Web3 Lingos to Help You Fit In (Part 2)

Getting familiar with blockchain slang

Gm! compadre

I hope you’re in a WAGMI mood today

In the previous #WeWe article, we touched on some of the slangs used in the web3/crypto space of which WAGMI is one of them

This is a continuation so let’s dive right in;

1. 🧍‍♀️ Normie

A normie in the context of web3 is someone who has little to no understanding about cryptocurrency or the blockchain.

If I were to guess, I’d say you reading this are a normie. Correct me if I’m wrong.

2. ✊ Hodl

…should’ve been “hold” but the word was unintentionally misspelled at a Bitcoin conference & so it became a real word in the crypto community.

Hodl is the term used to encourage holding on to a crypto investment for a long time instead of quickly selling it even during market instability.

Something like:

“I’m not selling my Bitcoin, I’ll hodl for 10 more years 🚀”

3. ⛽ Gas Fee/Gas

Can be likened to transaction fees on the blockchain, usually on Ethereum. It’s equivalent to the fees regular banks charge for carrying out a transaction, except in crypto, they call it “gas”.

“do you have enough gas to transfer the token to me?”

4. 🔷 Mint

To “mint a token” is to create/discover a new token on a blockchain. For reasons like rewards, governance or simply to support decentralized apps. Anybody can mint as long as they know how to go about it or they follow the specified blockchain guide.

Minting could also mean an NFT primary/first sale. It all depends on context.

“I decided to mint a limited edition NFT of my artwork to showcase my talent and potentially earn some money.”

5. ⚠ DYOR/NFA

Once you see these letters, just know the person is putting up a disclaimer.

DYOR means Do Your Own Research, & NFA means Not Financial Advice.

“This is NFA. You better DYOR before putting your money in any crypto investment”

6. 🤝 Fren

A cheeky word that represents “friend” in the crypto space.

7. 😨 FUD

Meaning ‘Fear, Uncertainty, Doubt’

FUD is one of the major reasons why people stay away from being involved in crypto-related stuff. FUD is why people are okay with being a ‘normie’. FUD is absolutely valid.

8. 💸 Liquidity

Liquidity refers to how easy it is for an asset (i.e. crypto or digital product) to be bought or sold in the market without a significant change in price.

Assets with high liquidity usually have more buyers than the ones with low liquidity. The former signifies price stability, while the latter signifies otherwise.

“how liquid is your NFT?”

9. 🏦 Buidl

Buidl is not a typo, it’s an intentionally misspelled word (unlike ‘Hodl’ which was unintentionally misspelled) that encourages developers & enthusiasts in the blockchain space to focus & contribute to building projects, apps, systems, etc. rather than just being there for the money.

Sidebar: I have no idea how Buidl is pronounced, but in my head, I just say it as it comes.

10. 🧻 Paperhands

An investor with paper hands is someone who is afraid to hodl. It’s mostly used in a derogatory manner to refer to people who “panic-sell” their investments at the first sign of a price drop or negative market sentiment.

It’s the opposite of the last point;

11. 💎 Diamond hands

This is someone who doesn’t mind investing or hodling for long term, through thick & thin.

Thanks for reading :)

PS: I made these pieces into a Medium “playlist” called #Web3Wednesdays. If you’d like to go through previous articles, they’re neatly packed for you in a List

PPS: ICYMI, check out last week’s article on Part 1 of Web3 slangs to help you fit in

PPPS: you can clap more than once on this article, or drop a comment if you have a web3 slang you know of.

Until next time, stay safe normie(?) 👋