Buy Degen (Base) (DEGEN)
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.
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Frequently Asked Questions (FAQs)
What is the current price of Degen (Base) (DEGEN)?
The Degen (Base) price is $0.01616885 AUD, representing a +1.11% from the day prior.
Where is the best place to buy Degen (Base) (DEGEN) in Australia?
The best place to buy Degen (Base) (DEGEN) in Australia is right here! Coinstash is one of Australia's leading and most trusted cryptocurrency exchanges. Built by investors, for investors - Coinstash offers a secure and user-friendly platform to buy and sell Degen (Base) (DEGEN) and over 1,000 other cryptocurrencies. Enjoy low fees, excellent customer support and access to an array of powerful trading tools and investing features.
What is the daily trading volume of Degen (Base) (DEGEN)?
The trading volume of Degen (Base) (DEGEN) is $40.6M AUD in the last 24hrs, representing a +1.11% from the day prior.
How can I buy Degen (Base) (DEGEN)?
Degen (Base) (DEGEN) can be purchased on Coinstash with AUD or by trading other cryptocurrencies for it. Coinstash offers various AUD deposit methods including bank transfers, POLi and PayID.
What is the market cap of Degen (Base) (DEGEN)?
The current market cap of Degen (Base) (DEGEN) is $278.2M AUD.
Can I convert Degen (Base) (DEGEN) to cash?
Yes - With Coinstash you can convert your Degen (Base) (DEGEN) to AUD instantly. You can also withdraw AUD to your Australian bank account instantly and for free with no withdrawal fees.
How many Degen (Base) (DEGEN) are there?
The current circulating supply of Degen (Base) (DEGEN) is 17.4B.
Is Coinstash a safe place to buy Degen (Base) (DEGEN) in Australia?
Yes - Coinstash is one of Australia's safest and most trusted platforms for buying and selling Degen (Base) (DEGEN) and other cryptocurrencies. Coinstash's industry-leading security practices provide the highest level of protection for your investments. Coinstash is licensed, compliant and AUSTRAC registered in Australia. You can learn more about our security practices.