Degen

About Degen token

DEGEN is a reward token designed for users of Farcaster, leveraging a unique tip allowance mechanism that empowers the community to distribute funds and reward quality content creators. This innovative approach encourages engagement and supports content creators within the ecosystem.

DEGEN also powers the Degen Chain, one of the pioneering Layer 3 solutions launched on Base. The Degen Chain offers a platform for developing and using Degen applications, often referred to as the “Las Vegas of blockchains” due to its vibrant and experimental nature.

At its launch, approximately 37 billion DEGEN tokens were created. The distribution plan includes 70% of the tokens allocated to the community, ensuring broad participation and engagement. Additionally, 15% of the tokens are designated for a liquidity pool, providing stability and ease of trading. The remaining 15% supports the team, investors, and the broader ecosystem, ensuring the project’s sustained growth and development.

Starting in 2028, DEGEN will introduce a 1% annual inflation rate to maintain the token’s utility and incentivize continued participation.

This strategic token distribution and the unique capabilities of the Degen Chain position DEGEN as a leading project in the blockchain space, fostering innovation and community-driven development.