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Plain meaning

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Short for 'degenerate,' a self-adopted label in crypto culture for someone who pursues high-risk, high-reward strategies such as aping into unaudited protocols, trading leveraged perpetuals, farming new token launches, or minting speculative NFTs. Degen behavior often involves minimal research, high leverage, and concentration in volatile assets. On Solana, the term is associated with memecoin trading, new token launches on platforms like Pump.fun, and aggressive yield farming.

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Wallets, signing flows, dApps, and key management concepts.

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Degen (degen)
Category: Web3
Definition: Short for 'degenerate,' a self-adopted label in crypto culture for someone who pursues high-risk, high-reward strategies such as aping into unaudited protocols, trading leveraged perpetuals, farming new token launches, or minting speculative NFTs. Degen behavior often involves minimal research, high leverage, and concentration in volatile assets. On Solana, the term is associated with memecoin trading, new token launches on platforms like Pump.fun, and aggressive yield farming.
Related: FOMO (Fear Of Missing Out), Rug Pull, DeFi (Decentralized Finance)

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Concept graph

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Branch

FOMO (Fear Of Missing Out)

The anxiety-driven urge to buy a token or enter a position because its price is rising rapidly and others appear to be profiting. FOMO often leads to impulsive decisions such as buying at market peaks without proper research, chasing pumps, or over-allocating to a single asset. Recognizing FOMO as an emotional bias rather than a rational signal is a key skill for managing risk in crypto markets.

FUD (Fear, Uncertainty, and Doubt)DYOR (Do Your Own Research)

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Branch

Rug Pull

A crypto scam where project creators abandon a project after accumulating user funds, typically by draining liquidity pools, selling pre-minted tokens, or exploiting admin keys. Red flags: anonymous teams, unaudited contracts, concentrated token supply, locked liquidity absent, and excessive hype. Always verify program source, check authorities, and review audits before depositing.

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Branch

DeFi (Decentralized Finance)

Financial services built on blockchain smart contracts that operate without traditional intermediaries (banks, brokers). DeFi includes lending, borrowing, trading, insurance, and derivatives. Key properties: permissionless (anyone can participate), composable (protocols can be combined), transparent (open-source, auditable). Solana DeFi TVL has exceeded $5B, led by Jupiter, Raydium, Marinade, and Kamino.

AMM (Automated Market Maker)Lending Protocol

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Web3

FOMO (Fear Of Missing Out)

The anxiety-driven urge to buy a token or enter a position because its price is rising rapidly and others appear to be profiting. FOMO often leads to impulsive decisions such as buying at market peaks without proper research, chasing pumps, or over-allocating to a single asset. Recognizing FOMO as an emotional bias rather than a rational signal is a key skill for managing risk in crypto markets.

Open term

Web3

Rug Pull

A crypto scam where project creators abandon a project after accumulating user funds, typically by draining liquidity pools, selling pre-minted tokens, or exploiting admin keys. Red flags: anonymous teams, unaudited contracts, concentrated token supply, locked liquidity absent, and excessive hype. Always verify program source, check authorities, and review audits before depositing.

Open term

Web3

DeFi (Decentralized Finance)

Financial services built on blockchain smart contracts that operate without traditional intermediaries (banks, brokers). DeFi includes lending, borrowing, trading, insurance, and derivatives. Key properties: permissionless (anyone can participate), composable (protocols can be combined), transparent (open-source, auditable). Solana DeFi TVL has exceeded $5B, led by Jupiter, Raydium, Marinade, and Kamino.

Open term

Web3

Delist (NFT)

Removing an NFT from sale on a marketplace by canceling its listing. Mass delistings during bull markets signal that holders expect prices to rise further and are unwilling to sell at current levels. Coordinated delistings reduce available supply on marketplaces and can push floor prices higher. Delist rates are tracked as a sentiment indicator for NFT collections.

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Related terms

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Web3fomo

FOMO (Fear Of Missing Out)

The anxiety-driven urge to buy a token or enter a position because its price is rising rapidly and others appear to be profiting. FOMO often leads to impulsive decisions such as buying at market peaks without proper research, chasing pumps, or over-allocating to a single asset. Recognizing FOMO as an emotional bias rather than a rational signal is a key skill for managing risk in crypto markets.

Open term

Web3rug-pull

Rug Pull

A crypto scam where project creators abandon a project after accumulating user funds, typically by draining liquidity pools, selling pre-minted tokens, or exploiting admin keys. Red flags: anonymous teams, unaudited contracts, concentrated token supply, locked liquidity absent, and excessive hype. Always verify program source, check authorities, and review audits before depositing.

Open term

Web3defi-general

DeFi (Decentralized Finance)

Financial services built on blockchain smart contracts that operate without traditional intermediaries (banks, brokers). DeFi includes lending, borrowing, trading, insurance, and derivatives. Key properties: permissionless (anyone can participate), composable (protocols can be combined), transparent (open-source, auditable). Solana DeFi TVL has exceeded $5B, led by Jupiter, Raydium, Marinade, and Kamino.

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Web3

The vision of a decentralized internet built on blockchain technology, where users own their data, identity, and digital assets. Web1 was read-only (static pages), Web2 is read-write (platforms like social media), Web3 is read-write-own (permissionless, user-sovereign). Web3 applications use wallets instead of logins and smart contracts instead of centralized servers.

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Web3

dApp (Decentralized Application)

An application with its backend logic running on a blockchain as smart contracts rather than centralized servers. dApps typically have a traditional web frontend that interacts with on-chain programs via RPC. Users authenticate with wallets instead of username/password. Examples: Uniswap (Ethereum DEX), Jupiter (Solana DEX), Magic Eden (NFT marketplace).

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Web3

Wallet

Software or hardware that manages cryptographic keys and enables users to sign transactions, view balances, and interact with dApps. Hot wallets (Phantom, Solflare, Backpack) are internet-connected for convenience. Cold wallets (Ledger, Trezor) store keys offline for security. Wallets don't actually 'hold' tokens—they hold the private keys that control on-chain accounts.

Open term

Web3

Seed Phrase (Mnemonic)

A 12 or 24-word human-readable backup of a wallet's master private key, generated using BIP-39 standard. The seed phrase can deterministically regenerate all derived keypairs (BIP-44 derivation paths). Losing the seed phrase means permanently losing access to all associated accounts. Never share, photograph, or store seed phrases digitally in plain text.

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