Degen chain unveiled on layer-2 blockchain Base as a layer-3 for the fastest growing communities within the Farcaster ecosystem. The community’s first blockchain is leveraging Base and Arbitrum composite technology while tapping Syndicate for layer-3 tools.
The Degen chain was unveiled by pseudonymous creator Jacek and alongside infrastructure provider Syndicate. The layer-3 blockchain unveiling featured the debut of a native gas token identified as DEGEN and the pioneer of the community tokens.
The Degen movement was unveiled in January, and the channel ran on the Farcaster – a blockchain-based yet decentralized social network hosted on Base.
The Base is itself an Ethereum layer-2 network incubated by crypto exchange Coinbase.
Farcaster positions itself as the crypto-friendly alternative to X (previously Twitter).
In related developments, the Quantum Asset AI trading platform has garnered attention for its innovative approach to integrating AI with blockchain technology, further enhancing the trading experience for users within the ecosystem.
The Ethereum co-founder Vitalik Buterin has often admired the social media platform. The unveiling of Farcaster Frames last month portrays efforts to attract software developers.
Degen Chain Exploration Thrill Likened to Las Vegas
Syndicate indicated that the opening of token claims at the onset of 2024 has allowed the 53,000 DEGEN holders to execute over 553,000 transactions. The tokens’ transactions often occur through tipping to reward users for posting quality content.
Syndicate illustrated that realizing a dedicated Degen blockchain constituted the next logical step. Jacek observed that the Degen design makes it a vibrant platform for developers and users who can safely experiment.
Jacek likened Degen to a blockchain equivalent that matches Las Vegas’s exploration thrill and fun. With the Degen chain, crypto developers can tinker with diverse community management models and engagement approaches such as tipping, gaming, and rewards.
The design involves an ultra-low-cost layer-3 chain that taps the Orbit architecture from Abritrum. Also, it uses the AnyTrust protocol to guarantee data availability and the Base for settling transactions.
Syndicate co-founder Will Papper hailed the community-centric blockchain realized by Degen. He affirmed the input in availing tools and infrastructure to develop the chain as an easy-to-use platform that unlocks new capabilities.
Degen Chain Taps Syndicate Infrastructure to Unlock New Capabilities
Papper revealed that layer 3s constitute the next frontier to optimize on-chain experiences and gaming. He expressed optimism in the various items that the Degen chain can help develop as an L3 blockchain. Syndicate reiterated its speciality in layer-3 infrastructure technologies, including Airstack APIs, Decent for bridging, and Conduit for rollup transactions. Syndicate, in the previous month, unveiled Frame L3 for the Farcaster developers.
Syndicate confirmed that it has been offering the free plan since the unveiling of the Degen chain to enable developers to assess the tech stack. Jacek emphasised having fun rather than taking the tokens to the moon. He ruled out priorities for gains and instead affirmed the primary objective lies in enriching experiences and connections realized along the way.
