Understanding Web3 isn’t just about blockchain technology—it’s about mastering a whole new language. From "gm" to "WAGMI," the crypto community thrives on slang that reflects its culture, values, and humor. Whether you're a newcomer or a seasoned degen, this comprehensive Web3 slang glossary will help you decode the lingo, navigate conversations with confidence, and truly belong in the decentralized world.
What Is Web3 Slang?
Web3 slang is more than just abbreviations—it's a cultural code. These terms emerge from decentralized communities across Discord, Twitter (X), and Telegram, where speed, irony, and identity shape communication. Knowing the difference between diamond hands and paper hands, or understanding when someone says “prolly nothing” (they definitely mean something), can be the difference between FOMO and staying ahead of the curve.
A – Alphabet of Alpha
ABI (Application Binary Interface)
Similar to an API, ABI defines how software components interact at the binary level—crucial for calling functions in smart contracts.
Address
A unique identifier for wallets or smart contracts on a blockchain (e.g., 0x... on Ethereum).
Alpha
Insider knowledge or high-potential investment opportunities not yet public. "I got alpha on a new L2 project."
AMA / ATA (Ask Me Anything / Ask the Anything)
Public Q&A sessions hosted by projects. Often used interchangeably.
AMM (Automated Market Maker)
A core DeFi mechanism that enables trading without order books by using liquidity pools.
Ape
To invest heavily without caution—“I aped into that NFT drop.”
Arbitrage
Buying low on one platform and selling high on another—fast execution is key.
ATH / ATL (All Time High / All Time Low)
The highest or lowest price ever reached by an asset.
APR vs APY
- APR: Simple annual return rate.
- APY: Includes compounding interest—what most DeFi platforms advertise.
Approve
Authorizing a smart contract to spend a certain amount of your tokens. Always revoke unused approvals for security.
Airdrop
Free distribution of tokens to promote awareness or reward early users.
B – Bulls, Bears, and Beyond
Blockchain
A decentralized, immutable ledger recording transactions across a network.
Bridge
Connects two blockchains, allowing assets to move between them (e.g., moving ETH from Ethereum to Arbitrum).
Buy the F*ing Dip (BTFD)
Encouragement to buy when prices drop sharply.
BSC & BEP-20
- BSC: Binance Smart Chain, a fast, low-cost alternative to Ethereum.
- BEP-20: Token standard on BSC, similar to ERC-20.
Beacon Chain
The original PoS chain that merged with Ethereum in September 2022, marking the end of Proof-of-Work.
Burn
Permanently removing tokens from circulation to reduce supply.
Bull vs Bear Market
- Bull: Rising prices, optimism.
- Bear: Falling prices, pessimism.
- BearWhale: A wealthy investor betting against the market.
Bounty Program
Reward-based tasks for community members—common in early-stage projects.
BUIDL
A playful twist on “build,” encouraging long-term development over short-term speculation.
C – Culture & Contracts
CeFi vs DeFi
- CeFi: Centralized Finance (like traditional banks).
- DeFi: Decentralized Finance—non-custodial protocols like Uniswap or Aave.
CEX vs DEX
- CEX: Centralized Exchange (e.g., Binance).
- DEX: Decentralized Exchange (e.g., Uniswap).
Collateral
Assets pledged to secure a loan in DeFi lending protocols.
Contract Address
The unique address where a smart contract lives on-chain.
Chainlink
A leading decentralized oracle network feeding real-world data to smart contracts.
D – Decentralization Dictionary
DAO (Decentralized Autonomous Organization)
Community-governed organizations run by code and voting—no central authority.
Dapp (Decentralized Application)
Apps built on blockchain networks, often using smart contracts.
degen
Short for “degenerate”—someone who takes extreme risks in trading or investing.
Diamond Hands
Holding through volatility. Opposite of paper hands.
DID (Decentralized Identity)
Self-owned digital identity, not controlled by any central entity.
Discord
Primary communication hub for most Web3 projects.
DM (Direct Message)
Private messaging within platforms like Discord or Twitter.
DPoS (Delegated Proof of Stake)
A consensus mechanism where stakeholders vote for delegates to validate blocks.
DYOR (Do Your Own Research)
A reminder to verify claims before investing—critical in a space full of hype.
E – Ethereum & Ecosystem
EOA (Externally Owned Account)
A user-controlled wallet (not a smart contract).
ERC-20 / ERC-721
- ERC-20: Standard for fungible tokens (like $DAI).
- ERC-721: Standard for NFTs.
EVM (Ethereum Virtual Machine)
The runtime environment for smart contracts on Ethereum and EVM-compatible chains.
ENS (Ethereum Name Service)
Turns long addresses like 0x... into readable names like alice.eth.
F – Fear, FUD, and Floor Price
FT (Fungible Token)
Interchangeable tokens—each unit has identical value.
Floor Price
The lowest listed price for an NFT collection.
FOMO / FUD
- FOMO: Fear of missing out.
- FUD: Fear, uncertainty, doubt—often spread to manipulate markets.
👉 Stay ahead of market sentiment shifts and avoid emotional traps.
G – Greetings & Gas
gm / gn / gg
- gm: Good morning—used as a friendly greeting.
- gn: Good night.
- gg: Good game—often after intense trading sessions.
Gas & Gas Fee
Computational effort required to execute transactions. Paid in ETH on Ethereum.
Gwei
Unit of ETH: 1 Gwei = 0.000000001 ETH.
Gas War
When high demand causes gas prices to spike during popular mint events.
H – Holding & Hacks
HODL
Misspelled “hold”—now a meme symbolizing strong conviction during downturns.
Hot Wallet
Connected to the internet; convenient but less secure than cold wallets.
I – Initial Offerings & Identity
ICO / IEO / IDO / IFO / ILO
Different launch models:
- ICO: Public token sale.
- IEO: Exchange-hosted sale.
- IDO: Launched on a DEX.
- IFO: Farming-based launch.
- ILO: Focuses on liquidity provision.
K – Keys & KOLs
KYC (Know Your Customer)
Identity verification process—often avoided in DeFi for privacy reasons.
KOL (Key Opinion Leader)
Influencers who drive narratives in the crypto space.
L – Liquidity & Layering
Layer 1 vs Layer 2
- L1: Base blockchains (e.g., Ethereum, Bitcoin).
- L2: Scaling solutions built on top (e.g., Optimism, zkSync).
Liquidity Pool & LP Token
Pools of paired tokens that enable trading; providers receive LP tokens as proof.
M – Mining & Memes
MEV (Maximal Extractable Value)
Profits miners/validators gain by reordering transactions—can lead to sandwich attacks.
Metamask
Most popular browser wallet for interacting with Ethereum and dapps.
N – Newcomer Terms
NFA (Not Financial Advice)
Legal disclaimer used widely in crypto discussions.
NFT (Non-Fungible Token)
Unique digital asset stored on blockchain—used for art, identity, gaming items.
O – On-Chain Operations
OAT (On-Chain Achievement Token)
NFTs proving participation in events or milestones—like digital badges.
P – Protocols & Proof
PoS vs PoW
- PoS: Validators stake coins to secure the network.
- PoW: Miners solve puzzles using computational power.
R – Risks & Rewards
ReFi (Regenerative Finance)
Using DeFi to fund ecological and social impact projects.
Rug Pull
When developers abandon a project and drain funds—common in scam tokens.
S – Security & Smart Contracts
Sandwich Attack
Exploit where traders are front-run and back-run to maximize attacker profits.
T – Tokens & Trust
TVL (Total Value Locked)
Total value of assets deposited in a DeFi protocol—key metric for health.
W – Wallets & Web3
Web3.0
Decentralized internet where users own data and digital assets.
Y – Yield & Earnings
Yield Aggregator
Automates yield farming by compounding rewards—also called “gun pools.”
Z – Zero-Knowledge & ZKPs
zk-Rollups
Scalability solution using zero-knowledge proofs to bundle transactions off-chain while maintaining security on Ethereum.
Frequently Asked Questions
Q: What does 'gm' mean in Web3?
A: "gm" stands for "good morning" and is used as a friendly greeting in crypto communities—similar to saying “what’s up?” in Web2 culture.
Q: How is APY different from APR in DeFi?
A: APR is simple interest; APY includes compound interest. Most DeFi platforms display APY because it looks higher due to reinvestment.
Q: What’s the safest way to store crypto?
A: Use a hardware wallet (cold storage) for large amounts. Avoid keeping funds on exchanges long-term.
Q: What does 'WAGMI' mean?
A: "We Are Gonna Make It"—a positive mantra used during bear markets or tough times in crypto.
Q: Why do people say 'DYOR'?
A: To emphasize personal responsibility. With so much misinformation online, verifying information is crucial before investing.
Q: What is a rug pull?
A: A scam where developers abandon a project and steal investor funds—often seen with anonymous teams and locked liquidity scams.
👉 Learn how to spot red flags and protect your assets in DeFi.
This guide isn't just a dictionary—it's your passport into the heart of Web3 culture. As the ecosystem evolves, so will its language. Stay curious, stay cautious, and always keep learning.