Degen Dictionary: Volume 1
I know, I know… it can be a lot. The culture of web3 and crypto is vast and complex while simultaneously being dominated by memes and inside jokes.
You spend one day on cryptotwitter and you’ve already seen 100+ new terms — diamond hands, paper hands, FUD, GM, DYOR, wen lambo… I could go on.
Luckily the team here at Trader Joe is full of crypto language experts, so we’ve decided to breakdown all of these wild terms so that literally anyone could understand. Hence, the creation of our Degen Dictionary.
Whether you’ve already gone full degen or are just getting started in crypto, we can promise this will definitely be the most fun dictionary you’ve ever read 📘
Let’s begin…
Today’s Terms:
WAGMI
NGMI
Rug
WAGMI (an acronym for “we’re all gonna make it”)
An artifact from the bull run days, the term ‘WAGMI’ is often used to describe the euphoric feeling that comes when a bull market tricks investors into thinking they’ll easily become rich.
An acronym typically used in the NFT/Crypto space to build confidence/hope in the community.
𝘈𝘯𝘰𝘯 1: 𝘏𝘰𝘭𝘺 𝘴𝘩𝘪𝘵, $𝘑𝘖𝘌 𝘪𝘴 𝘮𝘰𝘰𝘯𝘪𝘯𝘨!
𝘈𝘯𝘰𝘯 2: 𝘸𝘢𝘨𝘮𝘪
NGMI (an acronym for “not gonna make it”)
a term reserved to designate a degen who:
…sells their bag because of a dip
…paperhands a great project before it pumps and misses out on the real gains
NGMI is also another name for a shitcoin
𝘈𝘯𝘰𝘯 1: 𝘕𝘪𝘤𝘦! 𝘑𝘶𝘴𝘵 𝘴𝘰𝘭𝘥 𝘮𝘺 𝘱𝘦𝘰𝘯 𝘕𝘍𝘛 𝘧𝘰𝘳 0.1 $𝘈𝘝𝘈𝘟 𝘱𝘳𝘰𝘧𝘪𝘵.
𝘈𝘯𝘰𝘯 2: 𝘸𝘰𝘸. 𝘶𝘳 𝘯𝘨𝘮𝘪
Rug (this one’s surprisingly not an acronym)
Inspired by the feeling of getting the floor ripped out from underneath you, a ‘rug’ is anytime a team completely bails on the degen investors who bet their livelihood on the project’s success
𝘈𝘯𝘰𝘯 1: Just invested in a new project, but then they deleted their twitter and discord
𝘈𝘯𝘰𝘯 2: Definitely just got rugged
BOOM! Easy. You just learned 3 crypto terms in a matter of minutes. You’re definitely gonna make it.
That’s it for Volume 1 of Degen Dictionary, but that was only just the start!
There’s still many more terms left to learn, and I can promise that WAGLI… we’re all gonna learn it. (I hope you get the reference)
Until next time!
Good job