Hashtag Web3 / Updated
A Guide to Crypto & Web3 Slang and Acronyms
Feeling lost in a sea of crypto slang? This guide explains the meaning of common Web3 acronyms and terms like WAGMI, NGMI, FUD, HODL, and more.
The world of Web3 and cryptocurrency possesses a distinct lexicon that can confuse newcomers. Understanding this terminology is essential for engaging in conversations and grasping the culture of the decentralized internet.
This guide presents a glossary of the most prevalent slang terms and acronyms you will encounter in the Web3 ecosystem.
Core Acronyms and Phrases
| Acronym | Meaning | Significance |
|---|---|---|
| WAGMI | We're All Gonna Make It | A motivational phrase indicating collective optimism for success in the Web3 community. |
| NGMI | Not Gonna Make It | A term used to dismiss individuals who make poor decisions or show skepticism towards the space. |
| GM | Good Morning | A customary greeting in the Crypto Twitter community that encourages a sense of belonging and positivity. |
| HODL | Hold On for Dear Life | Initially a misspelling of "hold," it describes a long-term investment strategy, especially during market fluctuations. |
| FUD | Fear, Uncertainty, and Doubt | Refers to negative information spread to manipulate asset prices. |
| FOMO | Fear Of Missing Out | The anxiety of missing lucrative investment opportunities, often resulting in impulsive buying. |
| DYOR | Do Your Own Research | A critical reminder to conduct personal research before making investment decisions. |
| Apeing In | Investing heavily into a new project without thorough research, influenced by hype and FOMO. |
Technical and Financial Slang
| Term | Definition |
|---|---|
| DeFi | Decentralized Finance; financial applications built on blockchain technologies for lending, borrowing, and trading. |
| DEX | Decentralized Exchange; a marketplace for peer-to-peer crypto trading, exemplified by platforms like Uniswap. |
| DAO | Decentralized Autonomous Organization; a member-managed organization governed by smart contracts. |
| Degen | A trader engaging in exceptionally high-risk investment strategies, often in a playful or ironic manner. |
| TVL | Total Value Locked; the aggregate value of assets held within a DeFi protocol, used to gauge its size and adoption. |
| PFP | Profile Picture; a category of NFTs, like those from the Bored Ape Yacht Club, used primarily as avatars. |
| Gas | Transaction fees on a blockchain such as Ethereum. |
| Shilling | Promoting a project in which you hold a financial interest, often with insincere enthusiasm. |
| Rug Pull | A scam where developers abandon a project and take off with investors' funds. |
| Diamond Hands / Paper Hands | Refers to the resilience or lack thereof in holding assets through market fluctuations; "Diamond Hands" retains assets, while "Paper Hands" sells at the first sign of trouble. |
The glossary represents only a fraction of the evolving language in crypto. New terms and memes emerge daily. Engaging with the community on Twitter and Discord allows you to learn and clarify unfamiliar terms.
