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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 |
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