In 1992, Wolszczan and Frail discovered that the pulsar had two planets. The discovery stimulated a search for planets orbiting other pulsars, but it turned out such planets are rare only one other pulsar planet, orbiting PSR B1620-26, has been confirmed. The pulsar formed about one to three billion years ago as the result of a white dwarf transforming into a rapidly spinning neutron star during the process of two white dwarfs merging with each other. The pulsar is extremely hot, with a surface temperature of either less than or equal to around 28856 K. The radius is also estimated to be around 10 kilometres (~0.000015 R в‰), also common for pulsars and neutron stars. The pulsar is estimated to have a mass of 1.4 M в‰, which is typical for most neutron stars and pulsars. Using refined methods one more planet was found orbiting this pulsar in 1994. In 1992 Wolszczan and Dale Frail published a famous paper on the first confirmed discovery of planets outside our solar system. It is a millisecond pulsar, a kind of neutron star, with a rotation period of 6.22 milliseconds (9,650В rpm), and was found to have anomalies in the pulsation period, which led to investigations as to the cause of the irregular pulses. PSR B1257+12 was discovered by the Polish astronomer Aleksander Wolszczan on Februusing the Arecibo radio telescope. This stellar remnant is now so entered in the IAU Catalog of Star Names. In its first bulletin of July 2016, the WGSN explicitly recognized the names of exoplanets and their host stars approved by the Executive Committee Working Group Public Naming of Planets and Planetary Satellites, including the names of stars adopted during the 2015 NameExoWorlds campaign. In 2016, the IAU organized a Working Group on Star Names (WGSN) to catalog and standardize proper names for stars (including stellar remnants). A lich is a fictional undead creature known for controlling other undead creatures with magic Draugr refers to undead creatures in Norse mythology Poltergeist is a name for supernatural beings that create physical disturbances, from the German for 'noisy ghost', and Phobetor is the deity of nightmares in Greek mythology. The winning names were those submitted by the Planetarium SГјdtirol Alto Adige in Karneid, Italy.

In December 2015, the IAU announced the winning names were Lich for this pulsar and Draugr, Poltergeist and Phobetor, for its planets (A, B and C, respectively). The process involved public nomination and voting for the new names. In July 2014, the International Astronomical Union launched a process for giving proper names to certain exoplanets and their host stars. However, they are listed under the latter convention on astronomical databases such as SIMBAD and the Extrasolar Planets Encyclopedia, with A becoming b, B becoming c, and C becoming d. They were discovered before the convention that extrasolar planets receive designations consisting of the star's name followed by lower-case Roman letters starting from 'b', in order of discovery, was established. On their discovery, the planets were designated PSR 1257+12 A, B, and C, ordered by increasing distance. Pulsars that were discovered before 1993 tend to retain their B names rather than use their J names, but all pulsars have a J name that provides more precise coordinates of its location in the sky. All new pulsars have a J indicating 2000.0 coordinates and also have declination including minutes. The modern convention prefixes the older numbers with a B meaning the coordinates are for the 1950.0 epoch.

The convention that arose for designating pulsars was that of using the letters PSR (Pulsating Source of Radio) followed by the pulsar's right ascension and degrees of declination.

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