COMMON WEB3 & CRYPTO SLANGS & TERM
PART 2
SIDECHAIN — It’s a detached blockchain linked to the main blockchain, using a 2-way peg.
SC — Smart Contract; this is a type of self-executing code deployed on the blockchain.
BURN — This activity removes a certain amount of cryptocurrency or NFTs from the circulating supply.
DD — Due Diligence… This is the act of conducting proper research before investing in any asset.
DYOR — Do Your Own Research; It’s the same as DD… Instead of listening to some persons telling you to invest in an asset, you also need to DYOR and make a good decision.
FUD — Fear Uncertainty and Doubt; This is some sort of Negative comment on an asset, which might not be true. People have different reasons why they FUD.
WAGMI — We All Gonna Make It; this word is commonly used by crypto investors/traders to symbolize a positive look at the market.
NGMI — Not Gonna Make it; This is used when an investor or company didn’t apply the right tactics to invest in an asset or business.
Hopium/Copium — Hope/Cope +Opium; this is the feeling of hope when asset values are down. Crypto folks sometimes use it to make fun of themselves as well.
ANON — this is a word used to address folks in the crypto space as almost everyone seems to be anonymous.
FREN — A short word for Friend in Crypto. Can be used to address someone you just met in a community in the crypto/web3 space.
HODL — Hold On For Dear Life; This is used when an investor has the intention to hold onto an asset for a long time. Hodlers don’t care about short-time price actions because they’re in for the long term.
DIAMOND HANDS — Similar to HODL. Diamond hands Hold regardless of an asset price movement.
PAPER HANDS — These folks sell their positions as soon as the price of an asset goes against their expectations.
MOONBOYS — This is used to represent those that are very enthusiastic about an asset surge in price.