Base Welcomes Degen Chain: The Las Vegas Experience in Blockchain Form
The Farcaster ecosystem, known for its active and fast-growing communities, is now welcoming its own layer-3 blockchain called Degen Chain.
This announcement comes from the pseudonymous founder Jacek and infrastructure provider Syndicate. Introducing the native gas token DEGEN as “one of the first community tokens with its own L3.” Originating in January within Farcaster. A decentralized social network on Base (an Ethereum layer-2 incubated by Coinbase), the Degen movement quickly gained traction, particularly with Ethereum co-founder Vitalik Buterin expressing interest. With over 53,000 DEGEN holders making 553,000 transactions since January. Primarily as rewards for quality content, the need for a dedicated Degen blockchain became apparent. Jacek likens Degen Chain to the “blockchain equivalent of Las Vegas,” emphasizing exploration and fun over gambling. This layer-3 blockchain, built with Arbitrum’s Orbit architecture and the AnyTrust protocol for data availability. Leverages Ethereum’s layer-2 Base for transaction settlements.
Syndicate’s cofounder, Will Papper, views layer-3s as the next frontier for on-chain experiences and applications, showcasing their commitment to providing tools and infrastructure for developers. With Degen Chain’s launch, Syndicate offers a free plan for developers to explore the technology’s capabilities, highlighting the importance of enriching experiences and connections within the crypto community.
Clever Robot News Desk 29th March 2024
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