What is BUIDL?
The term “BUIDL” is used to urge crypto factions to proactively contribute to the development, evolution, and adoption of cryptocurrencies and blockchain technology. This could be as simple as utilizing decentralized applications (dApps), beta testing crypto projects and products, using smart contracts, playing blockchain games, using cryptocurrency wallets, or utilizing crypto as a payment method.
BUIDL is formed by purposely misspelling the word “build” (obviously), in the same vein as HODL. HODL is far more popular in the crypto space, originating from a typo by a crypto enthusiast in a Bitcoin forum in 2013 when referring to HOLDING Bitcoin. It is used to reference holding one’s digital assets for the long term.
The logic behind BUIDL is that a crypto enthusiast who believes in a project’s prospects needs to play their part and help advance the project, rather than holding an asset and waiting for its price to increase. The BUIDL movement argues that some projects genuinely rely on user participation to take off. It also compels users to learn, comprehend, and create, rather than spectate and speculate.
Though the origin of the term is still unclear, notable figures in the blockchain and crypto industry regularly use it to advocate for the BUIDLing of the entire ecosystem. Vitalik Buterin, Ethereum’s founder, used “BUIDL” in a 2018 tweet to cite Ethereum’s development. Binance founder Changpeng Zhao also uses the term to motivate the crypto community to contribute to the ecosystem, instead of just HODLing.