Degen

DEGEN, an ERC-20 token launched on 8 January 2024, aims to reshape the Farcaster ecosystem. Farcaster, a decentralised social platform operating on blockchain technology, minimises data breaches and censorship while promoting transparency and security. 

DEGEN’s creator, Jacek Trociński, has no formal ties to Farcaster and developed DEGEN as a community meme coin airdropped to ‘Casters’. The token rapidly gained popularity, and Trociński began developing a dedicated DEGEN blockchain. 

The meme coin enables Farcaster users to reward others for quality content through a point system that recognises unique posts and comments. This system bridges the gap between online contributions and real-world value, with one point equating to one DEGEN token.

DEGEN’s appeal now extends beyond Farcaster, with availability on major platforms like Crypto.com having increased community interest.