Latest Degen News You Should Know About

 

Degen’ is a slang term derived from the word ‘degenerate’, often used in the cryptocurrency space to refer to individuals who engage in high-risk and speculative trading.

 


It is also another word for layer-3 blockchain!

 

Degen is a recently launched layer-3 blockchain focusing on community engagement and rewards. It allows users to reward quality content with DEGEN tokens on the ‘Farcaster’ platform. It aims to provide a more efficient and interconnected blockchain ecosystem.

 

Let us see the key takeaways before diving into the latest degen news.

 

●        Degen Chain is a Layer 3 blockchain built on Base, an Ethereum Layer 2 solution, for developing crypto projects for its community.

●        The main features of the Degen Chain include low transaction fees, a community-centric approach, and its native token, DEGEN.

●        DEGEN token started as a meme coin but is now a community token of the Warpcast decentralised social media platform built on Farcaster.

●        DEGEN tokenomics allocates 70% of the total token supply to its community.

 

Latest Degen news by Block Matra

 

  1. Degen Chain, a layer-3 blockchain running on top of the Base network, has quickly garnered attention from investors and traders, with a surge in transactional volumes reaching nearly $100 million in just 24 hours. The network commenced operations just four days ago and has seen over 272,000 unique transactions.

 

  1. DEGEN-related meme coins have also seen the light of day, experiencing substantial price increases.

 

  1. The debate over layer-3 networks (L3s) and their role in scaling Ethereum has been sparked by comments from Polygon CEO Marc Boiron, who argued that L3s are not necessary for scaling existing networks like Ethereum and only serve to divert value away from the mainnet.

 

  1. Degen Chain, a blockchain project developed by Syndicate, a prominent decentralised autonomous organisation (DAO) infrastructure, has garnered attention for its innovative approach to decentralised finance (DeFi). The platform, which was once backed by venture capital firm Andreessen Horowitz (a16z), utilises the Arbitrum Orbit framework to power its operations, boasting high scalability and low transaction gas fees.

 

Stay informed with the latest Degen  news that covers important insights shaping the Degen price, prediction and cryptocurrency industry. Read the latest degen news at our Block Matra website from different quality sources to know what happened and make better informed decisions.

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