# Terms to Know - Web3

By [Toons Tribune](https://paragraph.com/@toons-tribune) · 2022-08-09

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It’s always easier to understand an industry when you’re familiar with the jargon/terms being used on a daily basis. To help you navigate the space, here’s our list of terms to become familiar with!

GM - Good Morning

GN - Good Night

GA - Good Afternoon

PFP - Profile Picture, Picture for Proof

NFT - Non-Fungible Token

DYOR - Do Your Own Research

NFA - Not Financial Advice

2FA - 2 Factor Authentication

FUD - Fear, Uncertainty, Doubt

HODL - Hold On for Dear Life

GMI - Gonna Make It

WGMI - We Gonna Make It

WAGMI - We Are Gonna Make It

NGMI - Not Gonna Make It

Moon/Mooning - Indicates the price of something is going to skyrocket and go way up

Delist - The action of taking down a listing of an NFT for sale

Diamond Hands - Someone who holds and believes in a project long-term

Paper Hands - Someone who sells right after the mint or shortly thereafter

Whale - Individuals with high net worths and many high value NFT’s in their wallets

Secondary Market - After an NFT is minted, it can be bought or sold on secondary platforms such as OpenSea, LooksRare, or X2Y2.

Shilling - Promoting/Advertising

DD - Due Diligence

FOMO - Fear of Missing Out

COPE - Coping with Missing Out

Fren - Friend

Mint - The birth of an NFT on a particular blockchain, making it purchasable by the end user

Pre-Reveal: The short period of time after the mint where the metadata of NFT’s in a collection hasn’t been revealed yet

Reveal: Your NFT’s metadata is revealed and you find out what you got for your NFT

Metadata: Specific data that describes your NFT’s essential properties

Doxxed - Revealing the personal details of an individual, doxxing without consent is considered unethical

Undoxxed - Anonymous, individual uses a pseudonym

CT - Crypto Twitter

DeFi - Decentralized Finance

TradFi - Traditional Finance

Crypto - Cryptocurrency

Gas - Blockchain Network Transaction Fees

Gas Wars - When many people are trying to secure space in an upcoming block and as a result gas prices balloon. Can be mitigated with gas-friendly contracts like ERC721A

Gwei - What gas prices are denoted in; each gwei is equal to 0.000000001 ETH

Burn - When an NFT is burned, the NFT is removed from circulation and sent to a wallet owned by nobody, essentially destroying the token

Airdrop - Involves sending free tokens or coins to wallet addresses in order to raise awareness about a new virtual coin or token

P2E - Play To Earn

P2P - Peer to Peer

LP - Liquidity Pool

FAQ - Frequently Asked Questions

AMA - Ask Me Anything

Dev - Developer

WL/AL/ML - Whitelist/Allowlist/Mintlist

IRL/RL - In Real Life/Real Life

Probably Nothing - Definitely Something

IYKYK - If you know, you know

Rug/Rugpull - Founders abandon project/take capital

Ape In - Blindly invest into a project based on hype

Degen - Short for degenerate; Individuals who always “ape in”

KYC - Know Your Customer, a process where you must doxx yourself to gain approval

Alpha - Newly leaked or released information

SBT - Soulbound Token

Guide completed by: [ochofren](https://twitter.com/ochofren), [cascad3](https://twitter.com/cascad3art)

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*Originally published on [Toons Tribune](https://paragraph.com/@toons-tribune/terms-to-know-web3)*