A Guide to Crypto & Web3 Slang and Acronyms

The world of Web3 and crypto has its own unique and often bewildering language. From inside jokes to technical shorthand, the slang and acronyms used on Crypto Twitter and in Discord can feel like a secret code to newcomers. Understanding this lexicon is not just about fitting in; it's about being able to follow the conversation and understand the culture of the decentralized internet.

This guide provides a comprehensive glossary of the most common and important slang terms and acronyms you'll encounter in the Web3 space.

Core Acronyms and Phrases

• WAGMI / NGMI:

  • WAGMI: Stands for "We're All Gonna Make It." It's a powerful and optimistic rallying cry, expressing a collective belief in the future success of Web3 and its participants.
  • NGMI: Stands for "Not Gonna Make It." It's a term of dismissal, often used for someone who makes a poor decision, doesn't understand a key concept, or is overly skeptical of the space.

• GM:

  • Meaning: Simply "Good Morning."
  • Significance: A daily ritual on Crypto Twitter. Saying "gm" is a simple way to signal your presence and participation in the global, 24/7 community. It's a small act of collective optimism.

• HODL:

  • Meaning: A typo of "hold." It means to hold onto your cryptocurrency for the long term, refusing to sell despite market volatility.
  • Origin: Originated from a famous, typo-ridden post on a Bitcoin forum in 2013 by a user who was drunkenly ranting about his decision not to sell during a crash. It now represents a long-term, conviction-based investment philosophy.

• FUD:

  • Meaning: Fear, Uncertainty, and Doubt.
  • Usage: Refers to negative news, rumors, or sentiment that is spread to intentionally cause the price of an asset to fall. Accusations of "spreading FUD" are common during market downturns.

• FOMO:

  • Meaning: Fear Of Missing Out.
  • Usage: The intense anxiety that you might miss out on a massive investment opportunity. FOMO often drives people to buy into a project at the peak of its hype, which can be a risky strategy.

• DYOR:

  • Meaning: Do Your Own Research.
  • Significance: This is the most important piece of advice in crypto. It's a disclaimer and a warning that you should not blindly trust what others say and are responsible for your own investment decisions.

• Apeing In:

  • Meaning: To invest a large amount of money into a new, often risky project with little research, driven by hype and FOMO.
  • Usage: "The art for that new NFT project looks sick, I'm going to ape in."

Technical and Financial Slang

• DeFi: Decentralized Finance. The ecosystem of financial applications for lending, borrowing, and trading built on blockchains.

• DEX: Decentralized Exchange. A peer-to-peer marketplace for trading crypto, like Uniswap.

• DAO: Decentralized Autonomous Organization. An internet-native organization owned and managed by its members, with rules enforced by smart contracts.

• Degen: Short for "degenerate." A term of endearment for a trader who engages in extremely high-risk, often reckless, investment strategies.

• TVL: Total Value Locked. The total amount of assets deposited in a DeFi protocol. A key metric for measuring a protocol's size and adoption.

• PFP: Profile Picture. Refers to a type of NFT collection (like Bored Ape Yacht Club) where the primary utility is for the owner to use the art as their online avatar.

• Gas: The fee required to perform a transaction on a blockchain like Ethereum.

• Shilling: To enthusiastically and often disingenuously promote a project you have a financial stake in.

• Rug Pull: A malicious scam where the developers of a project abandon it and run away with investors' funds.

• Diamond Hands / Paper Hands:

  • Diamond Hands (💎🙌): Someone who HODLs their assets through extreme price volatility, showing strong conviction.
  • Paper Hands (🧻🙌): Someone who panic-sells their assets at the first sign of a price drop.

This glossary is just the beginning. The language of crypto is constantly evolving, with new memes and terms being created every day. The best way to learn is to immerse yourself in the culture, listen to the conversations on Twitter and Discord, and don't be afraid to ask what something means.

1. What does WAGMI mean?

WAGMI stands for "We're All Gonna Make It." It's a popular, optimistic phrase in the crypto community expressing a shared belief in the future success of Web3. You can learn more in our full WAGMI/NGMI guide.

2. Why do people say 'gm' on Twitter?

"gm" simply means "Good Morning." It's a daily ritual in the Web3 community to signal presence, positivity, and a sense of global connection. Our guide to 'gm' explains the culture behind it.

3. What is the difference between FOMO and FUD?

FOMO stands for "Fear Of Missing Out," the anxiety that drives people to buy into a hyped project. FUD stands for "Fear, Uncertainty, and Doubt," which refers to negative sentiment spread to cause a project's price to drop.

4. What does it mean to be a 'degen'?

A 'degen' (short for degenerate) is a term for a crypto trader who takes on very high-risk investment strategies, often with a focus on experimental DeFi protocols. While it sounds negative, it's often used as a badge of honor among power users. Dive deeper in our explanation of a degen.

5. What is the most important acronym to know?

DYOR: "Do Your Own Research." This is the golden rule of crypto, reminding you to always investigate a project for yourself and never invest based on hype alone. Learn how to DYOR effectively.