Staking, Token, Whitelist, and WGMI
Staking: An arrangement where you agree to lock up your assets (cryptocurrency or NFTs) for a period of time in exchange for rewards (usually tokens or cryptocurrency or NFTs). Rewards are similar to interest for keeping money in a savings account.
Token: A cryptographic entry that represents an NFT, payment/currency unit, trading asset, information holder, etc.
Whitelist / Allow List: A method of access control that’s typically used to grant private access to a platform or experience (it’s often used for minting NFT projects)
WGMI: We’re all gonna make it (a supportive rallying cry)
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Web3 is mired in a dizzying array of acronyms that make diving an uphill battle. Here are some which will help you become more familiar with this exciting, dynamic space.
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