DKP

Dragon kill points;

Definition
A term used to describe a reward system in guilds.

Examples

 * "I don't have enough dkp for that item."
 * "We get 10 dkp per hour."

Mechanics
DKP can be given for amount of time spent, amount of bosses killed, amount of foods or potions given to the guild, or any other type of participation. It is then spent either in a bidding war between members, or as a list system where the interested player with the most DKP is given the desired item.

There are many websites dedicated to the control of DKP, and sometimes they feature addons to let you view standings or edit things ingame.