The Full site name appears at the top of the front page, in the browser's title bar, and also on the page tab when browsing with tabs.

You may create a summary of the site:

This summary appears in the left or right column of your site's front page. If you require visitors to register and log in before seeing the front page, remember that visitors will see this description after they have logged in. In that case, the front page summary can't be used to sell your site. Instead, it can instruct students on how to get started with your site; for example, Take the introduction course to learn how to use this site....

If your front page is visible to all visitors, you can use this summary to sell your site, tempt visitors to take a sample course, tell them what's inside, and so on.

Also, this summary appears in the metadata of the first page, so even if you decide to hide the box that displays the front page description, enter the description into the front page settings. It will make your site more findable on search engines.