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Author: Hamster; Source: CHAINFEEDS
Degen raised in the Farcaster community.In January 2024, Degen token was launched on the Base Chain for the first time, and with its unique incentive mechanism and fascination culture, it quickly became one of Memecoin, which has received much attention in the Base ecosystem.Subsequently, Syndicate, a DAO infrastructure service provider, announced the use of the technologies of Arbitrum Orbit and Anytrust as the original native currency of the system, and launched a Base -based Layer3, which is DEGEN CHAIN.Once the news was announced, Degen’s price soared all the way, up 1400 times in the past three months.
The rise of memecoin
Memecoins, these inspired cryptocurrencies, which are inspired by Internet fans, jokes, or virus trends, and its popularity began the birth of Dogecoin in 2013.Dogecoin has attracted widespread attention and love because of the theme of dog fans because of the theme of “Doge”.Although it was only used as a symbol of humor and entertainment, Dogecoin gradually showed deeper value and use, such as applications in online transactions, rewards, and charity donations.Dogecoin’s popularity and diversified use highlights Memecoin beyond the simple entertainment attributes, becoming a force that cannot be ignored in the cryptocurrency world.
The rise of Memecoin is mainly due to their community -based essence, interesting content, and the threshold for junior investors.After the success of Dogecoin, many other Memecoins have emerged in the market. These currencies have learned from various Internet trends and jokes.These include the citations of currency, popular culture with different animals, and more abstract concepts.These Memecoins are usually listed at a very low starting price, and it is likely to quickly appreciate due to social media discussions and community participation.Their popularity is also promoted by the trend of cryptocurrencies. For example, the rise of DEFI and NFT has opened up a new way for Memecoins’s innovative use.
However, the essence of Memecoins also brings a lot of risks.Because their value may fluctuate violently, many times the trend of price changes is more based on social media rather than internal value.Many Memecoins lacks solid technical support or clear application scenarios, turning them into a highly speculative asset.In addition, some “Pump and Dump” scams also appeared in this field. Through collective actors, in order to increase the value of a Memecoin, the early holders were sold at a high price at a high price, causing losses to later.The anonymous nature of the Memecoin project further increases the difficulty of assessing its legitimacy and continuous survivability.
In summary, although Memecoins provides unique opportunities for the participation of community construction and encryption, they are also accompanied by high risk.Investors should keep cautiously when they get involved in the MEMECOINS market, do well in research, and recognize the speculation of these assets.
The origin and development of DEGEN and its L3
The appearance and development of Dege need to start with FarCaster.As a decentralized social application, FarCaster has attracted attention in the cryptocurrency community with its unique social interaction method and emphasizing privacy protectionEssenceOn Farcaster, users can share, discuss and interact, and use blockchain technology to ensure the authenticity and non -tampering of content.
In the Farcaster community, the/Degen channel, as one of the earliest channels, was launched by the WarpCast team and quickly became a popular place for discussing cryptocurrency prices and sharing investment experience.In January 2024, with the launch of Degen in the Base Chain, and through the airdrop activity of members of the/Degen channel community, Degen took this opportunity to show its unique incentive mechanism and fascination culture, which promoted the new social network in the community in the community.Interactive method.These include innovative rewards and airdrop mechanisms to encourage community members to obtain DEGEN through participation and providing high -quality content, which not only stimulates the creation of high -quality content in the community, but also lays out the initial circulation and value growth of DEGEN.A solid foundation.
Degen tokens are designed to support network operations and encourage community participation through carefully planned economic models.The total supply is about 37 billion Degen token, of which, of which, of which, of which, of which, of which,, of which,70% are allocated to the community to promote extensive participation,15% is distributed to liquidity pools to enhance the smoothness of transaction and market value stability. In addition, 15% are used for continuous improvement of development teams, early investors and ecosystems.
Subsequent,Degen by completing 490.5 ETH angel round financingThe project cooperation with multiple BASE chains has significantly expanded its application scenarios and ecosystems.These cooperative projects not only use Degen as a transaction medium, but also further affirmed the feasibility and value of its native currency.
The most important thing is that Degen’s development team cooperated with Syndicate to launch L3 -Degen Chain based on the BASE chain -Degen ChainEssenceThis provides strong technical support and scalability for Degen, and at the same time pushes its market valuation to a new high, realizing the transformation from community Memecoin to encrypted assets with actual application value and market competitiveness.Degen Chain is established by the Degen community. It is built with Arbitrum orbit, a settings of the Base chain, and supporting data availability with Anytrust.Its native GAS token is Degen, becoming one of the first community tokens with its own L3.
Degen Chain’s launch not only provides support for new experiments in payment, games and other fields, but also supports new experiments in the fieldsAnd the developer tools provided by Syndicate, such as the Transaction Cloud APIS, provided free GAS for developers on Degen Chain, thereby promoting the development of innovative experience and application mechanism between community tokens and L3 technologyEssenceOn this platform, developers quickly launched multiple applications including Degenswap. This is a major decentralized trading platform on Degen Chain, which has attracted many Memecoin launch.Since the launch of the platform, within four days, it has achieved a transaction volume of nearly $ 100 million, completed more than 272,000 unique transactions, and custody of more than 7,500 contracts and 2,300 tokes.All this shows the huge potential of Degen Chain in promoting blockchain innovation and accelerating community token applications.
Representative of Meme Chain: Dogecoin and Shiba INU Chain Development
Memecoin, which also has its own public chain, and Doge and Shib.
Unlike Degen, Dogecoin was officially launched on December 6, 2013. At that time, it was a relaxed and humorous version based on existing cryptocurrency technology.The Dogecoin protocol is based on Luckycoin and Litecoin. Both of them use SCRYPT as part of its POW algorithm.This means that since its launch, Dogecoin has its own blockchain, which allows it to operate independently of other major cryptocurrencies.
Shiba inu was founded by anonymous or team “Ryoshi” in August 2020EssenceIt is inspired by Shiba Inu, Japan, and this dog is also another mascot based on cryptocurrency Dogecoin based on the origin.Shiba Inu was originally positioned as a potential “Dogecoin competitor.”In May 2021, Vitalik Buterin donated more than $ 1 billion of more than $ 1 billion of more than $ 1 billion of more than 5 trillion SHIB to India’s COVID-19 rescue fund.
Shibarium is the long -awaited Layer2 solution in the Shiba Inu community to transform Shiba Inu from a pure Memecoin to a complete blockchain ecosystem.By adopting a new consensus mechanism “Proof-OF-PARTICIPATION” and supporting EVM compatibility, it can achieve efficient and cost-effective transactions.This innovation framework promotes the seamless migration and decentralized application of the SHIB token, providing a stage for the application of expanded expansion in the Shiba Inu ecosystem.
Looking back at the development history of the two public chain, compared with Degen, although other mini coins such as Dogecoin and Shiba Inu have achieved significant success in the market, their technological development and ecological construction are relatively conservative, and the ecology is not bright.Eye performance.The value and popularity of these two Meme Chain rely on community support and cultural phenomena, rather than technological innovation or ecosystem expansion.
in conclusion
The Degen case marks the transformation of Memecoin from a simple cultural phenomenon to becoming the power that cannot be ignored in the cryptocurrency ecosystem, showing the long -term value and market potential of the new generation of Memecoin.It and traditional Memecoin, which are traditional Memecoin such as Dogecoin and Shiba Inu, have enriched the diversity of the crypto market.However, whether DEGEN can break the single situation of the Meme Chain ecosystem and open up a wealth of application ecology, it still takes time to verify.
