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"No props" is a fairly new saying. It is a shorter way of saying "No problem/s" in a manner that expresses a willingness to help. It is not a very formal saying and is often used between casual friends.
Guy 1: Hey dude thanks for helping me move that junk in to storage.

Guy 2: No props man.

Guy 1 and Guy 2 High five.
by Lord Scrambles February 20, 2010
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