Definitions

Audit

An independent third-party inspection and analysis of a smart contract code to determine if any vulnerabilities or security risks are present.

Binance Smart Chain

The selected blockchain upon which SmudgeCoin will be created and distributed.

Blockchain

A digital database containing information (such as records of financial transactions) that can be simultaneously used and shared within a large decentralized, publicly accessible network.

Burn

The destruction of a cryptocurrency and its removal from circulation. Burns are permanent and can never be reversed.

Charity Donation Fee

A fee collected programmatically from each transaction for donation to animal charities and nonprofits.

Community Coin

A cryptocurrency project focused on community input and involvement during development to create a sustained cooperatively agreeable growth trajectory.

Cryptocurrency

Any form of currency that only exists digitally, that usually has no central issuing or regulating authority but instead uses a decentralized system to record transactions and manage the issuance of new units, and that relies on cryptography to prevent counterfeiting and fraudulent transactions.

Non-fungible token (NFT)

A unique digital identifier that cannot be copied, substituted, or subdivided, that is recorded in a blockchain, and that is used to certify authenticity and ownership (as of a specific digital asset and specific rights relating to it).

Nominee Charity

A charity vetted by the core team and submitted before the community for voting. No donations will be made until after a charity nominee is approved by a community vote.

Tokenomics

The supply and demand of available tokens within a given project or network.

Vesting Schedule

A program to restrict the sale of any coins or tokens received by project founders, contractors, and developers for a given period of time.