# Terms to Know - Web3

**Published by:** [Toons Tribune](https://paragraph.com/@toons-tribune/)
**Published on:** 2022-08-09
**URL:** https://paragraph.com/@toons-tribune/terms-to-know-web3

## Content

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, cascad3

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