CG’s life counter is 1 higher than before. Classic video game reference here.

Childish can do what he wants right now because he has an extra life so screw YOLO.

Holding is a phrase used for being in possession of drugs. He’s glad he’s got those drugs.

It’s methamphetamine, which Jenkins had an affinity for prior to and during the recording of this album.

Continuing off the previous line. Macklemore expands to say that in order to better yourself and be happy you must examine yourself in order to understand who you are.

Cam tells all the other rappers to keep doing their easy raps, while he does the harder stuff. Cam could be talking about technical rap skill since he later boasts about not having a hook in this song, or he could be referring to the content in most of his music, which he tries to take deeper than most mainstream rap.

Another word in some countries, mostly in Eastern Europe, for an emperor or king.

His joint is stuffed about this full.

Cam is making the point that he doesn’t need a hook (chorus) to take a breath or remember his lyrics and collect himself.

If you just catch fish with your hands you don’t need a line and hook!

In many other songs Cam talks about feelings more than just fucking women.
One example of this character comes on “Maggie”

“I wanna let you know I got feelings
I wanna take you out to get earrings
But I’m scared you don’t think that I’m legit”