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Glossary of trenching terms

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From Trenchwiki, the trench encyclopedia

Glossary of trenching terms lists slang used in the trenches, the early, high-risk market for new memecoins, chiefly on Solana launchpads such as pump.fun.[1] Much of it is older crypto and NFT slang; some terms name on-chain mechanics specific to Solana launches.[2] Only terms found in reputable coverage or official documentation are listed.

A–B

  • Alpha: insider or valuable information about a coin or trade.[2][1]
  • Ape (or ape in): to buy impulsively, with little research.[2][1]
  • Bags: a trader's holdings of a token, usually a large amount.[2][1]
  • Bonding curve: the formula-priced launch contract that sells a new token before it has a pool; see Bonding curve.
  • Bundle: buying at launch from several wallets at once, which makes insider demand look like independent buying; see Bundling.[1]

C–F

  • Cabal: insiders who coordinate to promote particular tokens, from the word for a secret political faction.[3]
  • Copytrade: to mirror another wallet's buys and sells, usually by bot; see Copy trading.
  • CTO: community takeover, holders reviving a coin its creator abandoned; see Community takeover.[1]
  • Degen: short for degenerate; a high-risk trader, often used of oneself.[2][1]
  • Diamond hands: holding through large price swings.[2]
  • DYOR: "do your own research", a disclaimer often paired with NFA ("not financial advice").[2]
  • Fair launch: a release with no presale or insider allocation.[1]
  • FOMO / FUD: fear of missing out; fear, uncertainty and doubt.[1][2]
  • Freeze authority: an address able to freeze holders' token accounts, which can be used to build a honeypot; see Mint authority.[5]

G–L

  • Gem: an undervalued coin found before the crowd.[1]
  • Graduation: a token completing its bonding curve and moving to a standard exchange pool.[1][4]
  • Honeypot: a token that can be bought but not sold; see Honeypot.[5]
  • Jeet: a derisive term for a trader who sells too early or panic-sells.[1]
  • KOL: key opinion leader, an influencer whose calls move prices; see KOL.
  • LFG: an exclamation used to hype or congratulate.[2]
  • Liquidity: the depth of a token's pool; a sale large relative to the pool moves the price sharply.[8]
  • LP burn: destroying a pool's liquidity-provider tokens so the liquidity cannot be withdrawn; pump.fun burns them when a coin migrates.[4] See Liquidity pool.

M–R

  • MEV: maximal extractable value, profit taken by ordering trades around other users' pending transactions.[7]
  • Migration: the move of a completed bonding curve's liquidity into an exchange pool; on pump.fun the pool is PumpSwap, and anyone may trigger it.[4]
  • Mint authority: an address able to create new supply; launchpads such as pump.fun and LetsBonk set it to null.[5] See Mint authority.
  • Moon: a sharp price rise; "wen moon" asks when one will come.[1][2]
  • NGMI: "not gonna make it", dismissive of a person or project.[2]
  • Paper hands: selling quickly, often in panic, and missing later gains.[2]
  • Priority fee: an optional Solana fee, priced per compute unit, that makes the current leader more likely to schedule a transaction first; it goes entirely to the validator.[6]
  • Pump and dump: inflating a price with hype, then selling into it; see Pump and dump.
  • Rug (or rug pull): creators pulling liquidity or dumping holdings, collapsing the price; see Rug pull.[1][2]

S–Z

  • Sandwich: an MEV attack in which a bot trades just before and just after a user's swap, profiting from the price move the swap causes.[7]
  • Send it: to make a risky buy.[1]
  • Slippage: the gap between the quoted price and the price a trade actually fills at, large when the pool is shallow.[8]
  • Snipe: to buy in a token's first moments, usually by bot; the buyers are snipers. See Sniping.[1]
  • Stimmy: money handed to traders, from "stimulus payment".[1]
  • Trenches: the chaotic early stage of memecoin trading; its traders are trenchers.[1]
  • Underwater: holding a token at a loss.[1]
  • WAGMI: "we're all gonna make it", a community catchphrase.[2]
  • Wash trading: one party buying and selling to itself to fake volume; see Wash trading.
  • Wen: "when", as in "wen moon"; the memecoin Wen takes its name from it.[2]
  • Whale: a holder large enough to move a token's price.[1]

See also[edit]

References[edit]

  1. ^ What are "the trenches"? A guide to Solana memecoin culture and slang, crypto.news, 2026-06-29
  2. ^ GM, WAGMI, GN: Decrypt's Ultimate Guide to Bitcoin and NFT Slang, Decrypt, 2022-05-08
  3. ^ Meme Coin Airdrops $10,000 Worth of Tokens to Crypto Influencers—Most Instantly Sell, Decrypt, 2024-08-28
  4. ^ Pump program README, pump.fun (GitHub), n.d.
  5. ^ How to Find Solana Mint, Freeze, and Update Authority, Helius, n.d.
  6. ^ Transaction fees, Solana documentation, n.d.
  7. ^ Solana client Jito Labs axes mempool function following increase in MEV attacks, The Block, 2024-03-09
  8. ^ PEPE Holder Turns $250 into $1M in Four Days. But Can They Sell It?, Decrypt, 2023-04-19
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