Glossary of Terms
Airdrop – A distribution of currency, token or NFT to an audience
Altcoin – Any crypto token other than Bitcoin.
Apeing – buying shortly after project launch without due diligence
Arbitrage – buying and selling the same asset in different markets to take advantage of price differences between markets.
Bag – reference to the contents of an individual's crypto portfolio.
Bank Run – when most customers withdraw their cash from a bank / exchange out of insolvency fears.
Bear Market – when market prices fall by 20% or more from recent highs.
Blockchain – A distributed ledger system that enables cryptocurrency to be traded.
Bots – Automated software that can carry out tasks such as crypto trades.
Bull Run - A bull run is a period of time in the financial market during which the values of certain assets are constantly rising.
Burn / Burned - Cryptocurrency tokens or coins are burned when they are permanently removed from the circulating supply on purpose — as opposed to assets that are lost on accident
Circulating Supply – The best approximation of the number of coins that are circulating in the market and in the general public’s hands
Coin – Coins are cryptocurrencies that operate on their own blockchains and are independent of any other coins. A single unit of such cryptocurrency can also be called a coin.
Cold Storage – A wallet that is not connected to the internet
Contract - In traditional finance, a contract is a binding agreement between two parties. In cryptocurrencies, smart contracts execute functions on the blockchain.
Cryptocurrency - Cryptocurrencies are digital currencies that use cryptographic technologies to secure their operation.
CTZN - Refers to the Kudoe CTZN Pass NFT, which acts as a passport to unlock the full potential of the Kudoe ecosystem for Kudoe Nation Citizens. The pass offers benefits and perks to dedicated members but only when utilized in conjunction with Dogs of Elon Genesis collection NFTs.
DAO - DAO stands for Decentralized Autonomous Organization, a type of organization that operates through smart contracts on a blockchain network, without a central authority or control. Decisions are made through consensus mechanisms, such as voting by its members or token holders, and its bylaws and rules are transparent and open to inspection by anyone with access to the blockchain network.
DCA - “Dollar Cost Average”. Typically refers to buying more of a cryptocurrency as the price is falling to lower the average cost of each coin bought.
Decentralized - Decentralized organizations are those that do not rely on a single center of authority to enforce the rules and maintain operation.
DeFi - Decentralized Finance
Dumping - A collective market sell-off that occurs when large quantities of a particular cryptocurrency are sold in a short period of time
DYOR – Do Your Own Research
Economic Utility - refers to the total satisfaction that a person can derive from consuming a good or service.
ETH / Ether – A form of payment currency on the Ethereum blockchain.
Exchange – A cryptocurrency exchange is a digital marketplace that enables people and processes to trade digital assets for fiat money or other cryptocurrencies.
Fiat - Fiat currency is “legal tender” which is backed by a central government, such as the Federal Reserve or Reserve Bank, and has its own banking system.
Fiat On-Ramp - A fiat-on ramp is a way to get cryptocurrency from fiat, or regular money.
FOMO - "Fear of Missing Out."
FUD - “Fear, Uncertainty, Doubt”
FUDster - someone spreading FUD
Gas - Gas is the fee paid on the Ethereum network in return for using the platform’s computational power. Gas is consumed in small bits called gwei
Governance Token - A governance token can be used to vote on decisions that influence an ecosystem.
Gwei - Gwei is the denomination used for calculating gas fees and is 1 billionth the value of ETH. (1 Gwei = 0.000000001 ETH)
HODL - an acronym that stands for "hold on for dear life”.
Hosted Wallet - A wallet managed by a third-party service
Hot Storage - an online storage of private keys that enables quicker access to crypto transactions
Jeet - A person in crypto who sells at the first sign of a pullback. The opposite of a Diamond Hands Hodler
KAI - Kudoe Artificial Intelligence
KIP - A Kudoe Improvement Proposal (KIP) is an official proposal for governance in a DAO that is derived from either referendums or core proposals curated by the Kudoe team. All proposals use this naming convention and a dedicated ID number for transparency and consistency. KIPs can be curated directly by the Kudoe team and, when passed through governance voting, are binding.
Kudoe DAO - Kudoe DAO is a Decentralized Autonomous Organization that empowers KDOE token holders to govern their assets and ecosystem through consensus mechanisms, such as voting. It utilizes referendums and proposals, curated by the Kudoe team or token holders, and executes approved KIPs through Snapshot, a DAO platform that utilizes IPFS and the blockchain.
Large Cap - Well established projects with a market cap greater than $10Billion
Liquidity - an indicator of how easy it is to turn an asset into cash. (cash generally being the easiest store of value to exchange for goods or services)
Memecoin - crypto tokens created as a joke or meme and claim to offer huge gains to holders.
Metamask - An online digital wallet that allows users to “self manage” their own crypto and NFT assets.
Metaverse - Is a digital universe that contains aspects of the real world such as real-time interactions between users and enables the ownership of virtual assets.
Miners - Miners are users of a blockchain that are responsible for verifying transactions, creating new blocks and adding and verifying them on the blockchain.
Minting - The process of generating new coins or NFTs for circulation, ownership and trading.
Moon - The continuous upward trend of the price of a cryptocurrency
Multi-signature - An added layer of security that requires more than one key to authorise.
On-Chain - Transactions that are recorded on the blockchain and shared with all users of the blockchain are done “on-chain”.
Passive Income - value produced from investments that do not require the earner to be actively involved.
Portfolio - a collection of cryptocurrencies and/or NFTs held by an investing entity. Often referred to as their “bag”.
Pre-Sale - the sale of a cryptocurrency prior to it going to public sale.
Public Address - A public address is the cryptographic hash of a public key, allowing the user to use it as an address to request for payment.
Referendum - A referendum is a proposal suggested by token holders in a DAO that suggests a change or idea for governance. It is non-binding, subject to a screening process, and may be rejected if deemed harmful or malicious to the ecosystem.
Roadmap - A high level set of milestones / objectives that a project is planning to deliver as part of the service and/or solution that underpins the project's vision.
ROI - “Return on Investment”
Rug Pull - A scam where developers abandon a project and take their investors' money.
Seed Phrase - A 12-24 word list / phrase that users can use to regain access to a wallet that the password has been lost or compromised.
Shit coin - A coin that has no potential usage or value.
Slippage - The price difference between a requested transaction based on a quote and the final transaction value.
Smart Contract - A smart contract is a self-executing computer program with the terms of the buyer’s and seller’s agreement directly embedded into lines of code.
Snapshot - A snapshot in Web3 is the act of capturing the status of a blockchain at a specific point in time.
Stablecoin - A cryptocurrency with extremely low volatility, often used as a means of portfolio diversification. Examples include fiat-pegged cryptocurrency such as Tether and USDC.
Staking - Staking is locking up crypto assets to earn a return on your principal and help secure the blockchain and provide stability to the specific token volatility.
Take Profit - The act of selling cryptocurrency to secure profits.
Timelock - A condition of a wallet's access requirements that requires the passing of time to access the assets within the wallet.
Token - A digital unit designed to have utility and provide the holder access to a greater crypto economic system.
Tokenomics - Tokenomics, short for ‘token economics’ is an umbrella term used by cryptocurrency enthusiasts to describe how a token is used inside the project ecosystem, or how the token will follow a monetary policy as the project grows over time.
Total Supply - The total amount of coins in existence, minus the amount burned.
Volume - The amount of cryptocurrency that has traded over a 24 hour period.
Volatility - Refers to the proportionate size of upward and downward swings in price values. High volatility = High price variations over a specified period.
Whitelist - A whitelist in crypto is a list of approved participants for a particular event, typically an Initial Coin Offering or Pre-sale event, a new NFT mint, etc.
Whitepaper - A document released by a crypto project that gives investors technical information about its concept, and a roadmap for how it plans to grow and succeed
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