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is referring to an ex that has a new boyfriend or girlfriend who is significantly steps down (uglier) on the attractiveness scale from yourself. Can be shortened to "ed".
Person 1: "Hey did u see C is in a relationship with K?"
Person 2: "Haha yeh but thats a total epic downgrade, i think its funny!"
Person 1: "ha yeh your totally right"
by PennyEyes January 25, 2010