What is Degen?

Ritu13

Degen, as the current leading Meme coin on the Base chain, has surpassed a market value of 1.7 billion US dollars. How to get started with the Degen ecosystem that dominated the Slay weekend? Biteye brings the following insights:

1. What is the Degen token?
2. Degen use cases?
3. What is Degen Chain?
4. How to enter the Degen ecosystem?

What is the Degen token?
- Source: Originating from the Meme concept, it emerged from the Degen channel of the decentralized social application @warpcast_ and is based on the Base chain. Its initial purpose was content tipping, and it is currently the flagship token of this ecosystem.
- Financing: Raised approximately 1.47 million US dollars in an angel round on February 21, with 1confirmation leading the investment.
- Market: Surged approximately 200% within the month, with a total market value exceeding 1.7 billion US dollars and a 24-hour trading volume exceeding 100 million US dollars.

Applications that support Degen payments and tipping:
@warpcast_Base chain's "Twitter"
@DrakulaappBase chain's "TikTok"
@ourZORA NFT platform
@perl_xyz skill-based prediction games
http://Bracket.Game tool for sports league voting
Farcaster is a protocol layer with a valuation of 1 billion US dollars, with participation from Paradigm and A16z. Warpcast is built on this.

What is Degen Chain?
- Source: Layer 3 launched on March 29 by DAO infrastructure service provider @syndicateio, built on Arbitrum Orbit, with the Base network as the settlement layer, and DA layer as AnyTrust.
- Features: Built specifically for the Degen community and $Degen, supporting community rewards, payments, games, etc., with low costs.
- TVL: Surpassed tens of millions of US dollars within two days, with $Degen as the native gas token of the chain.

How to enter Degen Chain trading?
4-step operation:

- Buy DEGEN
Check exchanges supported by Degen on CoinMarketCap;
- Add Degen Chain
1. Search for Degen Chain on http://chainlist.org to connect your wallet
2. Or customize it in MetaMask
· Network Name: Degen
· RPC: http://rpc.degen.tips
· Chain ID: 666666666
· Currency Symbol: DEGEN

Yamini003

NFTs are the latest craze among the younger generation now, so there must be something new with NFTs.

Iravan774

If everything is allowed to be represented by NFTs, won't their value depreciate more and more?

977Iti

I can't keep up with the times; I didn't realize NFTs could be invested in like this.