Home Crypto Altcoins Degen Chain Debuts on Base as ‘Blockchain Equal of Las Vegas’

Degen Chain Debuts on Base as ‘Blockchain Equal of Las Vegas’

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Degen Chain Debuts on Base as ‘Blockchain Equal of Las Vegas’

One of the crucial energetic and fastest-growing communities within the Farcaster ecosystem is getting its personal layer-3 blockchain. The Degen chain was introduced right this moment by pseudonymous founder Jacek and infrastructure supplier Syndicate, debuting with its native fuel token DEGEN, touted as “one of many first group tokens with its personal L3.”

The Degen motion launched in January with a channel on Farcaster, a decentralized and blockchain-based social community on Base, the Ethereum layer-2 incubated by Coinbase. Ceaselessly positioned as a crypto-friendly different to Twitter, Ethereum co-founder Vitalik Buterin is a Farcaster fan, and the discharge of Farcaster Frames in February made it particularly engaging to software program builders.

Since token claims opened in January, 53,000 DEGEN holders have already revamped 553,000 transactions, Syndicate mentioned, largely tipped as a reward for posting high quality content material. A devoted Degen blockchain was the subsequent logical step.

$DEGEN token claims are formally dwell on https://t.co/x3IpFkxakT! After connecting your pockets, it is best to see a declare button the place the countdown timer to launch as soon as was. Due to everybody who has made this potential; actually respect all you degens! 🎉🚀

— Degen 🎩 (@degentokenbase) January 8, 2024

“It’s designed to be a vibrant playground for builders and a gateway for customers to securely experiment with their funds,” Jacek advised Decrypt. “Image it because the blockchain equal of Las Vegas—much less about playing, extra in regards to the thrill of exploration and enjoyable.”

With Degen chain, crypto builders can tinker with varied group administration and engagement fashions, together with tipping, group rewards, funds, and gaming.

Designed as an “extremely low price” layer-3, the Degen chain makes use of Arbitrum’s Orbit structure, its affiliated AnyTrust protocol to make sure knowledge availability, and the Ethereum layer-2 Base—launched by trade large Coinbase final fall—to settle transactions.

Syndicate cofounder Will Papper mentioned he was excited to work on a community-centric blockchain and supply “the entire instruments and infrastructure to not solely make the chain easy-to-use but additionally unlock new capabilities.”

“Layer 3s are the subsequent frontier for totally on-chain experiences, video games, and functions,” Papper mentioned. “We won’t wait to see the entire new issues that may solely be developed on an L3 with Degen chain.”

Syndicate can also be tapping its expertise with layer-3 infrastructure applied sciences starting from Conduit for transaction rollups, First rate for the bridge, and Airstack APIs. The corporate additionally unveiled its Body L3 for Farcaster builders final month. With the launch of Degen chain, the corporate is providing a free plan to permit builders to check drive the tech stack.

Jacek mentioned the purpose is to have enjoyable, to not take tokens to the moon.

“Whether or not returning with features or not, the secret’s the enriching expertise and connections made alongside the way in which,” he mentioned.

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