads, also known as crypto incubators, are platforms that allow blockchain-based projects to raise capital while giving access to early-stage token sales for their group of investors.

NFT Marketplace: An NFT marketplace is a digital platform for buying and selling NFTs. These platforms allow people to store and display their NFTs plus sell them to others for cryptocurrency or money.

PEN/PENCIL: The exclusive NFTs of KALA Network. Owning these NFTs will increase your earnings from Social Mining on the KALA platform.

TGE: TGE stands for Token Generation Event which is the time at which a token is issued.

Token: A digital unit designed with utility in mind, providing access and use of a larger crypto-economic system.

Socialize-to-Earn: A business model that provides financial benefits to all users who add value by contributing to the SocialFi platform.

Social Mining: On KALA Network, users can earn from socializing/doing social tasks on the platform. This process is called Social Mining.

Tokenomics: Tokenomics is the science of token economy which consists of a set of rules that governs a cryptocurrency’s issuance and supply.

Vesting: The act of restricting the sale of a token for a particular period of time.

That is it for this part. Once again, let us know if there’s any term you don’t understand and we’ll include it in our next one. Thank you! 😄