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Web3 glossary

Dapp (Decentralized Application)

A decentralized application is built on a blockchain and can operate autonomously through the use of smart contracts.


A decentralized system is able to operate without the need of a centralized authority. This means that there is no single point of failure, which makes them more secure and gives power to the individuals that make up the decentralized system. It is also one of the biggest aims of most crypto protocols.

Decentralized Autonomous Organization (DAO)

A DAO is an organization that utilizes blockchain technology in order to distribute decision-making, management and ownership. There is no central entity and members aim to act in the best interests of the DAO. An example is a data DAO which would aim to store information they consider highly valuable and worth preserving.

Decentralized Exchange (DEX)

Decentralized Exchanges are crypto exchanges that rely on blockchain-based smart contracts instead of centralized entities. They are peer-to-peer platforms where users can exchange their assets with one another. This is done using non-custodial wallets which means that you retain full control of the assets you are trading. Some of the biggest DEXes include Uniswap, PancakeSwap and Kine Protocol.

Decentralized Finance (DeFi)

Decentralized Finance protocols are borderless, permissionless, trustless and peer-to-peer. They are challenging the status quo of the banking system by essentially eliminating the need for a middleman to facilitate transactions. DeFi protocols also eliminate the high fees that financial institutions such as banks charge for their facilities.

Decentralized Identity

A decentralized identity is a self-owned, independent identity that does not rely on a centralized entity to register or certify your identity. Instead, this is made possible through Decentralized Identifiers (DID). This allows users to control and manage their personally identifiable information.


A cryptocurrency is described as deflationary when its circulating supply is decreasing over time. This can happen through different mechanisms such as token burning, a fixed maximum supply or an endowment. Assuming demand remains constant, the decrease in supply will cause an increase in the value of the token.


Degen is short for “degenerate” but is used in two different ways in the crypto community. It is mainly used to refer to an individual that invests most of their money in speculative and shady crypto projects. However, it is also used by the crypto community to refer to themselves or others in an affectionate manner.


Delist refers to removing an NFT sale listing on a marketplace. 

Alternatively, it also refers to an exchange delisting a token or NFT from its platform.


A web2 platform that is commonly used to manage crypto communities. Through this, community members can chat with one another, ask questions, and stay up to date with their favorite projects.

If you’d like to be a part of our community, come say hi in our discord.

Distributed Ledger

In a distributed ledger, each node has a copy of the network’s ledger and has the ability to view, modify and verify the ledger. This relies on Distributed Ledger Technology instead of a centralized entity which allows transactions to be recorded by multiple nodes at the same time. A distributed ledger also prevents alteration of records, a risk of a centralized entity storing a ledger.


This is one of the most common terms used in the NFT space. It is used to refer to the release of a new NFT, usually a collection.


DYOR is an acronym for “Do Your Own Research”. It is an important reminder that you are responsible for the financial decisions you make. It is important to not rely on other people’s predictions, speculations or analyses. Instead, DYOR.