Topic
Assets
A ticker is a name. Under it may be a claim on a company, a picture, a meme, or a stand-in for a coin locked somewhere else.
- 01Who gets paidThe issuer, the market, and anyone who can mint more.
- 02Who can change the rulesThe contract, and the legal claim if the token says it is something in the real world.
- 03Who can stop the moneyA failed peg, a wrapped lock, or a supply unlock you did not read.
Courses
29 · 3 min
Stablecoins
A stablecoin is a token that claims to stay near a dollar. The claim depends on what it is pegged to, and on who can refuse a redemption.
30 · 3 min
How pegs fail
A peg fails when people ask for the real asset and the issuer or the design cannot produce it fast enough. The price on a market then drops below the promise.
31 · 2 min
Wrapped assets
A wrapped asset is a stand-in. A token on one chain claims to represent a coin locked somewhere else. Someone, or some contract, can fail to unlock it.
32 · 3 min
NFTs
An NFT is a record that says a particular token id points at some data, often a picture or a membership. You own the token. You may not own the picture.
33 · 2 min
NFT markets
NFT markets are websites that list tokens and take a fee. Volume can be painted. Royalties can be switched off. The market is a company plus a contract.
34 · 2 min
Memecoins
A memecoin is a token whose main product is attention. Attention is real. It is not a reason to ignore who can mint more, or who holds the supply.
35 · 2 min
Inscriptions, ordinals, and runes
Inscriptions and ordinals attach data to bitcoin. Runes are a way to make simple tokens there. They are not bitcoin itself, and they inherit bitcoin's fees.
36 · 2 min
Token supply, unlocks, and vesting
Supply is how many tokens exist and who will receive more later. An unlock is a date when locked tokens become sellable. That date is when insiders can get paid.
37 · 2 min
Market cap and FDV
Market cap multiplies the price by the coins that are already trading. Fully diluted value multiplies the price by every coin that could exist. The second number is often much larger, and easier to hide.
This page does not tell you what to buy. Not financial advice.