The world of cryptocurrency is full of abbreviations or idioms. The following are common words summarized by friends from the Binance Chinese community. I hope everyone will not be confused when surfing in Web3!
Behavioral class
Ser: immediate sir, teacher's honorific title
GM: Good Morning, good morning
GN: Good Night
HBU: How about you, how are you doing?
LTNS: Long time no see, long time no see
Lol: Laughing out loud means laughing very happily
DYOR: Do Your Own Research, find information and research by yourself, which means you need to do your own research before making any investment or transaction, be responsible for yourself, and donât trust others easily.
FAM: Abbreviation for Family, such as âWhatâs up, Fam!â It means how are you, brother?
Fren: Friend is the abbreviation of friend. Everyone in the circle is frens.
FOMO: Fear Of Missing Out, a nervous feeling of fear of missing out and always paying attention and preparing to enter the market
FUD: Fear, Uncertainty and Doubt, "fear, uncertainty, doubt" emotions
WAGMI: We All Gonna Make It, we will all succeed, a simple appeal, inspiring
PUA: Pick-up Artist, originally means "pick-up artist". It originally refers to the behavior of men who have undergone systematic learning, practice and continuous updating and improvement, and self-improvement of emotional intelligence. Later, it generally refers to the behavior of men who are able to ideologically control others and other people. Related behavior
HODL: The deformation of Hold, also the abbreviation of Hodl on for dear life (I wonât sell it until my death). Hodler means the holder.
BUIDL: A derivative term from Hodl, usually referring to participants in the cryptocurrency world who are constantly building new products regardless of the ups and downs of market trends, meaning builder.
Rug Pull: rug means small rug, so the action of pulling up the small rug can be interpreted as rolling up a bed, running away, or directly translated as RUG as running away.
LFG: Let's Fu*king Go, often used by advocates of an asset to express their hope that prices will rise.
There is also an alternative explanation:
Let's form group
Last free gif (The last free gif)
Love from grandma (love from grandma)
Let's feign greatness (Let's feign greatness)
Character type
OG: Original Gangster refers to a veteran figure in the crypto circle who entered the circle very early and gained respect.
PEP: Politically exposed person. Due to the higher risk of being exposed to bribery or money laundering, the system will identify and review them during KYC.
CZ: Changpeng Zhou, founder of Binance
First Sister: He Yi, co-founder of Binance, nicknamed âBitcoin First Sisterâ
SBF: Sam Bankman-Fried, Sam Bankman-Fried, founder of FTX
CT: Abbreviation of Crypto Twitter, meaning currency blogger
Degen: The abbreviation of Degenerate, generally used to refer to degenerate gamblers. For example, people who play BTC and ETH call people who buy other currencies degen. People who play non-mainstream coins call people who play high-risk projects degen. In the currency circle Also used to laugh at oneself
Role: Role, identity/identity group, refers to the tags added to community members in discord to empower permissions and classify management.
Activities
Airdrop: Airdrop, a new project marketing method, increases one's popularity by giving free gifts in the early stage.
AMA: Ask Me Anything, which means "Ask Me Anything", refers to activities held from time to time by project owners or exchange managers to answer user questions
(MMA: Mixed Martial Arts, mixed martial arts, usually mentioned when someone makes a mistake in AMA)
AMM: Automated Market Maker, automatic market maker, AMM is also called automated market maker, so-called market maker (MM), they are entities responsible for providing liquidity to the exchange and performing price operations at the same time
BP: Bounty Program abbreviation for bounty tasks. Complete relevant tasks assigned by the project party to obtain corresponding rewards.
CP: Consensus process, everyone formulates and decides on various proposals together
DM: Abbreviation of Direct Message, which means sending and receiving private messages directly on social networking sites.
Dutch Auction: Dutch auction, a price-reducing auction, an open price-reducing auction, is different from the usual ascending price auction. The auctioneer starts the auction at a relatively high price, and then gradually lowers the price until someone is willing to accept the auctioneer's price. The winner needs to announce the price for the last time.
DTC: Direct To Contract, sign a contract. This is generally used for winning. The project party directly writes the winning address into the contract, without the need to issue a whitelist or identity.
FCFS: First Come First Served
Transaction
A9: Refers to the 9-digit assets in the Account
ATH: All-Time High, the highest price in history
ATL: All-Time Low, the lowest price in history
Bullish: Bullish market is generally rising, a long-term upward trend
Bearis: Bear market, market conditions continue to decline, market sentiment is sluggish, and the market shows a general decline.
To The Moon: Describes the rising price of cryptocurrency and will rise to the moon like a rocket
JC: Pinyin JiuCai, leek, which can grow again after being cut repeatedly, describing a newbie in the currency circle
CMC: The abbreviation of CoinMarketCap, a website for checking currency and market capitalization data
CX: Pinyin ChuanXiao, pyramid scheme, a fraud method that relies on constantly developing downlines and the former eats the latter's funds
CEX: Centralized Exchange, centralized exchange, corresponding to DEX, such as Binance
DeFi: Decentralized Finance refers to financial products issued without relying on a centralized platform. Common examples: decentralized lending projects, compound, makerdao, etc.
DEX: Decentralized Exchange, a decentralized exchange, is an exchange based on blockchain. It does not store user funds and personal data on centralized servers, and institutions host transactions. Instead, it matches digital assets through smart contracts. Buyers and sellers, conducting peer-to-peer transactions
Market Cap: Market capitalization, the total value of a cryptocurrency
Maximum supply: The maximum supply of cryptocurrency. If the maximum supply is determined, the total supply will not change.
ICO: Initial Coin Offering refers to the first issuance of cryptocurrency or digital assets on the market. The assets issued are usually new tokens.
IEO: Initial Exchange Offering refers to the initial issuance of tokens on centralized exchanges such as Binance. Unlike ICO, IEO requires a trusted third party (centralized exchange) to operate.
IDO: Initial DEX Offering, refers to the issuance of tokens on a decentralized exchange (DEX), which is usually the same as an IEO except for the exchange hosting the fundraising process.
IPO: Initial Public Offering, generally refers to stocks
IFO: Initial Farm Offering is the process of issuing tokens through a decentralized exchange (DEX) and allowing users to purchase tokens through pre-sale. IFO provides pre-sale token investors with the opportunity to purchase tokens at a discount
IAO: Initial Airdrop Offering, which provides free tokens to users or individuals who are interested in this project for the first time
ROI: Return On Investment
OTC: Over-The-Counter, over-the-counter trading
P2P crypto: Peer to Peer trading Cryptocurrencies, peer-to-peer trading of cryptocurrencies
C2C: Customer-to-Customer exchange platform, user-to-user transactions on the platform
SCAM: Scams, there are endless scams in the currency circle, keep your eyes open and be vigilant
Technology category
HX: Hash Text, hash value
Seed Phrase: Mnemonic phrase, important credentials for wallet
Smart Contract: smart contract
POW: Proof Of Work, workload proof mechanism
POS: Proof of Stake, proof of equity mechanism
Cold/Hot Storage: Cold/Hot Storage
Fork: Fork, the blockchain generates a new branch, which can be divided into soft branch and hard branch.
KYC: Know Your Customer, identity verification, is a process for companies to know their customersâ identities.
AML: Anti-Money Laundering, anti-money laundering
BSN: Block-chain-based Service Network, Blockchain Service Network
Roadmap: Roadmap of the project
Whitepaper: White paper usually refers to authoritative information released by the project party to explain the project information.
Public Chain: Public chain, a completely open blockchain. Anyone can read it and anyone can initiate transactions. People all over the world can participate in maintenance work. Anyone can read and write data through transactions or mining.
Private Chain: A private chain, a blockchain where write permissions are only for a certain organization or a specific few objects. Read and write permissions can be open to the outside world or restricted to any extent.
TSS: Threshold Signature Scheme threshold signature
MPC: Multi-Party Computation Multi-party secure computation
Dapp: Decentralized Application Decentralized Application
Coin class
Token: Pass or commonly known as token
Stable Coin: Stable Coin
Gas Altcoin: Alternative coin, abbreviation for altcoin
Scamcoin/Shitcoin: air coin/scam coin/junk coin
Wallet: Wallet
SCW/A: Smart Contract Wallet/Account
Whale: In the field of cryptocurrency, "whale" refers to those investors who have huge funds to buy and sell large amounts of cryptocurrency, especially those investors who have enough funds to influence the market and cause large fluctuations in market prices, and " The whale is believed to be a Bitcoin holder with over $56 million worth of money. Usually, "whale" does not refer to an individual, but to some investment institutions and trading platforms.
PND: Pump and Dump. Pump means buying and selling to raise the price. Dump means selling at a high price to achieve arbitrage.
SAFU: Safe, meaning safe, derived from Bizonacciâs bold words on YouTube
Gas fee: Miner fee. Transactions need to be processed, calculated and confirmed by miners, and put on the blockchain. The gas fee is the handling fee for these miners. Some people may also say mining fees or fuel fees.
LP: Liquidity Provider, liquidity provider or liquidity pool, liquidity pool of decentralized exchange
EOA: Externally Owned Accounts External Accounts
CA: Contract Accounts
Cutting meat: Cutting off positions is something that a certain group of people often do. They sell even if they fall, fearing that the fall will be even worse.
Go long: buy low with the hope of selling high, generally bullish
Short selling: Bearish on the market outlook, buying short means short selling
NFT common categories
Utility: Empowerment
Reveal: Unblinding; Unboxing
PFP: profile picture, which is the usual community social avatar/photo post
OS: is the abbreviation of OpenSea, which is currently the largest nft secondary trading market.
NFT: Non-Fungible Token, a non-fungible token, is a crypto asset built on the blockchain
Blue-chip: Blue chip, NFT refers to the NFT project that has developed very successfully.
WL: English is the abbreviation of whitelist, and Chinese is called whitelist. Usually before an NFT project is officially launched, some people will be able to obtain wl through a lottery or other activities, and those who own wl can buy it at the original price during the pre-sale stage, without having to compete with everyone during the public sale.
Mint: Mint. Simply put, Mint is to transfer digital creations (such as files in jpg, gif and other formats) to the blockchain and cast them into unique NFTs.
FP: Floor Price is the lowest price at which an NFT project can be directly purchased on a secondary market exchange.
Diamond hands: Diamond hands, people who can hold an asset for a long time without selling it
Paper hands: People who hold an asset for a short period of time and sell it quickly
Thanks for reading! If there are any abbreviations not mentioned, please leave a messageđ
