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Standard features are defined by PWR Apps and hence available throughout the orgavailable to all instances.
Custom feature
Custom features are those defined by you publishers while creating an application, as they are custom feature features, names of the feature that will be prefixed with instance ID.
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Records indicate the number of records can a user can create on an a license object using that feature.
Numbers:
The number This type of feature indicates the number of APIs times the user can a user use using that this feature. For example, the user to which this feature's license is assigned can consume n APIs a number of documents printed per day, after that he will get an error that his allocated amount is exhausted.
API:
API This type of feature indicates a the number of APIs users can have access toconsume. For example, all users together in the instance can consume max n API per year, after that, they will get an error that allocated calls are exhausted.
Storage:
Standard, system and metadata records creation can be controlled using feature type storage. scope The total number of records can be created in the given instance. Scope for storage feature type will be instance only. The storage type feature will not have a reset period property
Reset Period
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Daily:
There may be some features that will not need reset for example orektic__timesheet feature does not need any reset.
Daily:
There will be some features that will get reset daily i.e after every 24 hr. For example, API usage has to be reset on the basis of the day (24 hr)The used amount will reset to zero every day at 00:00 AM of instance timezone.
Monthly:
The used amount will reset to zero every month on the 1st day of the month at 00:00 AM of the instance timezone.
Annual:
There will be some features that will get reset annually, for example, there are some APIs whose usage has to be reset annually.
Monthly:
There will be some features that will get reset monthly, for example, orektic_timesheetAPI feature needs a monthly reset property.The used amount will reset to zero every year on 1st Jan at 00:00 AM of instance timezone.
Never:
The used amount will never reset
Scope
Instance:
If the scope of the feature is an instance that means it will indicate all users together in the instance can use that feature.
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If the scope of the feature is user User then that means a user-based feature so only available to users to which this feature's license is assigned can use that feature in the app.