# Terminology

## IDO

**Initial Decentralized Offerings**, or IDOs, are events where a project launches a token/coin that represents any type of asset on a decentralized liquidity exchange.

IDOs usually involve a whitelist sale, also referred to as public sale, where verified users are given the chance to buy a project's token at a fixed launch price before it is deployed to a Decentralized Exchange (DEX).

## KYC

KYC means **Know Your Customer**.

KYC check is a mandatory process of identifying and verifying the customer's identity when opening an account and periodically over time.

In other words, bank/entity must make sure that their customers are genuinely who they claim to be.

A request to open an account or a account can be suspended/halted of a business/customer if KYC requirements are not met.&#x20;

## DEX

A **decentralized exchange** (DEX) is a peer-to-peer marketplace where crypto can be traded without a bank, broker or other intermediary. DEXs play a large part in decentralized finance (DeFi).  $STARS can be traded on Raydium, a Solana-based DEX.&#x20;

## Burn

When a token is "burned," it is purposefully and permanently removed from circulation. This practice is done in the interest of deflation to decrease the circulating supply of a token, thereby driving the price of an asset upward.&#x20;





