Pump and dump

What does Pump and dump means?

Pulling out of a project after pushing its price to the peak through deceit. In a “pump and dump,” someone or a group of people (usually Whales) put a large sum of money into an NFT project to boost its value. Then they pull out once it gets to the peak, resulting in an imminent crash in price.

Random Slangs

10k project

An NFT collection of approximately 10,000 avatars, which was arguably pioneered by the famous CryptoPunks collection. This term is also commonly used to refer to similar avatar projects instead of the actual number of NFTs in the collection.

Pre-mine

Generating a certain amount of cryptocurrency before its public release or launch. It’s a way to reward early supporters and founders of a crypto project.

Governance tokens

These are specialized tokens created by developers to oversee the outcome of a decentralized protocol. It defines token ownership. People that hold governance tokens have

Multisig

A shorthand for “multi-signature.” It refers to a wallet address that requires multiple signatories (private keys) to transfer funds successfully. This further strengthens wallet security,

IYKYK

Short for “If you know, you know”. It implies that a message, post or information that’d make sense to the insiders but not the general public.