Based
Definition: A term used to describe someone who built on base and is making impact to bring the next billion onchain
Example: "That developer is so based, always pushing for decentralized solutions."
BM - Based Morning
Definition: A greeting used in the Base and on-chain communities, signifying a positive and confident start to the day, rooted in the principles of decentralization.
Example: "BM fam! Let's build something amazing today!"
DeFi
Definition: Short for "Decentralized Finance," referring to a movement that uses blockchain technology to recreate and improve traditional financial systems without intermediaries.
Example: "I'm all in on DeFi projects; they’re the future of finance."
LFG
Definition: An acronym for "Let's F*cking Go," used to express excitement and readiness, especially when something positive happens in the community.
Example: "Mainnet launch is today, LFG!"
HODL
Definition: Originally a typo of "hold," now widely adopted to mean holding onto your crypto assets despite market fluctuations, often with a long-term perspective.
Example: "The market is down, but I'm going to HODL my tokens."
GM - Good Morning
Definition: A greeting widely used in the crypto community to start the day with positivity and community spirit.
Example: "GM everyone! Ready for another day of building?"
WAGMI
Definition: Stands for "We’re All Gonna Make It," a rallying cry in the crypto community signifying optimism and belief in collective success.
Example: "No matter the setbacks, WAGMI!"
NGMI
Definition: Stands for "Not Gonna Make It," used to describe actions or attitudes that are seen as detrimental to long-term success in the crypto space.
Example: "Selling all your tokens during a dip? NGMI."
Alpha
Definition: Refers to valuable or insider information, often about upcoming projects, trends, or strategies that can provide a competitive edge.
Example: "Got some alpha on a new Base protocol launching soon."
Rug
Definition: Short for "Rug Pull," a scam where developers abandon a project and run away with investors' funds.
Example: "Always do your research to avoid getting rugged."
Airdrop
Definition: Free distribution of tokens to community members, often as a reward for participation or promotion.
Example: "Did you get the latest airdrop from that new Base project?"
DYOR
Definition: Acronym for "Do Your Own Research," a reminder that individuals should investigate projects or tokens before investing.
Example: "DYOR before you buy into any new Base-based token."
FOMO
Definition: Acronym for "Fear Of Missing Out," a common feeling in the crypto community when one is anxious about missing out on potential gains.
Example: "I bought some tokens because of FOMO, but now I'm not so sure."
Whale
Definition: Refers to an individual or entity that holds a large amount of a particular cryptocurrency, capable of influencing market prices.
Example: "A whale just moved a ton of ETH to an exchange; watch the market."
Gas
Definition: Refers to the fee required to execute a transaction on the Ethereum network or similar blockchain platforms.
Example: "Gas fees are high today, might wait to make my transaction."
YOLO
Definition: Acronym for "You Only Live Once," often used in the context of taking big risks, especially in investments.
Example: "I YOLO’d into that new Base project, hoping for the best!"
Rekt
Definition: A slang term for "wrecked," used to describe someone who has suffered a significant loss, often due to poor investment decisions.
Example: "I went all in on that token, and now I'm rekt."
Proof of Stake (PoS)
Definition: A consensus mechanism where validators are chosen based on the number of tokens they hold and are willing to "stake" as collateral.
Example: "Base is exploring Proof of Stake for greater efficiency."
Proof of Work (PoW)
Definition: A consensus mechanism that requires participants to perform computational work to validate transactions and create new blocks.
Example: "Bitcoin uses Proof of Work, but it’s energy-intensive."
Bagholder
Definition: Someone holding a large quantity of a cryptocurrency that has dropped significantly in value.
Example: "I’m a bagholder for that token, just waiting for it to bounce back."
Diamond Hands
Definition: Refers to someone who holds onto their crypto assets without selling, even during extreme market volatility. It signifies strong conviction in the long-term value of the asset.
Example: "Despite the market crash, I'm keeping my diamond hands."
Paper Hands
Definition: The opposite of "Diamond Hands," referring to someone who sells their assets quickly at the first sign of a market downturn.
Example: "He sold his tokens too early; definitely paper hands."
Ape
Definition: Slang for investing a large amount of money impulsively into a cryptocurrency or project without much research, often due to hype or FOMO.
Example: "I aped into that new Base token last night."
Dust
Definition: A very small amount of cryptocurrency, often leftover after trades, that is usually too small to sell.
Example: "I have some dust in my wallet that I can’t even trade."
Gwei
Definition: A denomination of Ether (ETH), equivalent to one billionth of an ETH. Gas prices on the Ethereum network are often measured in Gwei.
Example: "Gas fees are low today, just 20 Gwei per transaction."
FUD
Definition: Acronym for "Fear, Uncertainty, and Doubt," often spread intentionally to lower the price of a cryptocurrency or create panic.
Example: "Ignore the FUD; this project is solid."
Maxi
Definition: Short for "Maximalist," someone who believes strongly in one particular cryptocurrency or blockchain to the exclusion of others.
Example: "He's a Bitcoin maxi, thinks it's the only crypto worth holding."
Shill
Definition: The act of aggressively promoting a cryptocurrency or project, often for personal gain.
Example: "Be careful, that influencer is shilling a lot of coins lately."
Bridge
Definition: A tool that allows assets or data to be transferred from one blockchain to another.
Example: "I used a bridge to move my tokens from Ethereum to Base."
Yield Farming
Definition: The practice of staking or lending cryptocurrency assets to earn rewards or interest, often in the form of additional tokens.
Example: "Yield farming on Base has some of the best returns right now."
Layer 2 (L2)
Definition: A secondary framework or protocol built on top of a blockchain (Layer 1) to improve scalability and speed, often by handling transactions off-chain.
Example: "Base is an L2 solution that helps reduce Ethereum’s congestion."
Rug Pull
Definition: A type of scam where the developers of a project suddenly withdraw all funds and disappear, leaving investors with worthless tokens.
Example: "That DeFi project was a classic rug pull; everyone lost their money."
Liquidity Pool (LP)
Definition: A pool of tokens locked in a smart contract that provides liquidity for decentralized exchanges (DEXs) and allows for automated trading.
Example: "I added my tokens to a liquidity pool on Base for extra rewards."
DAO
Definition: Stands for "Decentralized Autonomous Organization," a type of organization governed by smart contracts and run by its community members through voting.
Example: "I’m a member of a DAO that funds on-chain education initiatives."
Tokenomics
Definition: The economics and incentive structures built around a cryptocurrency, including how tokens are distributed, used, and burned.
Example: "The tokenomics of this Base project look sustainable long-term."
Stake
Definition: To lock up your tokens in a protocol or smart contract to support the network and earn rewards, often used in Proof of Stake systems.
Example: "I’m staking my ETH on Base to earn interest."
Snapshot
Definition: A record of the state of a blockchain at a specific point in time, often used for airdrops or voting in DAOs.
Example: "Make sure you hold your tokens before the snapshot for the airdrop."
Degen
Definition: Short for "degenerate," often used to describe someone who takes high risks in the crypto space, particularly with speculative investments.
Example: "That guy is a total degen, always betting on the riskiest tokens."
Liquidity Mining
Definition: The process of earning rewards by providing liquidity to a protocol, usually in the form of tokens.
Example: "I’m earning extra tokens through liquidity mining on Base."
Cross-chain
Definition: Refers to the ability to transfer assets or data across different blockchain networks.
Example: "Base enables cross-chain transactions between Ethereum and other chains."
Oracle
Definition: A service or tool that provides real-world data to a blockchain, enabling smart contracts to interact with external information.
Example: "Oracles are crucial for integrating real-world events into on-chain applications."
NFT
Definition: Stands for "Non-Fungible Token," a unique digital asset that represents ownership of a specific item, piece of art, or other content on the blockchain.
Example: "I just minted a new NFT on Base; it’s one-of-a-kind."
Soft Fork
Definition: A backward-compatible update to a blockchain protocol that allows nodes that haven’t upgraded to still participate in the network.
Example: "The recent soft fork on Ethereum didn’t disrupt any of my transactions."
Hard Fork
Definition: A significant and non-backward-compatible change to a blockchain protocol, resulting in a split from the original chain and creating two separate chains.
Example: "The hard fork led to the creation of a new blockchain entirely."
Mint
Definition: The process of creating a new token or NFT on the blockchain.
Example: "I minted my first NFT on Base last week."
On-chain
Definition: Refers to actions, transactions, or activities that occur directly on a blockchain, making them immutable, transparent, and verifiable.
Example: "All voting is done on-chain to ensure transparency and trust."
Build on Base
Definition: A phrase commonly used to encourage or describe the development of decentralized applications (dApps), protocols, or tools on the Base Layer 2 blockchain.
Example: "We’re looking to build on Base because of its scalability and low transaction costs."
On-chain Governance
Definition: A system where decisions about the future of a blockchain or protocol are made by stakeholders through votes that are recorded on the blockchain.
Example: "Our DAO uses on-chain governance to make all major decisions."
Base Ecosystem
Definition: The community of developers, projects, and users that are building and interacting within the Base Layer 2 blockchain environment.
Example: "The Base ecosystem is growing rapidly, with more dApps launching every week."
On-chain Identity
Definition: A digital identity that is created, verified, and stored on a blockchain, allowing for secure, decentralized identification and reputation systems.
Example: "Your on-chain identity will allow you to access exclusive features on the Base network."