A mono audio, Auxiliary Input, Master Fader, or Instrument track controls volume, and, in some cases, panning, for a single channel of audio. A mono audio track uses a single voice. A mono track can also be routed to a multichannel output.
A stereo audio, Auxiliary Input, Master Fader, or Instrument track is a single channel strip for two channels of audio as a stereo pair. Stereo audio tracks use two voices.
A multichannel track is a single channel strip that plays multiple channels of audio (from 3 to 8 channels at a time). This allows Pro Tools to support multichannel mixing formats including LCRS, 5.1, 6.1, and others. Audio, Auxiliary Input, Master Fader, and Instrument tracks can all use any supported multichannel format.