The History of DEGEN

DEGEN grew from a fair-launch memecoin on Base, distributed through Farcaster's /degen channel, into what the article calls an unofficial Farcaster token with wide-ranging utility. Airdrop 1 allocated 15% of the 37 billion total supply to Farcaster users who posted in /degen, with multipliers for other actions, and another 15% went to the liquidity pool. The community built the brand, including the "Degentlemen" name and the top hat symbol, and Jacek, the lead dev, supported it through bounties and grants. The article adds that DEGEN is now the most widely listed Base token and that a DEGEN-based Layer-3 network is the next planned step.