📚Web3 Glossary

	Meaning
Ape in	All-out buying into something without thinking
Apes	Members of the BAYC NFT project.
Art	Whatever media an NFT's metadata points to
ATH	All Time High - highest floor price an NFT project has seen
ATL	All Time Low - lowest floor price an NFT project has seen
BAYC	Bored Apes Yacht Club NFT project. Generally perceived as a sign of a successful NFT trader but DYOR before believing anyone.
Bridging (DeFi)	Moving tokens from one chain to another (eg. Bridging Ethereum from Cronos to Ethereum)
Bridging (NFT)	2022 trend of NFT projects bringing IRL benefits to holders instead of Airdrops and gachapons
Bsc	Binance smart chain by Binance
Buidling	Every project that continues building during a bear market. May also be used with sarcasm to refer to projects that continuously say "coming soon"
Builders	Literally anyone with a Web3 project
CC0	Refers to the Creative Commons license and typically found on free-mint no-promises no-Discord NFT projects
CEX	Centralised EXchange (eg. Binance, Crypto.com, FTX, etc)
Chain	A deployment of a blockchain (eg. Bitcoin is a chain, Ethereum is a chain, Cronos is a chain)
Coin	The native token of the chain (eg. on Ethereum chain, Ethereum is a coin, on Cronos chain, Cronos is a coin. On Ethereum chain, Cronos is a token. On Cronos chain, Ethereum is a token)
Cold wallet	Sometimes mistakenly used to describe hardware wallets. A cold wallet is one with very few transactions/approvals and is a vault for high-value long-hold assets
Creatives	Artists who draw NFT art
CRO	Cronos chain by Crypto.org
CT	Crypto Twitter - the niche of Twitter occupied by people into crypto
DeFi	Decentralised Finance
Degen	Literally short for degenerate. Used to describe people who ape into high-risk-high-reward projects. Also usable as a verb to describe the act of taking risky moves in Web3
Derivative (NFT)	Used to describe projects that are derived from a parent (often more successful) project. (eg. LAYC that is derived from BAYC and Lazy Lions, ODYC that is derived from BAYC and Okay Bears). Usually started by enthusiasts of the parent project's collection.
DEX	Decentralised EXchange (eg. Uniswap, Pancake Swap, Mad Meerkat Finance)
DLT	Distributed Ledger Technologies - the non-hyped government-used term for blockchain technologies
Diamond hands	People who hold and refuse to sell even when the price takes a big dip
Dump	Sudden decrease in value of the token. The act of "dumping" is selling your entire balance of a token.
DYOR	Do Your Own Research - mainly means the speaker does not want to take responsibility for his recommendations
ERC-20	Standard of smart contract implementation for an exchange-tradable token
ERC-721	Standard of smart contract implementation for an NFT
ERC-777	An improved ERC-20 that is not yet widely adopted
ERC-1155	Standard of smart contract implementation for an NFT which has editions (eg 1/11, 2/11)
ERC-1822	A smart contract implementation which allows for contract upgrading using a proxy contract
EVM	Ethereum-Virtual-Machine. Typically used as "EVM compatible" to describe L2 chains based on the Ethereum chain
Floor	The cheapest items on sale within an NFT collection
FP	Floor Price - the price of an NFT collection's floor
FUD	Fear, uncertainty, and doubt - used to describe the act of going into a project's chat and asking questions like "is this a rug?"
GM	Good morning. Use this instead of "hello". It's always morning in Web3
GN	Good night
Hodling	People who hold for a long time. Hodlers are often called Diamond Hands
Hot wallet	Actively used wallet. Typically a software wallet where majority of a user's transactions are made from
IL	Impermanent loss. This happens when you put your tokens into a Liquidity Pool token and one of the tokens go up/down significantly in value
IRL	In Real Life
L1	Layer 1 chains - eg. Bitcoin, Ethereum
L2	Layer 2 chains - eg. Cronos, Polygon, Arbitrum
LFG	Let's f**king go - usually followed by 🚀🚀🚀s
LFGM	LFG man. A more tempered approach to saying LFG
Liquidated	Term used in leverage trading where the price of the target token rises/falls beyond a certain % and your original number of tokens is returned to you
Liquidity	Amount of eth you have to spend. More formally, the amount of exchange-tradable assets that are immediately spendable (ie not lent/staked somewhere)
LP	Liquidity Pool.
Meta	Used to describe the "trend" in Web3 that starts from a trailblazer and then copied for months by lesser projects. Some examples: "1/1 generative art" started by CryptoPunks, "Anime art" (arguably) started by Azuki, "Pixel art" of 2022 started by Moonbirds, "Intense allowlisting" started by y00ts)
Metadata	A JSON object attached to an ERC-721 (aka NFT) token that has details on where the image/traits data is
Metamask	Browser extension/mobile app that everyone uses to access Web3
Metaverse	3D worlds which everyone in Web3 thinks everyone will be in eventually
MF/mfer	Literally "Motherf**ker", used to describe NFT degens and is meant in a positive manner
Mint	Buying an NFT directly from the creator
NFA	Not Financial Advice - see DYOR (typically used together)
NFT	Non-Fungible-Token - basically the pictures of monkeys
NGMI	Not Gonna Make It
Pamp	Sudden increase in value
Paperhands	People who either sold for a small profit or loss with the token price going up after
PFP	Profile Picture
PoA	Proof of Authority - consensus established by "authorized" nodes with verified owners (trust is based on an external authority)
PoS	Proof of Stake - consensus established by trusted nodes (trust is based on a threshold of tokens owned)
PoW	Proof of Work - all calculations done by multiple nodes. Consensus is reached via a quorum before transaction is added to the chain
Punks	Holders of the original CryptoPunk collection. Generally more respected than BAYC members.
Rekt	Took a big loss
Reveal	Some NFT projects use a placeholder image at mint which is then updated with the correct metadata after the art is ready. This adding of the metadata is known as a reveal
Rug	Short for rugpull. Used to describe any situation where a project noticeably stops building/removes liquidity with malicious intent resulting in the asset price dropping sharply
Scalping	Similar to swinging but instead is based on the practice of continuously selling overbought tokens and buying oversold tokens
Ser	Web3's version of sir
Sharding	Distribution of transaction storage that allows for quicker processing by a chain
Snipe	To watch for specific traits in an NFT collection and purchase them as soon as it hits a target price
Solidity	Language that smart contracts on EVM-compatible chains use primarily
Sweeping	The act of buying X number of items from the floor of an NFT collection
Swing	Buying and selling in a short period of time for profits
Szn	Season
TG	Telegram
Touch grass	Stepping out of the metaverse/getting outside your house
TP	Take profit (also see Dump)
TW	Twitter. Not used very often because it is interpreted as Trigger Warning by normies
Trader	Term for people who don't hold tokens for long and instead choose to take profits early and often
Traits	Categories of art included in an NFT's image representation
Trait groups	Groups of collectors who rally around a trait and make themselves exclusive so that they can talk about a higher floor price that the collection floor price
Vitalik	Founder of Ethereum
WAGMI	We are gonna make it
Wallet drainer	An NFT project whose smart contract once approved will send other valuable NFTs out of your wallet
Web3	Version 3 of the web which includes verifiable ownership as a native function
WL	Whitelist