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Rotten Ped was created in 2007.
A ped is an abbreviation for pedestrian and x is for crossing. So you probably saw ped x which is pedestrian crossing.
A word that can follow ped is pedigerous.
PED is Project Entropia Dollar, a real cash currency used in Entropia Uinverse and is equal to 0.10 USD (or 1 USU = 10 Ped)
bi = two
ped = having a foot
biped has two feet