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.
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AMAAsk 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. Example: The OpenDAO is having an AMA tomorrow at | ||
AlphaGenerally 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. | |
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BTCBitcoin invented by Satoshi Nakamoto | |
BUIDLBUIDL is the bastardised word for build. Build generally means to create infrastructure, create communities, projects, deliverables and ship software. It is inspired by HODL. | |
BountyStand 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. | |
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CCCommunity Call A weekly DAO wide call that give an update about what is happening in the DAO It can also mean Core contributor | |
CEXCentralised exchanges such as Coinbase, Gemini, Binance, FTX, etc. As opposed to DEX. | |
CTCrypto Twitter Crypto communities congregate on discord and crypto twitter. | |
Collab LandThis 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 : Received Tip Hey, Lipstick sent you 50 Banks | |
ContributorThis simply means anyone you help or contributes to a project, group or guild. In the DAO you can contribute to multiple project and guilds. | |
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DAODecentralized 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. | |
DEFIDecentralized Finance Decentralized finance offers financial instruments without relying on intermediaries such as brokerages, exchanges, or banks. Instead, it uses smart contracts on a blockchain | |
DEXDecentralised exchanges, such as Uniswap, sushiswap, balancer, matcha, etc. This is different from CEX. | |
DM | |
DYORDo Your Own Research | |
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EVMEthereum Virtual Machine Think of it like a 'single' computer that is running all the code. | |
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FOMOFear Of Missing Out eg: He bought BTC yesterday because it was MOONing. He FOMOed in! | |
FUDFear Uncertainty Doubt eg: There is a lot of FUB out there so please DYOR (Do Your Own Research) | |
First QuestPrograms that help in assimilating NM ( New Members) into the respective guilds. eg. Marketing Guild First Quest/ Education Guild First Quest | |
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GMGood Morning | |
GMIGonna Make It | |
GNGood Night | |
Gnosis SafeIs 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. | |
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HODLDerived 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. | |
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IRLIn Real Life IRL doctor: In real life I am a doctor. | |
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L2ELearn 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. | |
LFGLet's F*cking Go! To mean, let's totally do this thing. | |
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MOONPrice going up fast. eg. Check out this crypto! It is MOONing! | |
MVPMinimum Variable Product First version of a product/proposal which is can be review by the appropriate group. | |
MVV | |
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NFTNon-Fungible Token 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 | |
NGMINever Gonna Make It | |
NMNew Members | |
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OATIs 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. | |
OGOriginal Gangsters 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. | |
OKRObjectives and Key Results | |
Office HoursRefers to a meeting where people come together to talk, discuss and work through difficult parts of a project or course. | |
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P2EPlay 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. | |
PFPProfile Pic A pic that represents you in social media icons. | |
POAPProof 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"). | |
PONDERthink about it, dream about it. | |
Parcel.moneyIt is a treasury management software, a decentralised application (dApp). The site is here https://parcel.money/ A similar software is like gnosis safe. | |
Positive ExternalitiesBenefits the wider community or society. | |
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RuggedIt means you have been scammed or hacked. | |
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SOBOLA 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. https://sobol.io/d/banklessdao/structure?view=circles | |
SnapshotSnapshot 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. | |
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Talent CoordinatorsTalent 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. | |
Task HolderPerson assigned to complete a given task within a project. | |
The OpenDAOThe 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:
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TipWhen you tip, you are giving some of your Banks (Tips) to another member of the DAO to show appreciation or acknowledgement for work done, suggestions given, anything in fact! Tipping is done in the 'Hype-and-recognition' channel under General. Command: !tip @(discord name) (amount) Banks For ( write reason) !tip @honey 100 Banks for taking the notes for today's meeting. | |
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WAGMIWe're All Gonna Make It. | |
WorkgroupThis is a group of people working on a guild or DAO specific project. This is where the work is done to ensure that the project is successfully worked through to completion. | |
WorkshopAn opportunity to teach or learn from each other about different Web3 topics. | |
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dAppdApp or Decentralised application is a web3 type of software design. The backend database layer is the blockchain. The frontend display layer is typically a javascript based application, usually React.js or Vue.js. | |
droprefers to when a new NFT is ready for minting. Ie. The lunar NFT drop is coming soon. | |
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mintCreating a new NFT directly from the NFT contract. Typically when it first "drops". Usually minting can be considered high risk, especially for newbies. Recommend to buy from the secondary market instead to start. | |
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secondary marketmeans, buy from other users, as opposed to mint. Buy them on reputable marketplaces. | |
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vires in numerisIn latin "Strength in Numbers", is the bitcoin tagline. In the OpenDAO, it represents each of the OpenDAO $SOS token holder and participant. The answer we are looking for is "you". Yes, "you" is the answer. | |
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whitelistA whitelist is like a permission to mint the NFT project before the public has a chance to mint. | |