Complex sentence: The star's name, TRAPPIST-1, denotes that it is the first star discovered by the TRAPPIST telescope to have transiting planets; the acronym pays homage to the Catholic Trappist religious order and to the high end Trappist beer it produces, primarily in Belgium.
Split into simpler sentences: The star's name, TRAPPIST-1, reflects that it is the first star discovered by the TRAPPIST telescope to have transiting planets. The acronym pays homage to the Catholic religious order of Trappists and to the Trappist beer it produces, primarily in Belgium.