$Degen: funding the future on farcaster and beyond?

This Paragraph article by papajams.eth describes how the $Degen memecoin, launched three months earlier by developer Jacek on the Farcaster social network, has funded awards through the Tip O' The Hat (TOTH) initiative, in which members pool daily tips to reward deserving creators. The author states that over $1m (approximately $1,179,139.59 at a $0.045 average DEGEN price) had been awarded so far to artists, developers, builders, journalists and others. The article also argues that tipping could act as advertising, funding and a more egalitarian way to reward creators, while noting that rug pulls and honeypot attacks have already appeared on the degen L3 chain.