Degen

1/ Some personal thoughts about $degen.

I've been active in crypto since 2015, and until 10 days ago, I had never put a single dime into memecoins. I used to consider them noise at best, and scams at worst, devoid of fundamentals and overflowing with unabated gambler energy.

But $degen proved me wrong.

3/ Behind the meme, I was surprised to find a tight-knit group of creators, devs, and builders (@jacek, @0xen, @wake, @purp) rallying up a vocal community and breathing life into what I thought was just another s**tcoin. Art, creative airdrop tactics, sticky memes, DAO… $degen seemed to be ticking all the boxes.

4/ In a matter of weeks, it has blossomed into a thriving, eclectic, and innovative ecosystem (proof is @chi ecosystem map: https://www.mindmeister.com/app/map/3142922024?t=7SnUxrahr2). What’s remarkable is the near-perfect motive alignment between the token’s and FC’s growth.

Degen Angels

5/ Price talks around the "unofficial" Farcaster token are minimal, and rather, the $degen community is using the whole FC arsenal (Frames, in-app mints, tips) not only to boost the token’s legitimacy but also to support builders and artists in the process (/degenangels)

6/ $degen has been an eye-opener, a true benchmark for the power of community synergy, composability, gamification, permissionlessness, and ownership. It goes way beyond the "number go up" narrative and ushers in a new way for web3 natives to create value, purpose, and fun.

7/ The future is bright for @farcaster, and I’m convinced that $degen will be an integral part of its success. The key will be to channel the bustling energy, consolidate initiatives and pool resources to grow as an ecosystem.

8/ Looking forward to hearing everyone’s vision for $degen and ideas for its growth. *tips hat* 🎩

2/ I witnessed the rise (and fall) of $POINTS and the flurry of memecoin experiments that followed. I watched, perplexed, from the sidelines until $Degen hijacked the eponymous /degen channel, with "$degen"-studded casts soon popping across @warpcast

Onchain is the new online - FID 206 -  cooprecords.xyz

writer for hire. wandering through life. https://linktr.ee/rileybeans_eth

Here's some for you. Welcome to the party! 250 $DEGEN

though i don't participate in $degen, I agree with this. it's the farcaster-native difference. it's builder energy vs noise energy

Fantastic thread, very good summary of the magic in the hat.

420 $degen

I'm in the same boat. I've followed memecoins, sometimes find them stupid, sometimes funny, but $degen is different as it offers value to stakeholders.

Thanks for sharing your observations, also a mostly never-before-meme-coiner convert.