Derived from 'wrecked.' Describes suffering a large financial loss from a liquidated leveraged trade, rug pull, exploit, or holding through a severe price decline. Used both seriously to describe genuine devastating losses and humorously as self-deprecating commentary. 'Getting rekt' is considered an almost inevitable rite of passage in crypto trading.
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Derived from 'wrecked.' Describes suffering a large financial loss from a liquidated leveraged trade, rug pull, exploit, or holding through a severe price decline. Used both seriously to describe genuine devastating losses and humorously as self-deprecating commentary. 'Getting rekt' is considered an almost inevitable rite of passage in crypto trading.
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Wallets, signing flows, dApps, and key management concepts.
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Rekt (rekt) Category: Web3 Definition: Derived from 'wrecked.' Describes suffering a large financial loss from a liquidated leveraged trade, rug pull, exploit, or holding through a severe price decline. Used both seriously to describe genuine devastating losses and humorously as self-deprecating commentary. 'Getting rekt' is considered an almost inevitable rite of passage in crypto trading. Related: Rug Pull, Degen
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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.
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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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.
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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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.
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).
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.
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.