Originated in Maryland, a slang term meaning "calm down". A synonym of chillax and chill.
Bob: WTF SOMEONE HACKED INTO MY WORLD OF WARCRAFT ACCOUNT *sob*
Jack: Dude, chillay! It's just a game!
Bob: *beats Jack with a rock to death*
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Manny: Oh My God! Bob just asked me out!!!!
Katy: Girl, chillay. He's just one of those Warcraft freaks....
Manny: *beats Katy with a rock to death*
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