The universal greeting of Web3, whether it’s morning or not. Used by market "bears" to dissuade others from investing. The danger with FOMO is that it can cause well-intentioned users to make ill-advised investments.įUD - “Fear, uncertainty, and doubt”. FOMO is the uncomfortable sensation of sitting on the sidelines while everyone else is seeing big returns. ( Image source)įOMO - “Fear of missing out”. DYOR is usually employed as a caveat to commentary that shouldn't be construed as financial advice.įlip - A strategy employed by short-term holders to buy an asset and sell it quickly for profit.įlippening - The moment Ethereum potentially surpasses Bitcoin as the world’s largest cryptocurrency in terms of market capitalization. Used to warn fellow community members that they should always do their due diligence before investing in a cryptocurrency or NFT collection. ( Image source)ĭust - The small amount of crypto leftover in a wallet after a completed transaction.ĭYOR - “Do your own research”. DeFi uses distributed blockchain technology for banking services accessible to anyone with an internet connection.ĭev(s) - Short for developer(s), the individual or team behind a specific cryptocurrency or NFT project.ĭiamond hands - Someone who staunchly holds onto their cryptocurrency, despite market conditions and the temptation to sell. To purchase a cryptocurrency when its price drops.ĭeFi - Abbreviation for decentralized finance. Curiously, there is no such abbreviation for all time low.īagholder - An investor who is holding an asset that has significantly depreciated in value.īTD - “Buy the dip”. A milestone in a token’s trajectory when it reaches its highest price yet. Popular altcoins include Ethereum, Binance Coin, and Solana.ĪTH - “All time high”. Here are some of the most common terms used in Web3:Īltcoin - Any cryptocurrency other than Bitcoin. These words exist for a reason, and they provide a glimpse into the way this new and fast-changing landscape is developing. Rather than shy from terms like “WAGMI” and “flippening”, newcomers can embrace them as a fun way to learn. But really it’s just a reflection of the fact that Web3 has its own culture, and that culture is partly expressed through its vocabulary.
To “normies” (definition below), this may seem like a way to keep people out-a means of exclusion. The difficulty people have coming to grips with Web3 is often exacerbated by the fact that there’s quite a lot of jargon. Corey Barchat also contributed to this article.
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