About Starzip
Glossary
Key terms used throughout the Starzip platform and documentation.
B
- BNB Smart Chain (BSC)
- A Layer 1 blockchain network, also known as BSC. Starzip operates on BNB Smart Chain mainnet. Gas fees are paid in BNB.
- Buyback & Burn
- A mechanism where the platform uses a portion of its revenue to purchase tokens from the market and permanently destroy (burn) them, reducing the total supply over time.
D
- DEX
- A cryptocurrency exchange that operates without a central authority, allowing users to trade directly through smart contracts on a blockchain.
G
- Gas Fee
- A fee paid to the blockchain network to process a transaction. On Starzip (BSC), gas fees are paid in BNB.
I
- Issuer
- A business owner who registers on Starzip and issues a Store Token, then sells part of it through a token sale.
L
- Limit Order
- An order to buy or sell a token at a specific price. The order is only executed when the market reaches the specified price.
- Liquidity
- The ease with which a token can be bought or sold on the market without significantly affecting its price.
- Lock-up
- A period during which tokens cannot be traded or transferred. A lock-up period is applied to the owner allocation after listing.
Q
- Quote Currency
- The currency used to price a trade. On Starzip, supported quote currencies include USDT and USDC.
S
- Settlement Contract
- A smart contract that holds deposited user funds on Starzip. Users deposit into the settlement contract to trade and withdraw back to their wallet.
- Slippage
- The difference between the expected price of a trade and the actual price at which the trade is executed, typically caused by low liquidity or market volatility.
- STAR
- The native utility token of the Starzip platform. Not yet issued - utility and distribution will be announced at the Token Generation Event (TGE).
- Store Token
- A utility token issued by a business on Starzip. Store Tokens represent a business and can be traded on the platform.
- Staking
- Locking up STAR tokens for a period of time to earn benefits. (Coming soon)
T
- TGE
- The event at which STAR tokens are officially created and distributed.
- Token Sale
- A sale on Starzip in which part of a Store Token (10% of total supply) is sold to users at a price set by a sale contract before the token is listed. The price becomes higher the more is sold, and buyers can sell back at the current price.
- Trading Fee
- A fee charged on each trade executed on Starzip. Starzip uses a maker/taker model: 0.15% for taker orders and 0.03% for maker orders (subject to change).
V
- Vesting
- A schedule that determines when locked tokens are gradually released and become available for trading or transfer.