Vaporware
Software or a product announced with fanfare but never actually shipped, sometimes used to pump a token.
A term borrowed from the tech industry, where products were promised for years and never arrived. In crypto, vaporware is the roadmap that never ships and the testnet that never reaches mainnet.
It is a warning sign. A glossy deck and a busy Twitter account can prop up a token's price long before any working code exists. When the product stays vapor, the chart usually follows.
Related terms
A foundational document laying out a crypto project's technology and token design, modeled on Bitcoin's 2008 paper.
TestnetA sandbox copy of a blockchain where developers trial code using tokens that hold no value.
MainnetThe live blockchain where transactions carry real economic value and tokens trade for actual money.
Exit ScamA project that collects user funds, operates long enough to build trust, then vanishes with the money.