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web3 lexicon
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| ama | acronym for "ask me anything". a type of live online event where people can ask questions to a host. |
| bear/bearish | describes a market sentiment characterized by an expectation of market decline. |
| bitcoin | a form of digital currency created largely by a decentralized network of computers. known as the blockchain. |
| block | a set of records. or blocks. linked together on a blockchain. |
| blockchain | a distributed ledger technology that is used to record data transactions between two or more parties. |
| btd & btfd | acronyms for "buy the dip" and "buy the f***ing dip”. these terms refer to buying an asset when its price is low. in anticipation of a future price increase. |
| bull/bullish | describes a market sentiment characterized by an expectation of market growth. |
| burn | the process of permanently destroying a cryptocurrency token. |
| crypto currencies | a form of digital currency created and maintained by computer networks. |
| dao | acronym for "decentralized autonomous organization". a type of organization that operates on a decentralized ledger. |
| dapp | acronym for "decentralized application". a type of software application that runs on a decentralized ledger. |
| defi | acronym for "decentralized finance". a type of financial services that operates on a decentralized ledger. |
| degen | slang for a person who takes excessive risks in the hope of making a large profit. |
| devs | short for developers. the individuals or teams responsible for the development of a cryptocurrency or blockchain related product. |
| dex | acronym for "decentralized exchange". a type of cryptocurrency exchange that operates without a central authority. |
| diamond hands | a term used to describe investors who hold onto their assets despite market volatility. |
| drop | the first sale of a token or nft. |
| dump | the process of selling a large amount of an asset in order to drive down its price. |
| dyor | acronym for "do your own research". a term used to encourage investors to do their own due diligence before investing. |
| ethereum | a decentralized open source blockchain network that enables the development of smart contracts and decentralized applications. |
| fees (gas) | a fee charged by a blockchain network in order to process a transaction. |
| flipping | the process of buying and selling an asset in a short space of time in order to make a profit. |
| floor prices | the lowest price an asset is expected to reach in the near future. |
| floor sweeping | the process of buying a large amount of an asset in order to drive up its price. |
| fomo | acronym for "fear of missing out". a term used to describe the anxiety experienced by investors who fear they may miss out on potential profits. |
| fud | acronym for "fear. uncertainty. and doubt". a term used to describe negative or misleading information spread to influence the market. |
| gm | acronym for "good morning". a term used by traders to check in and start the day. |
| hodl | acronym for “hold on to your dear life”. a term used to describe investors who choose to hold onto their assets despite market volatility. |
| ipfs | acronym for "interplanetary file system". a distributed file storage network that is used to store data on the blockchain. |
| layer 2 | a type of technology that allows blockchains to scale by offloading work to a second layer. |
| mempool | an organized queue where transactions are stored and sorted before being added to a newly created block. |
| minting | the process of creating new tokens and nft’s. |
| mods | short for moderators. the individuals or teams responsible for maintaining order on forums and other online discussion platforms. |
| moon / to the moon | a term used to describe an asset whose price is expected to increase dramatically in the near future. |
| multisig | acronym for "multisignature". a type of security protocol that requires multiple signatures from different people in order to access funds. |
| nfa | acronym for “no financial advice". a statement often used to emphasize that they are not liable for any financial decision the reader makes. |
| nft | acronym for “non-fungible token". a type of cryptocurrency token that represents a non-fungible asset. |
| ngmi | acronym for "not gonna make it". a term used to describe someone who is not going to become financially independent. |
| on/off-chain | a term used to describe transactions that take place either on or off the blockchain. |
| oracle | a third-party service that provides data to blockchain networks. |
| p2e | acronym for “play 2 earn". a new type of game running on blockchain technology. |
| paper hands | a term used to describe investors who are easily scared away from the market by volatility. |
| pfp | acronym for “profile picture". |
| primary sales | the first sale of a projects tokens or nft to the public. |
| proof of stake | a consensus mechanism used by some blockchain networks in which token holders are rewarded for validating new blocks. |
| proof of work | a consensus mechanism used by some blockchain networks in which miners are rewarded for validating new blocks. |
| pump | the process of increasing the price of an asset by buying a large amount of it. |
| rekt | slang for "wrecked". a term used to describe investors who have suffered significant losses. |
| royalties | a payment made to the creators of a product for each unit that is sold. |
| rug pull | the process of suddenly withdrawing liquidity from a decentralised exchange. this removes the ability to sell tokens. |
| secondary sales | all sales that take place after the primary sale. |
| shilling | the process of promoting a product or service in order to drive up its price. |
| smart contract | a self-executing contract that is written into code and stored on a blockchain. |
| stuck transaction | a transaction that is stuck in the mempool. unable to be processed by the blockchain. |
| wagmi | acronym for "we are going to make it". a term used to describe an optimistic outlook on a project. |
| wallet | a digital storage solution for cryptocurrency that allows users to send and receive funds. |
| web 3 | the third generation of the internet. characterized by the decentralization of services. |
| wen | acronym for “when”. often used in the context of an event or price increase. |
| whale | an individual or organization that holds a large amount of a particular cryptocurrency. |
| whitelist | short: “wl”. an exclusive list allowing people who fulfil specific criteria to participate in a mint or drop. |
| yield farming | the process of earning yield after providing liquidity to a decentralised exchange. |
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