The crypto industry has been awash in acronyms for a long time. Popular Ones include “TVL” for “total value locked” in a network’s smart contracts and “DeFi” for “decentralized finance.” Then there is the infamous “WAGMI” or “we are going to make it,” which is often used as a rallying call on social media.
However, there is one acronym that will always be useful: DPS. Coined by Emin Gun Sirer, the founder of the Avalanche Blockchain, DPS stands for “Drama Per Second.” It is not defined in the same way as TPS (transactions per second), but can be loosely translated as “vibes.” DPS benefits from large promises from project founders, as well as the failure of technical solutions.
The crypto world saw a huge spike in DPS this summer, due to a combination of internal and external factors leading to a series of thefts and failures. This is a positive indicator that the market is maturing, and that other metrics will become more important one day.
