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As a chemist, yes, terpenes are actual things. Natural products made up of 5 carbon units called isoprenes!

IANA (botanist, chemist?), but terpenoids are in most plants, e.g. pinene is abundant in pine trees, responsible for their smell, and happens to modulate cannabis’s subjective effects in very interesting ways.

A blend good for sleep might have a good amount of THC and CBN (and maybe some CBD) plus the mycrene and beta-caryophyllene terpenes (associated with the more sedating strains).

Indica/sativa don’t really mean anything, strains are mostly just variations of terpenes.

Wikipedia is usually a good place to start: https://en.wikipedia.org/wiki/Terpene

yep, terpenes are organic compounds found in a wide range of plants. It's one of the reason pine trees smell so nice.

See https://en.wikipedia.org/wiki/Terpene and https://en.wikipedia.org/wiki/Terpenoid