Etymology
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potlatch (n.)

1845, among some American native peoples, "a gift," from Chinook jargon pot-latch, "a gift," from Nootka (Wakashan) patshatl "giving, gift." Later (1865) in sense "An Indian feast, often lasting several days, given to the tribe by a member who aspires to the position of chief, and whose reputation is estimated by the number and value of the gifts distributed at the feast" [Century Dictionary, 1895]

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Definitions of potlatch

potlatch (n.)
a ceremonial feast held by some Indians of the northwestern coast of North America (as in celebrating a marriage or a new accession) in which the host gives gifts to tribesmen and others to display his superior wealth (sometimes, formerly, to his own impoverishment);
From wordnet.princeton.edu