Geeks Glossary

Here is a glossary of Terms you may find helpful while navigating DeFi and Geeks Ecosystem

Geeks Research Report

In November 2022, Developers United hired Geeks on a one-year contract to conduct Phenomenological Research in the Digital Realm of DeFi. Geeks quickly immersed himself in the culture, and began “Aping” into every “Shitcoin” his social circle was interested in. Over a period of a few months he acquired Cat NFTs, Dog NFTs, some Eagle NFTs, digital dog food, NFTs of naked women wearing Cowgirl hats, some tokens to support building toilets for impoverished Jamaicans, tokens that supported racing ducks, you name it. During the year Geeks was introduced to more than 100 new terms he was unfamiliar with prior to exploring DeFi. The table below outlines the 110 general Terms, their definitions can be found below.

DeFi General Terminology - 110 Terms

DeFi Advanced Terminology - 55 Terms

Terms

AMAs

Ask Me Anything
This is where project managers have a voice call with Lounges to describe their project to a group of investors and the investors ask them anything they want about the project.
They are a standard marketing activity
Ask me anything, but I might not answer everything

Ape - Noun/Verb

Somebody who invests without any knowledge of what they have bought

Bag

When buying a token, your percent holding of each individual token is referred to as a Bag
But all of your individual bags are in a big bag, and often, this is occurring across multiple or evens of wallets, commonly with the moon or dust philosophy attached to them all

Burns - Verb

To send digital assets to the Dead Address, which can be thought of as a one way ticket to a Black hole, once the assets go there, they can never come back
Burns are typically used for decreasing the supply of tokenized assets
- Burns are DeFi’s primary deflationary mechanism
- True burn is when it reduces the amount from the total supply
- Burning a token reduces its circulating supply

Buy Backs

Every Degens favorite use of funds
This is when a project manager uses the tax funds the project has generated to buy more tokens, and increase the price of the token.
Dev’s scam tactic to pump a project and then dump on the investors

Buy Back & Burns

Buy back the chart with the tax funds and then send the funds to the dead address to reduce supply, this is thought of as an even more bullish activity than buy backs, because it promises the investors that those tokens wont get dumped on them that were just bought

Callers

People who ask for too much money and do very little
People who you “Call” to give your project a quick Pump
- “I will post a copy/pasted message for your project into my online audience for a small fee of $500 - $2,000”

CEX's

A non-web3 based application where you can acquire digital resources from other people or a market maker from an exchange
All of the resources on a CEX are controlled by the person / group managing the exchange
You can commonly borrow resources through collateralized mechanisms

Chads - Noun

someone who sees the vision, and buys the bleeding edge, and holds long term.
Put the betterment of the community as a whole before themselves
Someone who is seen in a positive light by the overall community
Typically imagined as young, upper-class, urban males

Coins

Native Assets of a particular Blockchain, and are used for the Gas fees of that Chain
Typically, most of the liquidity pools on that Blockchain will use the Coin, as the pairing standard in the LP

Cold Wallets

Ledger that is a USB drive that can be plugged in and out of a computer to access your digital assets. Cold Wallets are the most secure way of storing digital assets and are considered the gold standard for safely storing your Digital resources

Degens - Noun/Verb

Indigenous Peoples of DeFi
A Degens favorite passtime is to Ape into Shitcoins
Buys in to projects to only make money with no care of the project and its goals
Invest on primal instinct, purely off vibes, no technical considerations at all

Dev

Digital Tribal Chief
Does not signify any sign of technical aptitude

Developer

Someone with the ability to write Code
- Solidity
- React
- Websites
- dApps etc.

DEX's

A Web3 based application you can access to exchange digital resources without needing to acquire them from another individual
No one person or one group owns the exchange where this occurs
On a Dex you can only trade resources that you own in your wallet

Diamond Hands

Someone who does not have the ability to sell
A Degen’s right of passage to poverty

Doge

Mineable asset with its own Blockchain

Dumps

When the price of an asset drops by a large percentage in a short period of time signifying a high degree of selling. This event is usually accompanied by a lot of FUD

FUD

Fear Uncertainty & Doubt
Fucking Useless Dev
The act of introducing Fear & uncertainty into a project,

Green Candles

The rectangular bars on a chart that signify appreciation, and the dominant form of male happiness in the 21st century

Hacks

A compromised digital asset
Occurs when a bad actor takes advantage of an exploit within a contract. And are able to access funds that were not theirs
An excuse to cover up a rug
Re-entrancy
Server hacks on TG bots were pretty bad in the last few weeks

HoneyPots

A token that can be bought, but not sold

Hot Wallets

Metamask, Coinbase, any wallet that exists on a mobile device or computer, and cannot be taken offline

Jeets - Noun/Verb (to jeet, jeeting)

A group of sellers who sell digital assets without thinking / fear of the lost funds
Short Term Investors
Don’t consider network fees or taxes in their profit calculations
Fear based investing decisions

KOLs

“Influencers” were getting a bad rap, so they unionized and rebranded to Key Opinion Leaders. These are folks who are the dominant Marketers in the space, they typically have audiences ranging from a few thousands to tens of thousands of people on X and in TG.
Their Principles, opinions and morals, are highly variable

Lambo

A Degen’s prize they buy themselves after reaching the Moon/Valhalla

Liquidity Pools (LP) - Noun

Large pools of money that we can swim in
Enables the ability of a token to be bought and sold
Resource Portal

LP Tokens - Noun

50/50 mix of whatever 2 resources are in the LP
They can be exchanged for those 2 resources at any time
It is common for LP tokens to be locked / burned to ensure investor safety
An LP token is like an impermanent partial key to the Banks vault.

Moon - Verb/Noun

Moon is the launch, the trajectory of the project in a straight up and out manner

Moon or Dust

A Degens dominant investing strategy where they do no management of their position, and wait for it to be worthless or worth 1000x more than they invested

NFTs

Non-Fungible Tokens
Each collection of NFTs is discretely different and cannot be counterfeitted
Each NFT is different and can store up to ~13/14 values (time, amounts, addresses) within the NFT itself and logic can be setup for modifying these any way you can imagine
They are immutable
The info within them can be changed based on the logic in the smart contract

NGMI

Not Gonna Make It
This is an acronym commonly used when someone sells a large amount of some tokens describing that they are not going to make it as the resource is likely going to appreciate in value more than the one they just traded it for

Paper Hands

Someone who does not have the ability to hold
They sell at the first sign of red candles

Private Rooms / Alpha Rooms

Small Digital Tribes, where people gather together to speculate on the value of digital resources, and build a strong of community

Pumps

The opposite of a Dump

Raiding

Coordinated shilling
Raiding is a combined effort of a group to bombard social media to get attention
Commonly this is when a large group of people are liking commenting, and reposting each others content to each others audiences

Red Candles

The opposite of Green Candles

RugPulls

When 100% of the LP Tokens are exchanged for all of the assets in the LP at one time, leaving nobody able to sell their tokens back to ETH
A coin/token created purely for deception to receive money from the buyer with no intention of allowing the buyer to sell (honey pot)

Safu

A word to define safe
Safe as Fuck

Scams

Deceitful tactics employed to generate profit within DeFi, commonly taking advantage of the anonymity of the space
Honeypots, and rugpulls are 2 examples of scams
Create a fake TG group and have people request an airdrop
Send people tokens / NFTs and if you interact with them they can drain your wallet
Wallet Drainers
Folks in DMs asking for money and then not send it back
People have links where they are pretending to be support for a project, and you input your private keys into the line and then lose all your money
People who pretend to be exchange agents looking for money for a listing
I had people in my DMs that I paid for marketing and calls
Identity fraud is a big thing in Telegram

Ser

A Scammers Salutation

Shib

An erc-20 Token
The second really popular dog after Doge

Shills / Shilling

Shilling is when a person or people try to promote a project/asset/that they may have an invested interest
Crypto’s equivalent of yelling on a crowded new york street
An archaic advertising technique employed by degens where they draft poorly worded messages on Telegram & X and post them everywhere they can.
Shilling is the individual event of creating content
Posting a message in a machine gun/ scatter gun aproach. getting it out to as many TG/X as possible

Tokens

Digital Resources traded on a Blockchain
Each collection of tokens is discretely different and cannot be counterfeitted
Special Privileges and access rights
Each token is the same
They are immutible

Vahalla

That is where we want to live and where we want to drive our Lambos

WAGMI

We’re All Gonna Make It
This is a common phrase that is used during moments of high volatility when the price of an asset is pushing through all time highs, and also in moments of solidarity when the chart is dumping
The euphoric nirvana of Degens as they feel themselves escaping their realities towards Valhalla

Wen

A Degen’s request for a deadline for a particular event / deliverable for a project
An impatient Degen’s favorite saying

Whales - Noun

Whales are individuals or a group of individuals with a large amount of money, and are typically thought of as the people responsible for moving the market.

Zombie Jeet - Noun

Somebody who sells for a loss without thinking
People don't really use this term

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