How to Get Started in the Degen Ecosystem? A Step-by-Step Guide

Biteye

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How to Enter Degen Chain Trading? Just follow these 4 steps.

Source: Biteye

Degen, as the current leading meme coin on the Base chain, has surpassed a market cap of 17 billion dollars. How can you get started with the Degen ecosystem during the Slay Weekend? Biteye brings the following insights:

1. What is a Degen token?

2. Use cases of Degen?

3. What is the Degen Chain?

4. How to enter the Degen ecosystem?

What is a Degen Token?

- Source: Originated from the Meme concept, emerged in the Degen channel of the decentralized social app @warpcast_, based on the Base chain. Its initial use case was content tipping, and it is currently the flagship token in this ecosystem.

- Fundraising: Angel round of approximately $1.47 million on February 21, led by 1confirmation.

- Market: About 200% price increase within the month, total market cap exceeding 17 billion dollars, with a 24-hour trading volume of over 1 billion dollars.

Applications that support Degen payments and tipping:

@warpcast_ as the "Twitter" of the Base chain

@Drakulaapp as the "TikTok" of the Base chain

@ourZORA NFT platform

@perl_xyz for skill-based prediction games

http://Bracket.Game as a tool for sports league voting

Farcaster is a protocol layer valued at 10 billion dollars, with investments from Paradigm and A16z. Warpcast is built on top of this.

What is the Degen Chain?

- Source: Layer 3 launched on March 29 by the DAO infrastructure provider @syndicateio, built on Arbitrum Orbit, with the Base network as the settlement layer, and DA layer as AnyTrust.

- Features: Tailored for the Degen community and $Degen, supporting community rewards, payments, games, etc., with low costs.

- TVL: Surpassed tens of millions of dollars within two days, with $Degen as the native Gas token on this chain.