2. The practice of updating a social networking status with a funny status, then a less funny status, and so on, for approximately 4-5 status, until the final status contains no laughter. A reference to the "Chain Lightning" spell found in many video and computer games around 1990s and the first decade of the 21st century, wherein a lightning bolt strikes one target, then a second with decreased damage, and so on.
2. I am chain statusing my jokes today, hoping that the 3rd and 4th jokes will just seem funnier by association.