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It is not Lemmy or kbin, it is the fediverse.
(kbin.social)
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While you're correct, it's just a clunky term. I think some other way to refer to the whole thing will probably come along soon, and in a few years, people will regard saying fediverse the same way we look back on people talking about "surfing the information superhighway" or whatever.
I mean, threadiverse works pretty well to describe this area specifically