$DEGEN

1/5 On Base, we’re the 3rd largest token by wallet holders, trailing only USDC and WETH. Our recent distribution round has placed Degen in the hands and minds of nearly everyone on Base, and our reach extends beyond. The question now is: how do we build value for Degen holders?

Here's a proposal regarding incentives.
In a mechanism similar to a Convertible Bond, an NFT plays a role with yield up to a certain value. If Degen rises to maturity or a specified value, it becomes possible to burn the NFT and receive $Degen tokens in return.
A Convertible Bond is typically issued by companies that do not want to depress their stock prices. While it can potentially act as a downward pressure on future stock prices when converted, it does not contribute to current selling pressure.