1. when a gay person goes straight out of desperation;
2. when a straight person goes gay out of desperation; however, more often than not the straight person is actually more gay than he/she admits to him/herself.
He had sex with that chick in an act of despergaytion.
"I swear Nathan, I'm so despergayte right now I'd even fuck that girl sober."
"Ladies, being at this lesbian bar as despergayte as I am may not end well..."