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All text between the less-than and greater-than signs (<>) is a placeholder/variable, replace it with the requested value without the less-than and greater-than signs (<>).
There is no need to download the expansion anymore! The expansion was moved inside the plugin itself in the 1.8.2 update which means less work for you! As long as you have PlaceholderAPI installed, the expansion will register automatically.
DeluxeTags provides internal placeholders that you can use inside DeluxeTags's GUI and messages.