What is DEGEN

1. Project Introduction
DEGEN is a reward token for Farcaster users that incentivizes the community through a unique tipping mechanism. It also supports the Degen chain, one of the pioneering L3s launched on Base, which provides a platform for building and using Degen applications. During its initial launch, 15% of the total supply was airdropped to active members of the Farcaster's Degen channel, and there are plans to airdrop 70% of the token's total supply eventually.
Summary: Degen started as a meme token for rewarding participants in the Farcaster Degen channel but gained quite some attention due to its performance in the secondary market.
2. Team & Investment Info
Jacek, co-founder & CEO;
Colton Dillion, co-founder & COO, also CEO of hedgehog.app;
Funding: In February 2024, it completed an angel round of 490.5 ETH (approximately $1.47 million) led by 1confirmation with participation from Farcaster OG and others.
3. Social Media URLs
X: https://x.com/degentokenbase
Telegram: https://t.me/degentokenbase
4. Token Info
Token Symbol: DEGEN
Token Supply: Less than 37 billion in total supply at launch
Token Type: Base
Issuance/Burn Mechanism: Built-in inflation rate of 1% starting in 2028
Contract Address: https://basescan.org/token/0x4ed4E862860beD51a9570b96d89aF5E1B0Efefed
Token Distribution:
Airdrop1: 15%;
Airdrop2: 20%;
Airdrop3: 25%;
Liquidity Mining: 10%;
Liquidity Pool: 15%;
Ecosystem: 15%;
5. Related Links
Official Website: https://www.degen.tips/
Other Info: https://www.rootdata.com/zh/Projects/detail/DEGEN?k=MTE0NzQ%3D

Note: The project introduction comes from the materials published or provided by the official project team, which is for reference only and does not constitute investment advice. HTX does not take responsibility for any resulting direct or indirect losses.