Glossary of Web3 Terms
A list of interesting terms and DAO words. Many entries were copied from BanklessDAO Education Guild, contributed by Quietfox.
If you have a term that you don't understand, you can add a new entry, and request someone to define it.Click here to go to next resource: Library
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Ask Me Anything ( usually referencing meeting or online events). It usually accompanies a launch of new projects where presentations or talks are given to explain how it works. AMA usually allow audience and community members to interact with the people running a project or product.
The OpenDAO is having an AMA tomorrow at
Generally refers to valuable insights and privileged information. These information, if acted on in the right manner at the right time, can lead to a positive outcome for your wallet.
Bitcoin invented by Satoshi Nakamoto
BUIDL is the bastardised word for build.
Build generally means to create infrastructure, create communities, projects, deliverables and ship software.
It is inspired by HODL.
Stand alone projects with fixed prices for a defined task.
Each guild handles their own bounties and can be found on the guild's Bounty Board.
Bounty is paid when the objectives of that bounty are met.
A weekly DAO wide call that give an update about what is happening in the DAO
It can also mean Core contributor
Centralised exchanges such as Coinbase, Gemini, Binance, FTX, etc. As opposed to DEX.
Crypto communities congregate on discord and crypto twitter.
This is a bot that tell you that you have received a tip ( also look under Tipping) from a member.
Collab Land will send you a message to say how much your tip is and who it is from.
The message you will receive will be :
Hey, Lipstick sent you 50 Banks
This simply means anyone you help or contributes to a project, group or guild. In the DAO you can contribute to multiple project and guilds.
Decentralized Autonomous Organisation
Sometimes called a decentralized autonomous corporation, is an organization represented by rules encoded as a computer program that is transparent, controlled by the organization members and not influenced by a central government.
Decentralized finance offers financial instruments without relying on intermediaries such as brokerages, exchanges, or banks. Instead, it uses smart contracts on a blockchain
Decentralised exchanges, such as Uniswap, sushiswap, balancer, matcha, etc. This is different from CEX.
From another user.
Danger! This can be very very dangerous. Read more here.
Do Your Own Research
Ethereum Virtual Machine
Think of it like a 'single' computer that is running all the code.
Fear Of Missing Out
eg: He bought BTC yesterday because it was MOONing. He FOMOed in!
Fear Uncertainty Doubt
eg: There is a lot of FUB out there so please DYOR (Do Your Own Research)
Programs that help in assimilating NM ( New Members) into the respective guilds.
eg. Marketing Guild First Quest/ Education Guild First Quest
Gonna Make It
Is a multisignature smart contract wallet. It is a decentralised application (dApp).
It can be configured to require more than one signatories to do any signature request or ethereum transactions.
Derived from Holder. It describes people who hold on to the crypto they have and do not sell it.
Also known as Hold On for Dear Life
eg. He is a HODLer.
In Real Life
IRL doctor: In real life I am a doctor.
Learn to Earn
A method that is used as an incentive for people to attend a session that teaches you something.
Eg. The polygon workshop conducted by Fin4thepeople was an L2E workshop. People who completed the workshop earn some MATIC tokens.
Let's F*cking Go!
To mean, let's totally do this thing.
Price going up fast.
eg. Check out this crypto! It is MOONing!
Minimum Variable Product
First version of a product/proposal which is can be review by the appropriate group.
Mission Value Vision
A non-fungible token (NFT) is a non-interchangeable unit of data stored on a blockchain, a form of digital ledger, that can be sold and traded.
NFT can represent visual art, images, music, twitter post, short animation, videos, real estates etc
Never Gonna Make It
Is an NFT minted on the polygon chain by Project Galaxy. Read more about it at https://galaxy.eco/
It is typically given for certain actions and achievements.
Original Gangster (people who have been around the crypto scene since 2013/2014 BTC rush)
It can also be used to reference people who have been at the beginning of a project.
Objectives and Key Results
Refers to a meeting where people come together to talk, discuss and work through difficult parts of a project or course.
Play to Earn
Video games and virtual worlds that gamers play for crypto token rewards. Some games require an investment in tokens or NFTs, while others allow people to earn crypto by playing.
A pic that represents you in social media icons.
Proof Of Attendance Protocol are ERC-721 tokens that are used to give attendees a way to prove their record of life experiences. Think of this as the lanyard you take home from a conference, but recorded on the blockchain.
We want you to imagine a time when you got something really special and wanted to show it off to your friends. It may have been specific playing cards or video games, but the object granted you bragging rights.
How do you pronounce POAP?
General consensus is to pronounce it as Po-app (not "pope").
think about it, dream about it.
It is a treasury management software, a decentralised application (dApp).
The site is here https://parcel.money/
A similar software is like gnosis safe.
Benefits the wider community or society.
It means you have been scammed or hacked.
A Dynamic Map of Accountability for the Whole Organization.
It is a graphic and dynamic representation of the guilds, projects and the people connected with them.
Snapshot is a voting tool based on the IPFS decentralized storage system, used by many crypto projects to poll their user bases.
If you have a governance proposal that required DAO wide participation, you put the poll on Snapshot and get the community to vote on it.
Talent Coordinators are role holder who run the Office Hours for the guild. Each guild has their guild specific Talent Coordinators. They help new comers which their question, find out what their interest are and guide them on how to contribute to the DAO.
Person assigned to complete a given task within a project.
The OpenDAO $SOS was started after a generous airdrop of $SOS tokens based on OpenSea usage.
The OpenDAO vision:
To create a decentralized community of digital natives united by the common goals of: