Home / Glossary / DeFi Degens

DeFi Degens

Crypto Glossary: DeFi Degens

DeFi Degens: A DeFi Degen, short for decentralized finance degenerate, refers to a crypto trader characterized by a penchant for engaging in high-risk and speculative ventures within the decentralized finance (DeFi) space. These traders exhibit a distinct interest in unconventional, often unaudited projects, and are known for their focus on meme tokens and projects with a humorous or niche appeal.


  • Risky Ventures: DeFi Degens are attracted to risky and experimental crypto projects, often pushing the boundaries of traditional financial norms. They willingly explore projects that may be considered unconventional or even joke projects.
  • Niche and Unaudited: Their interest lies in projects that are niche, unaudited, and operate within a regulatory gray area. These projects often have cryptic rules that may be challenging for those outside the development community to comprehend.
  • Pump and Dump Association: DeFi Degens are closely associated with the pump and dump trend, participating in schemes where certain tokens are hyped in private forums and channels, only to be subsequently abandoned or deliberately collapsed after profits have been secured.

DeFi Degen Culture:

  • Community Engagement: DeFi Degens form a subculture within the broader DeFi community. They frequently gather in private Telegram and Discord channels to share information, discuss potential projects, and, in some cases, simply for entertainment.
  • Innovative Projects: Some DeFi Degens view decentralized finance as an opportunity to experiment with projects that blur the lines between financial instruments and massive multiplayer online games. These projects, like Yam, often involve intricate tokenomics and rules.
  • Risk and Reward Mentality: While participants who lack a deep understanding of these projects may incur losses, DeFi Degens view their activities as both fun and profitable. They see it as a way to push the limits of crypto code and challenge the conventional norms of the crypto community.

Crypto Degen (Broader Term):

  • A broader term encompassing crypto enthusiasts who frequently engage in highly speculative and risky trades. It’s derived from the word ‘degenerate’ but is embraced within the crypto community as a badge of honor, highlighting a passion for the space and a willingness to take risks.

Related Terms

Zero Knowledge Proof

Zero-Knowledge Proof (ZKP): A cryptographic method allowing an entity to prove the truth of a statement without revealing any additional information.

Read More »


Year to Date (YTD) in the realm of cryptocurrency refers to a vital metric that assesses the performance of a digital asset within a specific calendar year, spanning from January 1st to the current date.

Read More »

Yield Farming

Yield Farming is an investment strategy in the realm of decentralized finance (DeFi) where cryptocurrency holders provide their assets to a DeFi protocol to earn returns, often in the form of additional tokens.

Read More »