### What is Degen (Base)?

Degen (Base), symbolised as DEGEN, is a cryptocurrency focused on the decentralised finance (DeFi) and meme coin categories. It operates as both a utility and a reward token within the decentralized community, specifically the Farcaster network. Originally launched as an ERC-20 token, it has shifted to operate on the Base Layer 2 and its proprietary Layer 3, known as the Degen Chain.

### How does Degen (Base) work?

Degen (Base) functions on its Layer 3 blockchain, the Degen Chain, which is built on the Base network. Utilizing Arbitrum's Orbit framework, Degen Chain is tailored for scalability and cost efficiency, employing AnyTrust for data availability and a unique self-sequencing mechanism for transaction management. It incorporates smart contracts for a range of functions, facilitating DeFi applications, and uses fraud proofs for state validation.

### What are the potential use cases for Degen (Base)?

Degen (Base) has diverse use cases within and outside the Base ecosystem, such as:
- **DeFi Applications**: Governance, staking, and earning opportunities through participation in DeFi protocols.
- **Gaming**: Serving as in-game currency for play-to-earn games.
- **Social Media**: Facilitating tipping and rewards within decentralized platforms like Farcaster.
- **Degen Chain**: Supports decentralized applications (dApps) involving DeFi, NFTs, and more, enhancing liquidity and community engagement through platforms like DegenSwap.

### What is the history of Degen (Base)?

Degen (Base) was conceptualised in 2022 and saw significant developments by 2024. Founded by Jacek Trociński, it gained traction as a community-driven project, with early growth facilitated through liquidity rewards and comprehensive exchange listings. Noteworthy milestones include partnerships with Syndicate and PancakeSwap, as well as being listed on major exchanges like Coinbase. The development of Degen Chain stands out as a technological evolution, resulting in rapid community growth and increased market presence.

Degen (Base)

Deposits and withdrawals are not currently available for this coin.

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