Glossary

Butterfly Protocol - A decentralized web name system

TLD - Top level domain that is directly under the root domain. For example “sports” can be a TLD and “fantasy.sports” represents a subdomain of “fantasy” under the top level “sports” domain

FQN - Fully qualified name, the label for the domain plus all of its parents, for example fantasy.sports.

Domain - A name of some entity within Butterfly. There can be many subdomains under a parent domain. A subdomain is similar to a subdomain in the current domain name system

IPFS - InterPlanetary File System

ERC-721 - An Ethereum contract for non-fungible tokens, each ERC-721 token represents a single name, aka a domain

ERC-20 - Butterfly uses ERC-20 compatible tokens as fungible tokens that are used (burned) to create subdomains for the domain that they belong to. Any reference to “ERC-20” in this document means that the token is ERC-20 compatible; it may contain additional features beyond the base ERC-20 definition.

BFLY - the token acquired during the initial exchange offering. Owners of this token get to sponsor the TLDs creation and they receive ERC-20 compatible tokens for each TLD created.